Economic Unit Test Review

Spending that can change from year to year is known as spending.

Which statement explains a way how the Securities and Exchange Commission upholds fair business practices? The SEC makes sure that banks follow federal laws. The SEC tries to limit risk in the financial system. The SEC generally oversees banking practices. The SEC generally oversees financial advisers.

These lists outline the details of two jobs. Which job-related factor do both lists show? family needs job location personal life annual wages

Which statement best explains paying in cash to cover the costs of an education? It requires the use of savings. It requires repayment with interest. It involves completing an application. It is based on need or achievement.

Fiscal policies establish a government's plans for taxation and .

The government of Country C has passed a law protecting the physical safety of factory workers. This is an example of monetary policy. supply and demand. fiscal policy. regulatory policy.

Economist Friedrich Hayek argued that can serve as signals in an economy.

Which federal regulatory agency would most likely bring a civil suit against a business that broke securities laws? the SEC the FDA OSHA the FDIC

Labor unions were certain to advocate for the best interests of workers because the government shut down factories that did not improve work conditions. the top factories were run by owners who wanted to retain their workers. the government required all labor unions to promote workplace reform. the labor unions were created by workers and made up of workers.

When a government decides to limit the number of goods that can be sold to another nation, that government is creating monetary policy. trade policy. fiscal policy. regulatory policy.

What circumstances during the early days of industrialization led to a need for reform? Check all that apply. Factory equipment was dangerous to operate. There were too few capable workers to fill positions. There was little government regulation of workplaces. A typical work shift might be twelve to sixteen hours long. It was very expensive to keep factories running.

The diagram shows different types of policies. Which would be the best label for the circle in the center? The Best Economic Policies Government Economic Policies Ineffective Economic Policies The Free Enterprise System

Expansionary spending takes place when a government makes the decision to put a freeze on the number of its employees. raise taxes to balance its budget. raise taxes to run a budget surplus. raise spending to stimulate the economy.

What part does interest play in deficit spending? Governments must pay interest on money they borrow when they take on debt. Citizens must pay interest when their governments borrow money. Governments may charge foreign countries interest when they borrow money. Interest is not a factor when a government's budget is in deficit.

Because cost of living varies, it is important to consider when conducting a job search.