#1
Which of the following is an example of a price ceiling?
Minimum wage law
Rent control
Subsidies for farmers
Tax breaks for corporations
#2
Which of the following is a form of fiscal policy?
Increasing the money supply
Adjusting interest rates
Cutting government spending
Lowering taxes
#3
Which government agency is responsible for regulating the stock market in the United States?
Federal Reserve
Securities and Exchange Commission (SEC)
Department of Commerce
Internal Revenue Service (IRS)
#4
In a market economy, prices are primarily determined by:
Government regulations
Central banks
Supply and demand
Labor unions
#5
Which of the following is NOT a function of money?
Medium of exchange
Store of value
Unit of labor
Standard of deferred payment
#6
Which of the following is an example of a capital resource?
Land
Labor
Machinery
Entrepreneurship
#7
What is the main goal of antitrust laws?
To encourage monopolies
To regulate trade with foreign countries
To prevent unfair business practices
To promote government intervention
#8
What is the 'invisible hand' in economics?
Government intervention in markets
The concept of supply and demand
The role of central banks
The guiding force of self-interest and competition
#9
What is the purpose of a tariff in international trade?
To promote free trade
To increase consumer choice
To raise revenue for the government
To restrict imports
#10
What is the main purpose of a subsidy?
To reduce government spending
To encourage production or consumption of a good
To impose taxes on imported goods
To regulate market competition
#11
What is the primary goal of monetary policy?
To control inflation
To promote economic growth
To regulate international trade
To reduce government debt
#12
Which of the following is an example of a command economy?
United States
China
Germany
Japan
#13
Which of the following is an example of a public good?
A privately-owned restaurant
A public park
A subscription-based streaming service
A luxury car
#14
Which of the following is an example of a regressive tax?
Sales tax
Income tax
Property tax
Corporate tax
#15
What is the 'Laffer Curve' used to illustrate?
The relationship between supply and demand
The effects of government intervention on market equilibrium
The relationship between tax rates and tax revenue
The concept of diminishing marginal utility