PLATO ECON PRETEST GOVERNMENT
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Which kind of tax is paid when purchasing consumer goods and services? - CORRECT
ANSWER -A. estate tax
B. purchase price tax
C. wholesale tax
(CORRECT: D. sales tax)
Which kind of tax is paid when purchasing consumer goods and services? - CORRECT
ANSWER -A. estate tax
B. purchase price tax
C. wholesale tax
(CORRECT: D. sales tax)
Is there a potential problem if governments continually finance goods and services with
borrowed money? - CORRECT ANSWER -A. Yes, because it is unconstitutional for
governments to borrow money.
(CORRECT: B. Yes, because eventually the debt must be repaid with interest.)
C. No, because governments can accumulate debt without limit.
D. No, because it is always easier to pay off the debt later.
Which sentence best describes the role of the Federal Reserve System? - CORRECT
ANSWER -A. Its role is to monitor labor cycles and regulate resources.
B. Its role is to regulate US unemployment cycles.
(CORRECT: C. Its role is to regulate the US financial system.)
D. Its role is to monitor politicians and make recommendations.
, What is the purpose of federal antitrust laws? - CORRECT ANSWER -A. to raise revenue
for government programs
(CORRECT: B. to preserve competition among business firms)
C. to protect domestic firms from foreign competition
D. to provide services to the general public
The state government offered Mike $300,000 for his family's property, which they plan to use for
building a new development.
The _______ allows the state government to take the property as long as it is used __________.
Mike can still dispute the government's offer if the compensation___________. - CORRECT
ANSWER -1. FIFTH Amendment
2. I DONT KNOW
3. Is less than fair market value of the land
Tim feels cheated because an automobile dealer misled him by first advertising a car at a reduced
price. When Tim said he wanted to purchase the car, the dealer told him that the price is no
longer available and tried to convince him to buy the car at the higher price. Which agency is
responsible for compelling the dealer to run corrected advertisements? - CORRECT
ANSWER -A. Federal Communications Commission
(CORRECT: B. Federal Trade Commission)
C. Food and Drug Administration
D. National Highway Traffic Safety Administration
Which of the following are the responsibility of OSHA? - CORRECT ANSWER -provide
consultation to small businesses
protect the health of workers
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Which kind of tax is paid when purchasing consumer goods and services? - CORRECT
ANSWER -A. estate tax
B. purchase price tax
C. wholesale tax
(CORRECT: D. sales tax)
Which kind of tax is paid when purchasing consumer goods and services? - CORRECT
ANSWER -A. estate tax
B. purchase price tax
C. wholesale tax
(CORRECT: D. sales tax)
Is there a potential problem if governments continually finance goods and services with
borrowed money? - CORRECT ANSWER -A. Yes, because it is unconstitutional for
governments to borrow money.
(CORRECT: B. Yes, because eventually the debt must be repaid with interest.)
C. No, because governments can accumulate debt without limit.
D. No, because it is always easier to pay off the debt later.
Which sentence best describes the role of the Federal Reserve System? - CORRECT
ANSWER -A. Its role is to monitor labor cycles and regulate resources.
B. Its role is to regulate US unemployment cycles.
(CORRECT: C. Its role is to regulate the US financial system.)
D. Its role is to monitor politicians and make recommendations.
, What is the purpose of federal antitrust laws? - CORRECT ANSWER -A. to raise revenue
for government programs
(CORRECT: B. to preserve competition among business firms)
C. to protect domestic firms from foreign competition
D. to provide services to the general public
The state government offered Mike $300,000 for his family's property, which they plan to use for
building a new development.
The _______ allows the state government to take the property as long as it is used __________.
Mike can still dispute the government's offer if the compensation___________. - CORRECT
ANSWER -1. FIFTH Amendment
2. I DONT KNOW
3. Is less than fair market value of the land
Tim feels cheated because an automobile dealer misled him by first advertising a car at a reduced
price. When Tim said he wanted to purchase the car, the dealer told him that the price is no
longer available and tried to convince him to buy the car at the higher price. Which agency is
responsible for compelling the dealer to run corrected advertisements? - CORRECT
ANSWER -A. Federal Communications Commission
(CORRECT: B. Federal Trade Commission)
C. Food and Drug Administration
D. National Highway Traffic Safety Administration
Which of the following are the responsibility of OSHA? - CORRECT ANSWER -provide
consultation to small businesses
protect the health of workers
