Introduction to Business

Section 2: Government as Provider

Self-Checks

1
Items provides by the government and paid for using tax money are called ______ .
A)incentives
B)subsidies
C)public goods and services
D)transfer payments
2
Two industries that have historically received subsidies are ______ .
A)agriculture and steel
B)automobiles and steel
C)agriculture and textiles
D)steel and textiles
3
When a business offers a public good or service it is called ______ .
A)government subsidy
B)social welfare
C)privatization
D)utilization
4
Unemployment, Social Security, and veterans’ benefits are forms of ______ .
A)government subsidies
B)privatization
C)incentives
D)transfer payments
5
In the United States, more than ______ people work for the federal government.
A)300,000
B)3,000,000
C)1,000,000
D)10,000,000
6
Monetary grants given to producers to encourage certain behaviors are called ______ .
A)deductions
B)exemptions
C)endowments
D)subsidies
7
Income tax ______ help pay for public goods and services and provide money for transfer payments.
A)breaks
B)revenues
C)incentives
D)subsidies
8
A special tax benefit given to promote specific economic or social objectives is called a tax ______ .
A)break
B)loophole
C)deduction
D)rebate
9
Parks, libraries, museums, and swimming pools provided by the government are examples of facilities that improve people's ______ .
A)attitudes
B)standard of living
C)quality of life
D)security
10
The Small Business Administration offers ______ to people who want to open small businesses.
A)advice
B)tax rebates
C)tax incentives
D)transfer payments
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