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The Federal Reserve - CNN - 5th Grade Education

Written by Subject: Education: Government Schools
 
 
This is a test review that our 12 year old niece needed help with, and we submit this without comment - (space provided one sentence answers):





BOOK: Holt Civics and Economics (Virginia Edition)

PUBLISHER: Holt, Rinehart and Winston

AUTHORS: William H. Hartley, William S. Vincent

ADDITIONAL REFERNCE: CNN and CNNfyi.com

CLASS: Civics

GRADE: 6




TEST REVIEW QUESTIONS:


MONOPOLIES


1.    A _____________________ controls the entire supply of a good or service.


2.     List 3 disadvantages of monpolies.

3.    True or False: The gov't encourages competition to avoid monopolies.

4.    List three ways the gov't encourages competition?

5.    What's the purpose of the FTC?

6.    How did the Sherman Antitrust Act affect monopolies?

7.    Water, cable, and electricity services are all examples of what kind of monopolies?


FEDERAL RESERVE/BANKING


8.    Why do individuals and businesses use banks?

9.    Name the two types of financial institutions where people do their banking?

10.    What is the difference between the two places above?

11.    What types of services do banks offer?

12.    How many Federal Reserve banks are located throughout the U.S.?
    Name 3 cities where these banks are located.

13.    What is the purpose of the Federal Reserve?

14.    How is the reserve that the banks must keep divided?

15.    Who can use the Federal Reserve?

16.    How does the Federal Reserve control the amount of money in circulation?

17.    How and why does the Federal Reserve slow the economy?

18.    How and why does the Federal Reserve stimulate the economy?

19.    List and explain the three ways the Federal Reserve can affect the money supply?
        a.
        b.
        c.

20.    What happens to banks, consumers, and producers when the Federal Reserve increases the amount of $ banks must keep in reserve?

21.    What happens to banks, consumers, and producers when the Federal Reserve decreases the amount of $ banks must keep in reserve?


CONSUMER RIGHTS


22.    Why do government agencies make rules for businesses to follow?

23.    Describe the organizations below and how they help consumers:

        BBB

        FDA

        Consumer Product Safety Commission 

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