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Business and Government — Test Answers

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Governments collect taxes to ensure that

politicians get paid in a timely manner.

citizens contribute to meeting society's needs.

a government program exists for every need that arises.

there is sufficient money to fund private businesses.

Which can be considered disadvantages of sole proprietorships and partnerships?

Partnerships require many people to write a charter, while sole proprietorships require one person to write a charter.

Sole proprietorships require one person to know complicated tax laws, while partnerships require many people to know the rules.

Sole proprietorships require one person to do many things, while partnerships require many people to weigh in on decisions.

Partnerships require one person to do many things, while sole proprietorships require many people to weigh in on decisions.

Spending that can change from year to year is known as

mandatory spending.

expansionary spending.

deficit spending.

discretionary spending.

During what years did union membership peak?

in 1930 and 1950

in 1960 and 1970

in 1965 and 1970

in 1945 and 1955

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