Government Involvement in Economics Flashcard

Front

What is one of the financial powers of the government?

Back

To borrow money

Front

What is one of the government’s roles in economic regulation?

Back

To coin money and regulate its value

Front

What type of property does the U.S. Patent & Trademark Office protect?

Back

Intellectual property

Front

Which of the following has commercial value and is protected by the U.S. Patent & Trademark Office? Ideas, Furniture, Vehicles, Clothing

Back

Ideas

Front

Eminent domain is an exception to which type of rights?
Options:
Voting Rights,
Property Rights,
Privacy Rights,
Free Speech Rights

Back

Property Rights

Front

What is a potential consequence of violating FTC regulations?

Back

Fines and jail

Front

Which of the following is an example of market division? Options: Competitors lowering prices to attract customers, Each competitor selling only to certain customers or areas, Companies merging to form a larger entity, Businesses increasing advertising budgets

Back

Each competitor selling only to certain customers or areas

Front

Why might companies engage in market division?

Back

To avoid direct competition

Front

What is the role of government in consumer protection according to the text?

Back

To create regulations for honest business practices

Front

What does the cartoon suggest about the need for regulation?

Back

There is a need for regulation