FP1 Obj 4 Test Review

Which regulatory agency would be concerned with price fixing and unfair competitive prices?

• Consumer Product Safety Commission

• Federal Communications Commission

• National Labor Relations Board

• Federal Trade Commission

Providing compensation to the unemployed and aid to dependent children are ways that the government intervenes in the economy to:

• manage yearly spending

• protect private property

• improve public welfare

• set safety standards

Which is a public good that is provided by government?

• interstate highways

• marketing research

• new automobiles

• private schools

One of the positive effects that government regulation has on companies is that many of the laws are intended to provide companies with:

• choices

• obstacles

• protections

• restrictions

The two main sources of revenue used to pay the costs of government regulation are:

• taxpayers and nontaxpayers

• government and industry

• taxes and borrowing

• business and labor

One way in which the government protects private property is by providing:

• local government programs

• federal reserves banks

• fire insurance policies

• patents or copyrights

One of the reasons that has caused government’s role in business to expand is that:

• costs of production have continued to increase

• competition in the marketplace has increased

• products have become very technical

• people's attitudes have changed

The government can prevent unqualified persons from operating a business by:

• refusing to grant them a licence

• closing their bank accounts

• helping their competitors

• assessing extra taxes

When the government buys wheat to keep the price high enough for farmers to make a profit, it is:

• encouraging the production of wheat

• B. encouraging energy conservation.

• industrializing the economy.

• using price supports.

As the size and power of U.S. businesses have grown over time, the federal government's involvement in the U.S. economy has:

• increased

• decreased

• stayed the same

• become unimportant