Regulatory Policy Quiz

What is the goal of regulatory policy?

• To promote monopolies

• To achieve efficiency and equity

• To restrict business practices

• To increase government control

Which act was created during the Progressive Era to prevent unfair trade practices?

• The Clean Air Act

• The Sherman Antitrust Act

• The Patriot Act

• The Affordable Care Act

What is the main goal of the government's use of regulatory policy to protect vulnerable parties in economic transactions known as?

• An equity goal

• A monopoly goal

• A deregulation goal

• An efficiency goal

What is the term used for the push to repeal or reduce regulations?

• Overregulation

• Regulatory expansion

• Deregulation

• Monopolization

Which government oversight agency oversees government regulation of business practices?

• The Environmental Protection Agency

• The Federal Trade Commission

• The Occupational Safety and Health Administration

• The Federal Aviation Administration

What is the potential downside of overregulation?

• Lower prices for consumers

• Waste of resources for businesses

• Increased competition

• Boosting economic efficiency

What is the main reason for the government's tolerance of conglomerates in some industries?

• To achieve equity goals

• To promote monopolies

• To increase government control

• High capital costs and/or foreign competition

Which industry was deregulated in the 1970s and 1980s resulting in lower prices and more choices for consumers?

• The telecommunications industry

• The commercial airline industry

• The healthcare industry

• The automotive industry

What is the influence on newer regulatory agencies' policy responsibilities?

• Environmental activists

• International organizations

• Consumer advocacy groups

• Party politics and supporting business lobbies

What was a major concern regarding large tech and social media companies in the late 2010s?

• Lack of government oversight

• Privacy rights of individuals

• Lack of competition

• Market share of the companies