Government and Taxes Quiz

Government can prevent unqualified persons from operating a business by

• closing their bank accounts.

• helping their competitors.

• refusing to grant them a license.

• raising their taxes.

When government sets safety standards for the workplace, it is attempting to

• prohibit excess standards.

• minimize risks to employees.

• control business.

• modernize working environments.

Government tries to protect competition by

• preventing all monopolies.

• restricting the production of certain products.

• regulating monopolies.

• controlling the prices of products.

Which of the following is a positive effect of government regulation:

• Legal protection

• Increased inflation

• Unfair competition

• Price controls

Government can prevent unqualified persons from operating a business by

• helping their competitors.

• refusing to grant them a license.

• raising their taxes.

• closing their bank accounts.

Which of the following is a public good that is provided by government:

• Private schools

• New automobiles

• Interstate highways

• Marketing research

Which of the following regulatory agencies would be concerned with price fixing and unfair competitive practices:

• Consumer Product Safety Commission

• Federal Communications Commission

• National Labor Relations Board

• Federal Trade Commission

A restaurant fails to meet government regulations, so it loses its __________ and is no longer allowed to do business.

• license

• price controls

• disposable income

• tariffs

Government tries to protect competition by

• preventing all monopolies.

• restricting the production of certain products.

• controlling the prices of products.

• regulating monopolies.

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

• competition in the marketplace has increased.

• products have become very technical.

• costs of production have continued to increase.

• people's attitudes have changed.