Understanding Government Regulation and Oversight

What is the primary purpose of regulation in the private sector?

• To increase profits for private companies

• To control or change practices using governmental authority

• To eliminate competition among businesses

• To reduce government spending

What is compliance monitoring?

• Ensuring that firms and companies are following industry regulations

• Creating new regulations for the private sector

• Reducing the number of regulations in the private sector

• Increasing the budget for regulatory agencies

Who has the discretionary and rule-making authority to implement policy?

• The President

• Bureaucratic departments, agencies, and commissions

• The Supreme Court

• State governments

Which of the following is NOT a method of Congressional oversight?

• Holding hearings and conducting investigations

• Setting new guidelines for an agency

• Increasing the salaries of agency employees

• Exercising budgetary control by setting aside funds

How many cabinet departments are there, and who appoints their heads?

• 10, appointed by the Senate

• 15, appointed by the President and approved by the Senate

• 20, appointed by the President

• 25, appointed by Congress

Which of the following is an example of an Independent Executive Agency?

• The Federal Reserve Board

• The Department of Homeland Security

• The Social Security Administration

• The U.S. Postal Service

What is the main function of Independent Regulatory Commissions?

• To provide services to the public

• To regulate specific economic activities or interests

• To create new laws

• To manage government-owned businesses

Which of the following is a characteristic of Government Corporations?

• They are always profitable

• They are privately owned

• They serve a public need

• They are part of the executive branch

Which department is the newest among the cabinet departments?

• The Department of Education

• The Department of Energy

• The Department of Homeland Security

• The Department of Transportation

What is the role of Congress in relation to the federal bureaucracy?

• To directly manage all bureaucratic operations

• To exercise legislative oversight

• To appoint all bureaucratic officials

• To eliminate bureaucratic agencies