Exploring Government Regulation and Economic Policy

The video discusses the goals of economic policy, including promoting stable markets, economic prosperity, business development, and protecting consumers and employees. It highlights government actions like regulations, subsidies, and tariffs. The historical evolution of economic regulation is also covered, showing how the government's role has expanded over time.

What is one of the primary goals of economic policy?

• Reducing government size

• Increasing taxes

• Promoting stable markets

• Eliminating trade

How does the government maintain stable markets?

• By deregulating industries

• By creating monopolies

• By increasing inflation

• By maintaining law and order

What is one way the government promotes economic prosperity?

• By reducing public investment

• By regulating financial markets

• By eliminating subsidies

• By increasing tariffs

Which organization regulates financial markets to build confidence in the economy?

• Consumer Products Safety Commission

• National Institutes of Health

• Federal Reserve

• Securities and Exchange Commission

What is a controversial form of government support for businesses?

• Environmental regulations

• Direct subsidies

• Public education

• Law enforcement

What is one of the main ways the government promotes business development?

• By increasing taxes

• By eliminating tariffs

• By providing subsidies

• By reducing public investment

Which act made unionization easier for employees?

• Fair Labor Standards Act

• Consumer Products Safety Act

• National Labor Relations Act

• National Traffic and Motor Vehicle Safety Act

What does the Occupational Safety and Health Administration (OSHA) do?

• Regulates workplace safety

• Sets minimum wage

• Inspects meat

• Regulates financial markets

Which act created the Interstate Commerce Commission to regulate railroads?

• Sherman Act

• Clayton Act

• Federal Trade Commission Act

• Interstate Commerce Act

What was a significant change in government regulation during the New Deal?

• Elimination of tariffs

• Reduction of public investment

• Active role in regulating certain sectors

• Focus on deregulation