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WorksheetsEconomics Ch. 11
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
A common resource is
a)
a resource that everyone has access to and that can be easily be overused or destroyed. Examples include the atmosphere and the oceans.
b)
a policy approach - often applied to environmental policy - that relies on rules and enforcement, rather than market incentives, to influence behavior.
c)
a direct payment of cash by the government to an individual.
d)
a policy that limits the amount of pollution a firm may legally emit each year but allows firms to trade with each other to obtain additional pollution permits.
2.
A corrective tax is
a)
a resource that everyone has access to and that can be easily be overused or destroyed. Examples include the atmosphere and the oceans.
b)
a policy approach - often applied to environmental policy - that relies on rules and enforcement, rather than market incentives, to influence behavior.
c)
a tax on producers that is designed to reduce negative externalities, such as pollution.
d)
a direct payment of cash by the government to an individual.
3.
Deregulation is
a)
a tax on producers that is designed to reduce negative externalities, such as pollution.
b)
the process of removing government restrictions on firms in order to promote competition or encourage economic activity.
c)
a resource that everyone has access to and that can be easily be overused or destroyed. Examples include the atmosphere and the oceans.
d)
a policy approach - often applied to environmental policy - that relies on rules and enforcement, rather than market incentives, to influence behavior.
4.
Economic stimulus is
a)
the ability of people to raise their standard of living and improve their economic status.
b)
a tax reduction given to low-wage workers when they file their federal income tax forms; its goal is to raise the incomes of poor people without discouraging them from working.
c)
the process of removing government restrictions on firms in order to promote competition or encourage economic activity.
d)
a policy or action designed to promote business activity and stimulate economic growth.
5.
Eminent Domain is
a)
the power of a government to take an individual's property for public use if the owner is fairly compensated.
b)
a policy or action designed to promote business activity and stimulate economic growth
c)
the ability of people to raise their standard of living and improve their economic status.
d)
a tax reduction given to low-wage workers when they file their federal income tax forms; its goal is to raise the incomes of poor people without discouraging them from working.
6.
A merger is
a)
a government benefit that is tied to family income so that benefits are reduced as income rises; examples include food stamps and welfare payments.
b)
the combining of two or more separately owned firms into a single firm.
c)
a policy approach - often applied to environmental policy - that relies on market incentives, rather than regulation, to influence behavior.
d)
an illegal, anti-competitive practice in which two or more firms agree to divide a market among themselves, selling only to certain customers or in certain geographic areas.
7.
The poverty rate is
a)
a government license, issued under a cap-and-trade system, that allows a producer to emit a certain amount of pollution.
b)
the combining of two or more separately owned firms into a single firm.
c)
a government benefit that is tied to family income so that benefits are reduced as income rises; examples include food stamps and welfare payments.
d)
the percentage of the population that has a family income below a government-defined threshold, or poverty line.
8.
A regulatory agency is
a)
the establishment, by the government, of rules aimed at influencing the behavior of firms and individuals. It can involve setting prices, establishing product and workplace standards, and limiting entry into an industry.
b)
a unit of government created to set an enforce standards for a particular industry or area of economic activity.
c)
the maximum amount of a resource that a person is allowed to use or consume in a given period of time.
d)
any one of the five groups of a population that has been divided into fifths for the purpose of data analysis; for example, the top quintile of a country's population in terms of income represents the top fifth of all earners.
9.
Tragedy of the Commons refers to
a)
a fee for the use of a common facility, such as a bridge or highway.
b)
a clause of the 5th Amendment to the Constitution stating that the government must pay private owners when their property is taken for public use under the power of eminent domain.
c)
a unit of government created to set an enforce standards for a particular industry or area of economic activity.
d)
a circumstance in which a shared resource is overused or destroyed because users take no responsibility for its preservation.
10.
Unemployment insurance is
a)
a government program providing limited cash payments to workers who lose their jobs.
b)
a circumstance in which a shared resource is overused or destroyed because users take no responsibility for its preservation.
c)
A. a fee for the use of a common facility, such as a bridge or highway.
d)
A. a clause of the 5th Amendment to the Constitution stating that the government must pay private owners when their property is taken for public use under the power of eminent domain.
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