Question 1

The creation of the Food and Drug Administration and the passage of the Securities and Exchange Act were intended to

Accepted Answer

A) promote equity in the economy. 
B) eliminate the problem of externalities in the economy. 
C) destroy the legal foundation of the business trust. 
D) promote efficiency in the economy. 
E) None of these answers is correct. 
A) promote equity in the economy. 
B) eliminate the problem of externalities in the economy. 
C) destroy the legal foundation of the business trust. 
D) promote efficiency in the economy. 
E) None of these answers is correct.

Question 2

________ wrote The Silent Spring in 1962.

Accepted Answer

A) Al Gore 
B) George W.Bush 
C) Greenpeace 
D) Rachel Carson 
E) The Sierra Club 
A) Al Gore 
B) George W.Bush 
C) Greenpeace 
D) Rachel Carson 
E) The Sierra Club

Question 3

Keynesian economics emphasizes ________ as a means of curtailing economic downturns.

Accepted Answer

A) reduced taxes 
B) increased government spending 
C) decreased regulation 
D) decreased inflation 
E) increased taxes 
A) reduced taxes 
B) increased government spending 
C) decreased regulation 
D) decreased inflation 
E) increased taxes

Question 4

Regulatory activity relating to the environment has actually meant that the environment today is

Accepted Answer

A) no better than it was during the 1960s. 
B) actually worse than it was during the 1960s. 
C) vastly more clean than it was during the 1960s. 
D) so free from pollution that further regulatory activity in the future seems pointless. 
E) None of these answers is correct. 
A) no better than it was during the 1960s. 
B) actually worse than it was during the 1960s. 
C) vastly more clean than it was during the 1960s. 
D) so free from pollution that further regulatory activity in the future seems pointless. 
E) None of these answers is correct.

Question 5

,Adam Smith made all of the following arguments for laissez-faire capitalism,EXCEPT which of the following?

Accepted Answer

A) The desire for profit is the invisible hand that guides a capitalist system. 
B) The government should not be allowed any role whatsoever in the economy. 
C) Private firms should be left alone to make their production and distribution decisions. 
D) Firms will try to use as few resources as possible in order to keep their prices low. 
E) Certain areas of the economy were better run by government agencies. 
A) The desire for profit is the invisible hand that guides a capitalist system. 
B) The government should not be allowed any role whatsoever in the economy. 
C) Private firms should be left alone to make their production and distribution decisions. 
D) Firms will try to use as few resources as possible in order to keep their prices low. 
E) Certain areas of the economy were better run by government agencies.

Question 6

Which of the following statements best describes the relationship today between government and the economy in the United States?

Accepted Answer

A) The economy is largely self-regulating. 
B) The government subsidizes economic interests but otherwise leaves them to operate as they please. 
C) The government is the driving force in the U.S.economy; business has a secondary role. 
D) The government has an important role in regulating and maintaining the U.S.economy. 
E) The government owns most of the means of production in the United States. 
A) The economy is largely self-regulating. 
B) The government subsidizes economic interests but otherwise leaves them to operate as they please. 
C) The government is the driving force in the U.S.economy; business has a secondary role. 
D) The government has an important role in regulating and maintaining the U.S.economy. 
E) The government owns most of the means of production in the United States.

Question 7

The Tennessee Valley Authority is

Accepted Answer

A) an electricity industry owned by the United States. 
B) a private industry regulated by the United States. 
C) a private electricity industry exempt from government regulation. 
D) a private environmental organization that receives federal funding. 
E) a private environmental organization with power to regulate industry. 
A) an electricity industry owned by the United States. 
B) a private industry regulated by the United States. 
C) a private electricity industry exempt from government regulation. 
D) a private environmental organization that receives federal funding. 
E) a private environmental organization with power to regulate industry.

Question 8

A fiscal policy solution to inflation would be to

Accepted Answer

A) increase government spending. 
B) lower tariffs and other barriers to trade. 
C) increase the tax rate. 
D) raise the discount rate. 
E) decrease the tax rate. 
A) increase government spending. 
B) lower tariffs and other barriers to trade. 
C) increase the tax rate. 
D) raise the discount rate. 
E) decrease the tax rate.

Question 9

The term externalities refers to

Accepted Answer

A) regulations imposed on a firm by government. 
B) a nation that is a trading partner of another nation. 
C) unpaid costs of production that are incurred by society. 
D) tariffs imposed on American goods exported to other countries. 
E) None of these answers is correct. 
A) regulations imposed on a firm by government. 
B) a nation that is a trading partner of another nation. 
C) unpaid costs of production that are incurred by society. 
D) tariffs imposed on American goods exported to other countries. 
E) None of these answers is correct.

Question 10

The Federal Reserve controls the money supply through all of the following actions EXCEPT

Accepted Answer

A) raising the cash reserve that member banks are required to deposit with the Federal Reserve. 
B) raising the interest rate that member banks are charged when they borrow from the Federal Reserve. 
C) lowering the cash reserve that member banks are required to deposit with the Federal Reserve. 
D) lowering the interest rate that member banks are charged when they borrow from the Federal Reserve. 
E) lowering the tax rate on individuals. 
A) raising the cash reserve that member banks are required to deposit with the Federal Reserve. 
B) raising the interest rate that member banks are charged when they borrow from the Federal Reserve. 
C) lowering the cash reserve that member banks are required to deposit with the Federal Reserve. 
D) lowering the interest rate that member banks are charged when they borrow from the Federal Reserve. 
E) lowering the tax rate on individuals.

Question 11

Economic efficiency requires

Accepted Answer

A) that the free market not be regulated by government. 
B) that the output of goods and services is the highest possible given the amount of input used to produce them. 
C) the economy to be organized around large firms. 
D) economic transactions to be fair to each party. 
E) economic transactions to be equal to each party. 
A) that the free market not be regulated by government. 
B) that the output of goods and services is the highest possible given the amount of input used to produce them. 
C) the economy to be organized around large firms. 
D) economic transactions to be fair to each party. 
E) economic transactions to be equal to each party.

Question 12

Explain the difference between economic efficiency and economic equity as principles that justify government regulation of the economy.

Accepted Answer

An economy is a system of production and

Question 13

Which of the following is correct about environmental policy?

Accepted Answer

A) The national parks are subject to a dual use policy of preservation,recreation,and exploitation of the rich natural resources. 
B) The Environmental Protection Agency was elevated to cabinet status in 1998 by President Clinton and the Republican Congress. 
C) Environmental regulation has done little to improve air and water quality. 
D) Policymakers always give more consideration to environmental protection than to economic development when the two conflict. 
E) None of these answers is correct. 
A) The national parks are subject to a dual use policy of preservation,recreation,and exploitation of the rich natural resources. 
B) The Environmental Protection Agency was elevated to cabinet status in 1998 by President Clinton and the Republican Congress. 
C) Environmental regulation has done little to improve air and water quality. 
D) Policymakers always give more consideration to environmental protection than to economic development when the two conflict. 
E) None of these answers is correct.

Question 14

The Progressive Era of government regulation focused on

Accepted Answer

A) strengthening consumer protection by preventing credit agencies from gouging individuals with high levels of debt. 
B) bolstering worker safety by increasing the power of unions and forcing better safety practices on businesses. 
C) increasing environmental protection and strengthening the EPA. 
D) regulating troubled economic sectors,such as banking. 
E) stopping the unfair business practices of the new monopolies,such as the railroads. 
A) strengthening consumer protection by preventing credit agencies from gouging individuals with high levels of debt. 
B) bolstering worker safety by increasing the power of unions and forcing better safety practices on businesses. 
C) increasing environmental protection and strengthening the EPA. 
D) regulating troubled economic sectors,such as banking. 
E) stopping the unfair business practices of the new monopolies,such as the railroads.

The creation of the Food and Drug Administration and the passage of the Securities and Exchange Act were intended to

________ wrote The Silent Spring in 1962.

Keynesian economics emphasizes ________ as a means of curtailing economic downturns.

Regulatory activity relating to the environment has actually meant that the environment today is

,Adam Smith made all of the following arguments for laissez-faire capitalism,EXCEPT which of the following?

Which of the following statements best describes the relationship today between government and the economy in the United States?

The Tennessee Valley Authority is

A fiscal policy solution to inflation would be to

The term externalities refers to

The Federal Reserve controls the money supply through all of the following actions EXCEPT

Economic efficiency requires

Explain the difference between economic efficiency and economic equity as principles that justify government regulation of the economy.

Which of the following is correct about environmental policy?

The Progressive Era of government regulation focused on

Political Thinking and Political Culture: Becoming a Responsible Citizen

Constitutional Democracy: Promoting Liberty and Self-Government

Federalism: Forging a Nation

Civil Liberties: Protecting Individual Rights

Equal Rights: Struggling Toward Fairness

Public Opinion and Political Socialization: Shaping the Peoples Voice

Political Participation: Activating the Popular Will

Political Parties, Candidates, and Campaigns: Defining the Voters Choice

Interest Groups: Organizing for Influence

The News Media: Communicating Political Images

Congress: Balancing National Goals and Local Interests

The Presidency: Leading the Nation

The Federal Bureaucracy: Administering the Government

The Federal Judicial System: Applying the Law

Welfare and Education Policy: Providing for Personal Security and Need

Foreign Policy: Protecting the American Way

State and Local Politics: Maintaining Our Differences

Filters

Exam 15: Economic and Environmental Policy: Contributing to Prosperity

The creation of the Food and Drug Administration and the passage of the Securities and Exchange Act were intended to

________ wrote The Silent Spring in 1962.

Keynesian economics emphasizes ________ as a means of curtailing economic downturns.

Regulatory activity relating to the environment has actually meant that the environment today is

,Adam Smith made all of the following arguments for laissez-faire capitalism,EXCEPT which of the following?

Which of the following statements best describes the relationship today between government and the economy in the United States?

The Tennessee Valley Authority is

A fiscal policy solution to inflation would be to

The term externalities refers to

The Federal Reserve controls the money supply through all of the following actions EXCEPT

Economic efficiency requires

Explain the difference between economic efficiency and economic equity as principles that justify government regulation of the economy.

Which of the following is correct about environmental policy?

The Progressive Era of government regulation focused on

Political Thinking and Political Culture: Becoming a Responsible Citizen

Constitutional Democracy: Promoting Liberty and Self-Government

Federalism: Forging a Nation

Civil Liberties: Protecting Individual Rights

Equal Rights: Struggling Toward Fairness

Public Opinion and Political Socialization: Shaping the Peoples Voice

Political Participation: Activating the Popular Will

Political Parties, Candidates, and Campaigns: Defining the Voters Choice

Interest Groups: Organizing for Influence

The News Media: Communicating Political Images

Congress: Balancing National Goals and Local Interests

The Presidency: Leading the Nation

The Federal Bureaucracy: Administering the Government

The Federal Judicial System: Applying the Law

Welfare and Education Policy: Providing for Personal Security and Need

Foreign Policy: Protecting the American Way

State and Local Politics: Maintaining Our Differences

Filters