Exam 3: The Economy: Changing Government-Business Relationships

Economic systems can roughly be divided into two extreme alternatives: free enterprise,also known as _______,and public ownership,also known as _________.

The ______________ was created by Congress to stem the development of monopolies and prevent practices that would lead to unfair competition.

Milton Friedman defined a pure free enterprise economy to include all of the following,BUT

These countries have had trade restrictions imposed them by the United States Governments as a result of the Omnibus Trade Act of 1988

One area that the government refuses to regulate is the environment.

The move to curtail the extensive government oversight of private firms during the 1980's is called _____.

Which of the following is a FALSE assumption about Class Action Lawsuits?

Subsidies are used by the government to provide support to economic enterprises

Unmanned drones are a very popular weapon used by the U.S.military and CIA in Pakistan and Afghanistan.

Economist John Maynard Keynes suggested

Supporters of GATT argue that the agreement

Business regulation and business subsidy programs are examples of microeconomic policy.

______________ requires that agencies and their programs be given specific periods of existence and be reviewed at the end of the time allotted.

Deregulation has

The American economy is predominantly

Enterprise zones adopted during the Clinton administration provide the following benefits except for

Industry complains that government regulation impacts its operations in the following way,except for

Which of the following is NOT an assumption underlying market theory?

NAFTA was enacted by Congress in November 1993,creating a free trade area among

Government monopolies typically run all of the following services except for