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Government legislation and regulations designed to prevent collusion among businesses that

Government legislation and regulations designed to prevent collusion among businesses that would suppress competition in order to produce unnaturally high prices are known as _____.

a.consent decrees

b.agreed judgments

c.consumer protection laws

d.antitrust policies regulations


12.Social regulation:

a.asserts government’s role in meeting public needs.

b.encourages the formation of a monopoly.

c.encourages imports but discourages exports.

d.promotes multiple sources of goods and services to meet consumer needs.

e.seeks to prevent corporate practices that have undesirable results for society.


13.The Consumer Financial Protection Bureau is created within the _____ to protect consumers from financial products that have produced widespread losses from 2000 to today.

a.Department of Commerce (DOC)

b.Interior Department

c.International Trade Commission

d.Treasury Department



14._____ arose in the early twentieth century as policy makers recognized that citizens need to be protected from tainted food products or untrustworthy drugs.

a.Consumer protection regulations

b.Antitrust policies

c.Economic regulations

d.Inflation controlling regulations

e.Consumer accountability policies


15._____ is a tax levied by the government on goods imported into a nation, applied in order to raise revenue or in order to protect the domestic manufacturers of the same item.







16.Efforts during the 1970s, 1980s, and 1990s to remove many forms of economic regulation created earlier in the nation’s history to control the business practices of airlines, communications technology, and banking is known as _____.







17.In the United States, the fiscal year for the federal government ends on _____.

a.September 30

b.October 30

c.November 30

d.December 30

e.January 30


18.Office of Management and Budget:

a.establishes broad guidelines on government revenue and spending for the next fiscal year and gives specific amounts for the programs that fall within different committees’ jurisdictions.

b.refers to staff unit within the Executive Office of the President that assists the president in compiling the recommended budget submitted to Congress each year.

c.comprises specialized staff created in 1973 to assist Congress in making budget decisions.

d.adopts a temporary action that allows those programs lacking a new annual appropriation to remain in operation.

e.takes care of spending decisions made by Congress and the President outside the regular budget process.


19._____ consists of one-third of the annual budget for which funding must be reapproved by Congress each year, subjecting these programs to annual changes.

a.Rural budget

b.Supplemental appropriation

c.Discretionary spending

d.Consumer protection appropriation

e.Mandatory spending


20.Funds for entitlement programs such as Social Security, Medicare, and Medicaid, as well as smaller programs such as unemployment compensation, Food Stamps, and child nutrition are examples of _____.

a.consumer protection appropriation

b.citizens’ welfare appropriation

c.discretionary spending

d.supplemental appropriation

e.mandatory spending

Dec 12 2019 View more View Less

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