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Economics

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Magali Rodriguez

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Cards in this guide (19)
What is the purpose of a price ceiling

A price ceiling protects the poorest consumers by keeping goods affordable.

What does a budget reveal about a government

A budget reveals the spending plan for the fiscal year, as well as the government's financial priorities and goals.

What do capital controls prevent

Speculators from rushing into and out of a country's market and disrupting its economy./

How can recent government spending be best described

Constantly increasing

What does enforcing consumer-protection regulations involve

Government censorship

Why might the government freeze assets

Why might the government freeze assets?

To stop crime activity.

What is the purpose of labor laws

To protect workers

What do politicians use to win support from their constituents

Politicians might use pork barrel spending to win support from their constituents.

Why is it necessary for the government to force people to pay taxes

The public goods the government provides suffer from a free-rider problem.

The government can prevent the shortages that accompany price ceilings by doing what

Rationing

What is an example of trade restriction

Tariffs and embargos are trade restrictions.

The passage of environmental protection laws results in what

The passage of environmental protection laws results in higher prices.

Which of these is not an example of a trade restriction A Tariffs B Quotas C Rationing D Subsidies

for a similar question:

taking land to build an airport

Match each role with the action performed by people playing that role.

consumer-provide labor and investment

producer-provide individual goods

government-provide public goods

Government contractors can be described as which of the following

Private sector companies

What is an example of a labor law in economics

A restriction on when a union may call a strike

Match each organization with its correct relationship to the government

A. Social security _ government agency

B. U.S. Postal Service _ government corporation

C. Boeing _ government contractor

Match each type of good with the sample good it represents (apex)

Merit good : education

Public good : national security

Individual good : food

Match each organization with the correct labels (apex)

Organization of Petroleum Exporting Countries competition regulator

Lockheed Martin Corporation government contractor

Antitrust Division of the Department of Justice cartel

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