AnswersPMHS Civics Q2Fiscal Policy

Regulatory Policy Answers

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Which explains why government regulation is necessary in a mixed-market economy?

A
Government regulation protects constitutional rights, safety, and fairness.
B
Government regulation protects property rights, safety, and profits.
C
Government regulation protects constitutional rights, profits, and fairness.
D
Government regulation protects property rights, safety, and business owners.
2
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Which are duties of OSHA? Check all that apply.

A
investigating worker complaints
B
inspecting imported food
C
inspecting businesses
D
labeling products
E
protecting the environment
3

Which regulatory agencies provide general oversight for the banking industry?

A
the Fed and the FDIC
B
the Fed and OSHA
C
the FDIC and the EPA
D
the FDIC and the FDA
4

Government regulation is intended to

A
encourage producers to take negative actions.
B
discourage producers from taking harmful actions.
C
encourage producers to follow the Constitution.
D
discourage producers from making a profit.
5

Which statement explains how regulations on prices affect business practices?

A
Regulations keep prices fair and prevent businesses from establishing monopolies.
B
Regulations keep prices low and help businesses to establish monopolies.
C
Regulations keep prices fair and help businesses to establish monopolies.
D
Regulations keep prices low and prevent businesses from establishing monopolies.
6

The Food and Drug Administration sets standards for

A
advertising.
B
product labeling.
C
the environment.
D
traffic safety.
7

Which is a function of regulatory agencies?

A
encouraging business compliance
B
creating legislation for businesses
C
encouraging negative externalities
D
creating new business opportunities
8

What makes enforcing safety standards a challenge for the Food and Drug Administration?

A
Many foods are imported from other countries, and the FDA must ensure those foods meet the same standards as US goods.
B
The FDA faces competition from the EPA, which sets standards for product labeling.
C
The FDA has no control over advertising laws, which may conflict with safety standard laws.
D
Many raw materials are exported to other countries, and the FDA must ensure those materials meet the same standards as international goods.
9

A regulatory agency that makes sure banks follow federal laws is

A
the FDIC.
B
the FDA.
C
the SEC.
D
the EPA.
10

The most efficient way to ensure that producers are responsible for products is through

A
advertising.
B
legislation.
C
labeling.
D
compliance.

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