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True or False
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1
The economies of nearly all nations today are of a "mixed" form, meaning they include both free-market and collectivist elements.
A)True
B)False
2
The primary issue of government regulation is whether the costs to business outweigh potential benefits to society.
A)True
B)False
3
Interest groups do not attempt to bring pressure to bear on regulation of the economy.
A)True
B)False
4
Government intervenes to bring "equity" into the marketplace when, for example, it requires tobacco companies to place warnings about health risks related to smoking on cigarette packages.
A)True
B)False
5
In general, the economic policy pursued by the U.S. government has been harmful to business interests.
A)True
B)False
6
A government's fiscal policy is built on its taxing and spending decisions.
A)True
B)False
7
Monetary policy is controlled through the president and the executive branch.
A)True
B)False
8
In comparison with fiscal policy, monetary policy has at least one obvious advantage: it can be initiated more quickly because the Federal Reserve Board (the "Fed") is a faster-acting body than Congress.
A)True
B)False
9
The U.S. Constitution says nothing about the economy.
A)True
B)False
10
The farm legislation of 1996 extended more farm subsidies to farmers than ever before in American history.
A)True
B)False
11
Rachel Carson's Silent Spring encouraged the growth of the modern environmental protection movement.
A)True
B)False





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