Exam 4: The Role of Government in Business Appendix a Working Within the Legal Environment of Business

Government activities that affect businesses include:

Provinces cannot have crown corporations,as they only exist at the national level.

The sole purpose of Canada's federal Competition Act is to ensure that all advertising done by corporations meets government standards.

Canadian governments will buy in Canada only if the Canadian price offered is equal or less than that offered by a foreign company.

Explain the difference between fiscal policy and monetary policy.Discuss how each of these approaches can be used to influence the state of the economy.

Ontario sold the toll-road Highway 407 and its share in a land-registry firm.This is an example of:

What does the Competition Act do?

Federal and provincial policies favouring Canadian businesses are being modified as a result of having NAFTA in place.

An important day- to- day function of the Bank of Canada is to:

Monetary policy involves the level of government spending.

P3s represent what?

A debt occurs when a government spends over and above the amount it gathers in taxes over a specific time,such as a fiscal year.

An important function of the NRC (National Research Council)is to:

A comprehensive and coordinated government plan to guide and revitalize the Canadian economy is called:

Canada's NRC (National Research Council)was set up in 1982 as a specialist organization strictly for university researchers.

Some people argue that the best way to develop the Canadian economy is:

The selling off of Canadian government owned crown corporations such as Air Canada and Canadian National Railway (CNR)is called:

The government has a large and elaborate system to help companies in their exporting activities.

Interprovincial trade is a________ industry in Canada.

Taxes come from a variety of sources.