Question 1

Has welfare reform been politically and fiscally successful? Do you believe that welfare will need to be significantly reformed in the foreseeable future?

Accepted Answer

The answer of Has welfare reform been politically and fiscally...

Question 2

The government holds the view that consumers are responsible to protect themselves and does little in terms of consumer protection.

Accepted Answer

A) True 
 B)False

Question 3

Laws that structure the conditions under which you can sell your property are called:

Accepted Answer

A) trade agreements 
B) market standards 
C) contractual terms 
D) laws of exchange 
E) collective bargaining agreements 
A) trade agreements 
B) market standards 
C) contractual terms 
D) laws of exchange 
E) collective bargaining agreements

Question 4

Why are market standards so important to a functioning market economy?

Accepted Answer

A) They require contract enforcement. 
B) They define property rights. 
C) They help people understand what they are bargaining for. 
D) They help people recognize the value of public goods. 
E) They protect the fundamental rights of workers. 
A) They require contract enforcement. 
B) They define property rights. 
C) They help people understand what they are bargaining for. 
D) They help people recognize the value of public goods. 
E) They protect the fundamental rights of workers.

Question 5

A contract is meaningless unless it is:

Accepted Answer

A) notarized 
B) a written agreement 
C) enforceable 
D) regulated 
E) signed by both parties 
A) notarized 
B) a written agreement 
C) enforceable 
D) regulated 
E) signed by both parties

Question 6

Social Security is a rather conservative approach to welfare.

Accepted Answer

A) True 
 B)False

Question 7

The process of periodically adjusting social benefits or wages to account for increases in the cost of living is called:

Accepted Answer

A) inflation 
B) benchmarking 
C) bracket creep 
D) benefit recalibration 
E) indexing 
A) inflation 
B) benchmarking 
C) bracket creep 
D) benefit recalibration 
E) indexing

Question 8

The provision of an interstate highway system is considered to be a:

Accepted Answer

A) liability 
B) labor cost 
C) public good 
D) market structure 
E) tangible good 
A) liability 
B) labor cost 
C) public good 
D) market structure 
E) tangible good

Question 9

Government funds given to a state or locality that are earmarked by law for specific categories are called:

Accepted Answer

A) categorical grants-in-aid 
B) block grants 
C) furtherances 
D) endowments 
E) pass-throughs 
A) categorical grants-in-aid 
B) block grants 
C) furtherances 
D) endowments 
E) pass-throughs

Question 10

The gross domestic product (GDP)is the market value of the goods and services produced in the economy.

Accepted Answer

A) True 
 B)False

Question 11

The allocations of land grants to farmers and to railroad companies by Alexander Hamilton to encourage western settlement are early examples of:

Accepted Answer

A) contracting 
B) lending 
C) deregulation 
D) subsidies 
E) monetary policy 
A) contracting 
B) lending 
C) deregulation 
D) subsidies 
E) monetary policy

Question 12

The market value of the goods and services produced in an economy is the:

Accepted Answer

A) gross national product (GNP) 
B) gross domestic product (GDP) 
C) net national worth 
D) net domestic worth 
E) net international economic contribution 
A) gross national product (GNP) 
B) gross domestic product (GDP) 
C) net national worth 
D) net domestic worth 
E) net international economic contribution

Question 13

The adjustment of Social Security benefits to account for changes in living costs is an example of the practice of:

Accepted Answer

A) inflation 
B) benchmarking 
C) bracket creep 
D) benefit recalibration 
E) indexing 
A) inflation 
B) benchmarking 
C) bracket creep 
D) benefit recalibration 
E) indexing

Question 14

A public good is a good that is provided for the government by citizens.

Accepted Answer

A) True 
 B)False

Question 15

A system of twelve banks in the United States that facilitates exchanges of cash,checks,and credit,as well as regulating member banks,is called the Bank of the United States.

Accepted Answer

A) True 
 B)False

Question 16

What are the goals,tools,and politics of economic policy? Has the government been successful at pursuing its goals?

Accepted Answer

The goals of economic policy typically i

Question 17

Budgetary items that are beyond the ability of budgetary committees to alter and can be changed only by congressional legislation (or,in some instances,not even by congressional legislation)are called:

Accepted Answer

A) unforgivable 
B) discretionaries 
C) uncontrollable 
D) immutables 
E) prohibitions 
A) unforgivable 
B) discretionaries 
C) uncontrollable 
D) immutables 
E) prohibitions

Question 18

Food stamps are an example of a program that:

Accepted Answer

A) is contributory 
B) is non-means-tested 
C) has in-kind benefits 
D) has cash benefits 
E) provides universal benefits 
A) is contributory 
B) is non-means-tested 
C) has in-kind benefits 
D) has cash benefits 
E) provides universal benefits

Question 19

Which term describes a company that provides all the goods and services for a particular market such that competition is nonexistent?

Accepted Answer

A) simplex 
B) unigarchy 
C) autogarchy 
D) monopoly 
E) bully firm 
A) simplex 
B) unigarchy 
C) autogarchy 
D) monopoly 
E) bully firm

Question 20

Contributory programs are financed by taxation,which justifiably can be called:

Accepted Answer

A) extortion 
B) blackmail 
C) forced savings 
D) taxation without representation 
E) inflation-protected investing 
A) extortion 
B) blackmail 
C) forced savings 
D) taxation without representation 
E) inflation-protected investing

Has welfare reform been politically and fiscally successful? Do you believe that welfare will need to be significantly reformed in the foreseeable future?

The government holds the view that consumers are responsible to protect themselves and does little in terms of consumer protection.

Laws that structure the conditions under which you can sell your property are called:

Why are market standards so important to a functioning market economy?

A contract is meaningless unless it is:

Social Security is a rather conservative approach to welfare.

The process of periodically adjusting social benefits or wages to account for increases in the cost of living is called:

The provision of an interstate highway system is considered to be a:

Government funds given to a state or locality that are earmarked by law for specific categories are called:

The gross domestic product (GDP)is the market value of the goods and services produced in the economy.

The allocations of land grants to farmers and to railroad companies by Alexander Hamilton to encourage western settlement are early examples of:

The market value of the goods and services produced in an economy is the:

The adjustment of Social Security benefits to account for changes in living costs is an example of the practice of:

A public good is a good that is provided for the government by citizens.

A system of twelve banks in the United States that facilitates exchanges of cash,checks,and credit,as well as regulating member banks,is called the Bank of the United States.

What are the goals,tools,and politics of economic policy? Has the government been successful at pursuing its goals?

Budgetary items that are beyond the ability of budgetary committees to alter and can be changed only by congressional legislation (or,in some instances,not even by congressional legislation)are called:

Food stamps are an example of a program that:

Which term describes a company that provides all the goods and services for a particular market such that competition is nonexistent?

Contributory programs are financed by taxation,which justifiably can be called:

Introduction: Making Sense of Government and Politics

The Founding and the Constitution

Federalism and the Separation of Powers

Civil Liberties and Civil Rights

Congress: the First Branch

The Presidency

The Executive Branch

The Federal Courts

Public Opinion and the Media

Elections

Political Parties

Groups and Interests

Foreign Policy

Filters

Exam 13: Introduction to Public Policy

Has welfare reform been politically and fiscally successful? Do you believe that welfare will need to be significantly reformed in the foreseeable future?

The government holds the view that consumers are responsible to protect themselves and does little in terms of consumer protection.

Laws that structure the conditions under which you can sell your property are called:

Why are market standards so important to a functioning market economy?

A contract is meaningless unless it is:

Social Security is a rather conservative approach to welfare.

The process of periodically adjusting social benefits or wages to account for increases in the cost of living is called:

The provision of an interstate highway system is considered to be a:

Government funds given to a state or locality that are earmarked by law for specific categories are called:

The gross domestic product (GDP)is the market value of the goods and services produced in the economy.

The allocations of land grants to farmers and to railroad companies by Alexander Hamilton to encourage western settlement are early examples of:

The market value of the goods and services produced in an economy is the:

The adjustment of Social Security benefits to account for changes in living costs is an example of the practice of:

A public good is a good that is provided for the government by citizens.

A system of twelve banks in the United States that facilitates exchanges of cash,checks,and credit,as well as regulating member banks,is called the Bank of the United States.

What are the goals,tools,and politics of economic policy? Has the government been successful at pursuing its goals?

Budgetary items that are beyond the ability of budgetary committees to alter and can be changed only by congressional legislation (or,in some instances,not even by congressional legislation)are called:

Food stamps are an example of a program that:

Which term describes a company that provides all the goods and services for a particular market such that competition is nonexistent?

Contributory programs are financed by taxation,which justifiably can be called:

Introduction: Making Sense of Government and Politics

The Founding and the Constitution

Federalism and the Separation of Powers

Civil Liberties and Civil Rights

Congress: the First Branch

The Presidency

The Executive Branch

The Federal Courts

Public Opinion and the Media

Elections

Political Parties

Groups and Interests

Foreign Policy

Filters