Ch. 16 - 1. _ are the centerpiece of George W. Bush's...

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1. ____ are the centerpiece of George W. Bush’s economic policy. 4. Tax cuts 2. Over the past two decades, economic inequality in America has 4. significantly increased. 3. When the government’s goals are embodied in a law or an order, backed by punishments or rewards, it is best described as 4. public policy. 4 Public policy can be embodied in all of the following forms except
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1. All of the above are forms of public policy. 2. an order. 3. a law. 4. an administrative rule. 5. Which of the following statements about the relationship between government and capitalism is false ? 2. Before the Progressive Era, the marketplace was untouched by government interference. 6. What year was the beginning of the Great Depression? 3. 1929 7. Which of the following is the best description of the changing expectations of government’s role in the economy since the 1930s?
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2. People hold the government responsible for a healthy economy. 8. The rise of Napster in the 1990s and other music exchange services demonstrates 1. that new technologies have made it more difficult for the government to protect property. 9. The phrase caveat emptor means 2. let the buyer beware. 10. Why do many businesses prefer Congress to regulate the economy? 1. One national regulation is better than the inconsistencies and
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disparities of different state laws. 11. 2. publicly regulated monopoly. 12. Which of the following companies has recently been sued by the federal government for monopoly practices? 2. Microsoft 13. Something that must be supplied by the government because it cannot be provided by the marketplace is called a 2. public good.
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14. Which of the following is the best example of a public good? 3. the interstate highway system 15. Who first elaborated the theory of a laissez-faire economy? 4. Adam Smith 16. Adam Smith’s theory of _____ argues that many individual economic transactions come together to create a greater good for all. 2. the invisible hand
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17. Classic laissez-faire theory argues all of the following except that 1. a truly efficient government allows private enterprise to provide all government services. 18.
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Ch. 16 - 1. _ are the centerpiece of George W. Bush's...

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