Question 1

What did Congress do in 1995 to reduce overregulation?

Accepted Answer

A)   It cut funding for regulatory agencies like the EPA and Securities and Exchange Commission.
B)   It passed the Airlines Deregulation Act, which eliminated government-set airfares and the requirement that airlines provide service to smaller-sized cities.
C)   It restricted the president's ability to directly request administrative regulations from agency heads.
D)   It cut the budget of the Food and Drug Administration.
E)   It enacted legislation that prohibits administrators in some instances from issuing a regulation unless they can show that its benefits outweigh its costs.F) C) and D)
G) B) and C)

Question 2

What has been the preferred strategy of U.S. lawmakers for combating the problem of global warming?

Accepted Answer

A)   reducing regulation on businesses to allow more private-sector solutions to develop creatively
B)   raising interest rates to slow down the economy
C)   business-tradable carbon tax credits
D)   reduction of carbon emissions
E)   alternative energy sources and energy conservationF) B) and C)
G) B) and E)

Question 3

The term externalities refers to

Accepted Answer

A)   regulations imposed on a firm by government.
B)   a nation that is a trading partner of another nation.
C)   the costs of production that are incurred by society.
D)   tariffs imposed on American goods exported to other countries.
E)   None of these answers is correct.F) D) and E)
G) B) and D)

Question 4

Which of the following statements BEST describes the relationship today between government and the economy in the United States?

Accepted Answer

A)   The economy is largely self-regulating.
B)   The government subsidizes economic interests but otherwise leaves them to operate as they please.
C)   The government is the driving force in the U.S. economy; business has a secondary role.
D)   The government has an important role in regulating and maintaining the U.S. economy.
E)   The government owns most of the means of production in the United States.F) C) and E)
G) A) and B)

Question 5

The $787 billion stimulus bill passed by Congress in 2009

Accepted Answer

A)   illustrated classic supply-side principles.
B)   focused primarily on lowering tax rates for businesses.
C)   was passed with strong bipartisan support.
D)   had almost no Republican support.
E)   was not necessary according to most Democratic-leaning economists.F) C) and D)
G) A) and E)

Question 6

________ wrote The Silent Spring in 1962.

Accepted Answer

A)   Al Gore
B)   George W. Bush
C)   Greenpeace
D)   Rachel Carson
E)   The Sierra ClubF) All of the above
G) A) and D)

Exam 15: Economic and Environmental Policy: Contributing to Prosperity

What did Congress do in 1995 to reduce overregulation?

Correct Answer
verified

The term externalities refers to

Correct Answer
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The $787 billion stimulus bill passed by Congress in 2009

Correct Answer
verified

Which of the following statements BEST describes the relationship today between government and the economy in the United States?

Correct Answer
verified

What has been the preferred strategy of U.S. lawmakers for combating the problem of global warming?

Correct Answer
verified

________ wrote The Silent Spring in 1962.

Correct Answer
verified

Exam 15: Economic and Environmental Policy: Contributing to Prosperity

What did Congress do in 1995 to reduce overregulation?

Correct AnswerverifiedShow Answer

The term externalities refers to

Correct AnswerverifiedShow Answer

The $787 billion stimulus bill passed by Congress in 2009

Correct AnswerverifiedShow Answer

Which of the following statements BEST describes the relationship today between government and the economy in the United States?

Correct AnswerverifiedShow Answer

What has been the preferred strategy of U.S. lawmakers for combating the problem of global warming?

Correct AnswerverifiedShow Answer

________ wrote The Silent Spring in 1962.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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