Chapter 4 Role Of Government In Business

Question 1

Crown corporations

Answer 1

Companies that are owned by federal or provincial government

Question 2

Privatization

Answer 2

Process of government selling crown corporations

Question 3

Deregulation

Answer 3

Government withdrawal of certain laws and regulations that hinder competition

Question 4

Marketing boards

Answer 4

Organizations control supply or pricing of cerium agricultural products in Canada

Question 5

Fiscal policy

Answer 5

Federal government effort to keep the economy stable by increasing or decreasing taxes or government spending

Question 6

Deficit

Answer 6

A government spends above and beyond the amount it collects in taxes

Question 7

Surplus

Answer 7

Excess of revenues over expenditures

Question 8

Federal budget

Answer 8

Comprehensive report that reveals government financial policies for the coming year

Question 9

Monetary policy

Answer 9

Management of the money supply and interest rates

Question 10

Industrial policy

Answer 10

Comprehensive, coordinated government plan to guide and revitalize the economy

Question 11

National policy

Answer 11

High tariffs on imports from USA to protect Canadian manufacturing