week 9 questions Flashcards
What was the primary focus of Wayne Taylor’s research in the mid-90s regarding business and government?
A) The effectiveness of government policies on small businesses
B) Attitudes of business and government elites towards government intervention
C) The impact of government intervention on international trade
D) The role of government in regulating monopolies
B) Attitudes of business and government elites towards government intervention
What perception did business leaders have about government intervention, as found in Wayne Taylor’s research?
A) They were generally supportive of government intervention
B) They felt government intervention was insufficient
C) They believed there was too much government intervention
D) They were indifferent to government intervention levels
C) They believed there was too much government intervention
According to Wayne Taylor’s research in the mid-90s, what was a common stance of both business and government elites regarding public enterprise intervention?
A) They were largely supportive.
B) They were divided in their opinions.
C) They generally opposed it.
D) They had no clear stance on this issue.
C) They generally opposed it.
What was the view of business and government elites towards NAFTA and global trade?
A) Both opposed NAFTA and freer global trade.
B) Both supported NAFTA and freer global trade.
C) Business supported, but government opposed.
D) Government supported, but business opposed.
B) Both supported NAFTA and freer global trade.
How is a regulatory agency defined in the context of government policy?
A) An independent organization promoting business interests.
B) A statutory body responsible for controlling a specific activity in the public interest.
C) A governmental advisory board for economic matters.
D) An agency focusing solely on tax regulation.
B) A statutory body responsible for controlling a specific activity in the public interest.
What is the primary focus of social regulation?
A) Economic efficiency and market control.
B) Serving social objectives like health and safety, and environmental protection.
C) Regulation of financial markets and institutions.
D) Controlling the import and export of goods.
B) Serving social objectives like health and safety, and environmental protection.
What are some of the problems associated with regulation as mentioned in the presentation?
A) Increased efficiency and reduced costs.
B) Boost in consumer protection and compliance.
C) Cost of regulation and issues with competitiveness and compliance.
D) Enhanced market freedom and deregulation.
C) Cost of regulation and issues with competitiveness and compliance.
What is often cited as an economic rationale for regulation?
A) Promoting free market competition.
B) Encouraging private monopolies.
C) Destructive competition and natural monopolies.
D) Total deregulation of industries.
C) Destructive competition and natural monopolies.
What role does the ‘Fourth branch of government’ refer to in the context of regulation?
A) The judicial system.
B) Regulatory agencies.
C) The executive branch.
D) The legislative assembly.
B) Regulatory agencies.
What is meant by ‘economic regulation’ as discussed in the presentation?
A) Regulation aimed at cultural preservation.
B) Regulation focusing on social welfare and healthcare.
C) Regulation directed at specific industries or markets, influencing factors like prices and output.
D) Regulation targeting individual businesses for tax purposes.
C) Regulation directed at specific industries or markets, influencing factors like prices and output.
What are some political rationales for regulation mentioned in the presentation?
A) Enhancing international trade relations.
B) Social equality and preserving national identity.
C) Encouraging private sector growth.
D) Reducing government spending.
B) Social equality and preserving national identity.
What mechanisms exist for the accountability and control of regulatory agencies?
A) Market forces and consumer feedback.
B) International regulatory bodies.
C) Enabling legislation, cabinet approval, and directives.
D) Private sector audits and evaluations.
C) Enabling legislation, cabinet approval, and directives.
What is one of the major concerns associated with regulation, as highlighted in the presentation?
A) Increased market efficiency.
B) Enhanced consumer protection.
C) The cost of regulation and its impact on competitiveness.
D) Unrestricted business growth.
C) The cost of regulation and its impact on competitiveness.
What is the primary concern of regulatory agencies as defined in the presentation?
A) Promoting global trade.
B) Ensuring governmental transparency.
C) Administering and regulating an activity in the public interest.
D) Focusing exclusively on economic gains.
C) Administering and regulating an activity in the public interest.
