Governments Role In Economy Review Question Preview (ID: 12875)


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What is the definition of trusts?
a) Combinations of corporations or companies
b) Practice of charging customers different prices for the same products.
c) A ruling requiring a company to stop an unfair business practice.
d) A government regulation that fulfills a need for public goods.

What is the definition of price discrimination?
a) Combinations of corporations or companies.
b) Practice of charging customers different prices for the same products.
c) A ruling requiring a company to stop an unfair business practice.
d) A government regulation that fulfills a need for public goods.

All of the following are examples of modified free enterprise within the US except
a) Preventing monopolies
b) Regulating natural monopolies
c) Fulfilling the need for public goods
d) having foreign embassies

What type of tax would a person who has a high income like, if they preferred to have a lower percentage rate of taxation on their income.
a) Regressive Tax
b) Proportional Tax
c) Progressive Tax
d)

Who has the incidence of a tax, if a city raise taxes on a local utility company and the utility company keeps its rates the same to their customers?
a) The local government
b) The utility company
c) The utility company's employees
d) The utility company's customers (the consumers)

The free rider problem refers to a situation where some individuals in a population consume less than their fair share of a common resource.
a) False
b) True
c) Not this one
d) Not this one

Which one of the following aren't one of the three macroeconomic goals to determine the health of an economy?
a) Control air pollution
b) High and sustained economic growth
c) Low unemployment
d)

Income tax is an example of what principle of taxation?
a) The benefit principle of taxation
b) The ability to pay principle of taxation
c) Not this one
d) Not this one

National park admission fees is an example of what principle of taxation?
a) Benefit principle of taxation
b) Ability to pay principle of taxation
c) Not this one
d) Not this one

Which one of the following is an example of a public good?
a) Private college
b) Fish sold at Walmart
c) Lighthouse
d) Target Field (New Twins Stadium)

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