Introduction to Economics

Question 1

Which phrase is the best definition of public policy?

Revolt · Accepted Answer

C: actions a government takes when responding to a public problem

Question 2

The main reason governments address public problems through policy is

Revolt · Accepted Answer

A: to ensure that citizens’ needs are met and protected.

Question 3

What are the main goals of economic policy within a free-enterprise system? Check all that apply.

Revolt · Accepted Answer

B: to ensure that the economic needs of citizens are met, such as employment; C: to ensure that the market is fair, allowing for competition and consumer choice; E: to work toward solving the problem of poverty

Question 4

1.Public policy begins with . 2.Then, government officials . 3.Finally, a government agency .

Revolt · Accepted Answer

Selection 1: identifying an issue; Selection 2: form a solution; Selection 3: implements the solution

Question 5

The government of Country A has lowered taxes to allow citizens to bring home more money in every paycheck. This is an example of . The government of Country B has decided to stop trading with outside nations in the hope of boosting demand for domestic goods. This is an example of . The government of Country C has created protections for employees within factories to ensure their physical safety. This is an example of .

Revolt · Accepted Answer

Selection 1: fiscal policy; Selection 2: trade policy; Selection 3: regulatory policy

Question 6

Country Q has noticed a rapid increase in their unemployment rate and a sharp decline in their GDP.What should policy makers focus on to help balance these economic indicators?

Revolt · Accepted Answer

B: increasing the money supply so that consumers have more money to purchase goods

Question 7

Question 7

Revolt · Accepted Answer

C

Question 8

Question 8

Revolt · Accepted Answer

B

Question 9

Question 9

Revolt · Accepted Answer

A

Question 10

Question 10

Revolt · Accepted Answer

C

Introduction to Economics Answers

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