Economic Policy

Question 1

Which phrase is the best definition of public policy?

Revolt · Accepted Answer

actions a government takes when responding to a public problem

Question 2

What are the main goals of economic policy within a free-enterprise system? Check all that apply.to limit the number of producers that can enter a given marketto ensure that the economic needs of citizens are met, such as employmentto ensure that the market is fair, allowing for competition and consumer choiceto guarantee that all producers are maximizing profitsto work toward solving the problem of poverty

Revolt · Accepted Answer

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

Question 3

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

Revolt · Accepted Answer

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

Question 4

Question 5

Revolt · Accepted Answer

form a solution

Question 5

Question 6

Revolt · Accepted Answer

implements the solution

Question 6

Question 16

Revolt · Accepted Answer

The government of Country A has lowered taxes to allow citizens to bring home more money in every paycheck. This is an example of .: fiscal policy; 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 .: trade policy; The government of Country C has created protections for employees within factories to ensure their physical safety. This is an example of .: regulatory policy

Question 7

✔ fiscal policyregulatory policymonetary policy

Revolt · Accepted Answer

✔ fiscal policy; The government of Country A has lowered taxes to allow citizens to bring home more money in every paycheck. This is an example of .: fiscal policy; 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 .: trade policy; The government of Country C has created protections for employees within factories to ensure their physical safety. This is an example of .: regulatory policy

Question 8

regulatory policy✔ trade policymonetary policy

Revolt · Accepted Answer

✔ trade policy

Question 9

fiscal policymonetary policy✔ regulatory policy

Revolt · Accepted Answer

✔ regulatory policy

Question 10

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

attempting to trade with other nations to increase production and create new jobs

Economic Policy Answers

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