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The Role of Government Chap 7 Lesson 3

Quiz by Peter Duesterbeck

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10 questions
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  • Q1
    Laws and regulations have been adopted in the United States to promote competition among firms.
    true
    false
    30s
  • Q2
    In the United States, the federal government enforces antitrust laws and regulations to try to maintain effective levels of competition.
    true
    false
    30s
  • Q3
    Price discrimination is the practice of setting prices to maximize sales.
    false
    true
    30s
  • Q4
    A mortgage is a document in which a lender reclaims a property due to a lack of payment by the borrower.
    true
    false
    30s
  • Q5
    Because private business is involved in certain aspects of our economy, it is a modified version of free enterprise.
    true
    false
    30s
  • Q6
    Which would an economist say best describes a “trust”?
    a public good
    an illegal combination
    a federal order
    a feeling in a market
    30s
  • Q7
    Which of the following is a benefit for monopolies?
    the Federal Trade Commission Act
    foreclosure
    cease and desist order
    economies of scale
    30s
  • Q8
    The government does not try to eliminate all monopolies. Why?
    Not all monopolies are bad.
    There aren't any monopolies anymore.
    It would be impossible.
    The government itself is a monopoly.
    30s
  • Q9
    By promoting transparency, the government can improve ______________.
    economies of scale
    profit margins
    zoning
    market efficiency
    30s
  • Q10
    What level of government is most closely associated with zoning?
    state
    federal
    interstate
    local
    30s

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