Economic Controls and Regulations Quiz
Test your knowledge on fiscal & monetary policies, trade sanctions, antitrust laws, and more in this Regulatory Economics quiz.
#1
Which of the following is an example of a fiscal policy tool?
Quantitative easing
Raising/lowering taxes
Open market operations
Setting reserve requirements
#2
What does 'Monetary Policy' primarily aim to control?
Government spending
Inflation and interest rates
International trade
Income distribution
#3
What is the primary goal of imposing trade sanctions?
To increase international trade
To promote economic growth
To deter undesirable behavior
To stabilize exchange rates
#4
Which of the following is NOT a tool of trade policy?
Tariffs
Embargoes
Unemployment benefits
Quotas
#5
Which of the following is NOT a goal of government regulation in the economy?
Ensuring consumer safety
Minimizing market distortions
Maximizing corporate profits
Promoting fair competition
#6
Which organization is responsible for regulating monetary policy in the United States?
The World Bank
The International Monetary Fund
The Federal Reserve
The Securities and Exchange Commission
#7
What is the 'Taylor Rule' used for in economics?
To estimate potential GDP
To forecast stock market movements
To determine optimal interest rates
To regulate government spending
#8
What is the main objective of antitrust laws?
To promote competition and prevent monopolies
To encourage collusion among firms
To restrict consumer choices
To increase government intervention in markets
#9
Which economic concept refers to the maximum price set by a government to prevent prices from rising above a certain level?
Price floor
Price ceiling
Price elasticity
Price discrimination
#10
Which of the following is an example of a contractionary monetary policy measure?
Decreasing interest rates
Buying government securities
Raising reserve requirements
Increasing government spending
#11
Which of the following is an example of a capital control measure?
Imposing tariffs on imported goods
Restrictions on foreign currency exchange
Increasing minimum wage
Reducing corporate taxes
#12
What is a common objective of environmental regulations in the context of economic policy?
To increase pollution levels for economic growth
To reduce greenhouse gas emissions
To encourage deforestation
To lower environmental standards for businesses
#13
What is the main purpose of licensing requirements in certain industries?
To promote competition
To reduce barriers to entry
To ensure quality standards and consumer safety
To encourage monopolistic practices
#14
Which of the following is a characteristic of a command economy?
Private ownership of the means of production
Centralized government control over economic activities
Laissez-faire economic policies
Free market allocation of resources
#15
What is the primary purpose of consumer protection laws?
To increase consumer prices
To encourage unethical business practices
To safeguard consumers against fraud and deception
To reduce product quality standards
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