Government’s Role in Business

The government discourages competition among businesses.

• True

• False

The Small Business Administration provides low-cost loans, advice and other assistance to small businesses.

• True

• False

Common law is based on precedents established by judges’ decisions.

• True

• False

The Sherman Antitrust Act of 1890 did which of the following?

• Established the Federal Trade Commission

• Established the Federal Reserve Bank

• Allowed the government to break up companies with control of a market

What year was the Federal Trade Commission established?

• 1890

• 1901

• 1915

What is the term for the removal or relaxation of the rules affecting businesses within certain industries?

• Regulation

• Deregulation

• Exertion

• Inexertion

The Federal Reserve seeks an unemployment rate below _____________ percent.

• 2.8

• 3.4

• 6.5

Which of the following determines the size and rate of growth of the money supply?

• Open markets

• Monetary policy

• grievance procedure

• Unionization

When union representatives and management come together to discuss issues arising between employees and employers this is known as which of the following? A.

• Featherbedding

• Uionizing

• Striking

• Collective bargaining

What did the Taft-Hartley Act of 1947 legalize?

• Closed shops

• Labor unions

• Right-to-work laws

• Collective bargaining