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Exam 4: The Role of Government in Business

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Question 31

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The national deficit is the difference between our nation's exports and its imports.

A) True
B) False

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Question 32

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In the 1870s,Canadian manufacturers did not require tariff protection as the small population was not large enough to interest U.S.manufacturers.

A) True
B) False

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Question 33

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The economic goal of monetary and fiscal policy is to keep the economy growing.

Explain the difference between fiscal policy and monetary policy.Discuss how each of these approaches can be used to influence the state of the economy.

The Bank of Canada is concerned that the economy is growing too rapidly.Given these concerns,it is likely to pursue policies to restrict the supply of money and raise interest rates.

The 2012 budget allocated billions of dollars in equalization payments to ten provinces in 2012-2013.

Governments are large employers in Canada.

One way to lessen annual deficits is to cut government spending.

The federal government and most provincial and all large municipal governments have various ministries,departments,and agencies that provide a variety of services to assist companies in their exporting and foreign-investment activities.What do these services include?

The annual Canadian federal budget reveals federal government financial policies for the coming year.

____________ refers to the efforts of the federal government to keep the economy stable by increasing or decreasing taxes and/or government spending.

The sole purpose of Canada's federal Competition Act is to ensure that all advertising done by corporations meets government standards.

In special,unplanned but important cases threatening the survival of a major company,the government has a policy of non-intervention.

Payments from the federal government to the lower-income provinces are called legislative payments.

Aerospace is an area of research by the National Research Council.

Governments throughout Canada are privatizing services that they have traditionally offered in response to:

The Bank of Canada lowers interest rates:

Federal and provincial governments use their enormous purchasing power to:

Federal and provincial policies to help Canadian businesses are being modified due to _____?

Canada's history is replete with many successful examples of government stepping in to produce solutions when the market couldn't such as the setting up of the CNR and Air Canada.