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________ wrote The Silent Spring in 1962.


A) Al Gore
B) George W. Bush
C) Greenpeace
D) Rachel Carson
E) The Sierra Club

F) A) and B)
G) C) and E)

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Democrats in Washington have usually responded to high levels of unemployment with


A) reduced government spending.
B) increased government spending.
C) increased government taxes.
D) decreased government taxes.
E) decreased government regulation.

F) A) and B)
G) A) and C)

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The term externalities refers to


A) regulations imposed on a firm by government.
B) a nation that is a trading partner of another nation.
C) unpaid costs of production that are incurred by society.
D) tariffs imposed on American goods exported to other countries.
E) None of these answers is correct.

F) B) and D)
G) B) and C)

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About what percentage of the annual federal budget is accounted for by the interest paid on the national debt?


A) 50%
B) 5%
C) 25%
D) 15%
E) 2%

F) B) and E)
G) A) and B)

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The ________ established minimum wages and constraints on the use of child labor.


A) Securities and Exchange Act of 1934
B) Banking Act of 1934
C) Airlines Deregulation Act of 1977
D) Fair Labor Standards Act of 1938
E) Homestead Act of 1862

F) B) and D)
G) C) and D)

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Government benefits for business include all of the following EXCEPT


A) low-interest loans and government-guaranteed loans.
B) corporate tax breaks.
C) a national transportation system.
D) minimum-wage laws.
E) a national education system.

F) B) and C)
G) All of the above

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Which is true regarding the nation's environmental policy?


A) The first major steps by the national government to clean up the environment began in the early 1900s.
B) A majority of the public is sympathetic to environmentalism.
C) The modern environmental movement gained impetus with the publication of Armageddon in 1949.
D) In the 1960s, the government began a policy of land conservation through the creation of national parks.
E) A majority of the public is not sympathetic to environmentalism.

F) A) and D)
G) C) and D)

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Supply-side economics,as implemented by President George W.Bush's administration,involved


A) the supply component of the supply-demand equation.
B) stressing the importance of tax cuts for businesses.
C) stressing the importance of tax cuts for the wealthy.
D) an increase in the size of the national debt.
E) All these answers are correct.

F) A) and B)
G) C) and D)

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Describe Adam Smith's laissez-faire model of economics.

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Laissez-faire capitalism holds that priv...

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Which of the following government agencies regulates business competition?


A) Federal Trade Commission
B) Interstate Commerce Commission
C) Antitrust Division of the Justice Department
D) all of these: the Federal Trade Commission; the Interstate Commerce Commission; and the Antitrust Division of the Justice Department
E) None of these answers is correct.

F) None of the above
G) A) and C)

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The first national park was created at ________ in 1872.


A) Acadia
B) Yellowstone
C) Yosemite
D) Mammoth Cave
E) the Grand Canyon

F) A) and E)
G) B) and D)

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Economic efficiency requires


A) that the free market not be regulated by government.
B) that the output of goods and services is the highest possible given the amount of input used to produce them.
C) the economy to be organized around large firms.
D) economic transactions to be fair to each party.
E) economic transactions to be equal to each party.

F) None of the above
G) A) and E)

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Earth Day was the brainchild of Senator


A) Ted Kennedy.
B) Robert Byrd.
C) Mike Mansfield.
D) Ted Stevens.
E) Gaylord Nelson.

F) B) and E)
G) A) and D)

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The Tennessee Valley Authority is


A) an electricity industry owned by the United States.
B) a private industry regulated by the United States.
C) a private electricity industry exempt from government regulation.
D) a private environmental organization that receives federal funding.
E) a private environmental organization with power to regulate industry.

F) A) and E)
G) A) and B)

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