Question 1

Industry Canada administers the ________which aims to make sure that mergers will not restrict competition.

Accepted Answer

A)  Corporations Act
B)  Laissez-Faire Treaty
C)  Food and Drug Act
D)  Competition ActE) A) and D)
F) A) and C)

Question 2

One of the major ways the Bank of Canada influences economic conditions is through its control of interest rates.

Accepted Answer

A) True 
 B)False

Question 3

Fiscal policy involves increases or decreases in:

Accepted Answer

A)  exports and imports.
B)  interest rates.
C)  the money supply.
D)  government spending and taxes.E) All of the above
F) None of the above

Question 4

When advanced technology is involved in government purchasing,governments make a strong effort to ensure that some of the manufacturing is done in Canada.

Accepted Answer

A) True 
 B)False

Question 5

Government withdrawing certain laws and regulations that hinder competition is known as what?

Accepted Answer

A)  deregulation
B)  privatization
C)  public corporations
D)  co-operativesE) C) and D)
F) All of the above

Question 6

The Alberta Heritage Savings Trust Fund and Québec's Caisse de dépôt et placement are examples of two important federal crown corporations.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

Which of the following statements about government deficit spending is most accurate?

Accepted Answer

A)  The federal government violates the law by running deficits because the Canadian Constitution requires the government to balance its budget each year.
B)  One reason the government has a hard time reducing deficits is that there is a great deal of pressure on the government to expand its spending and transfer payments each year.
C)  Although the government used to run big deficits,it has consistently run surpluses since the late 1980s.
D)  The government has used deficit spending to lower the national debt.E) B) and C)
F) A) and B)

Question 10

The Competitions Bureau sometimes launches investigations to ensure fair completion.

Accepted Answer

A) True 
 B)False

Question 11

Governments play a very minor role in the Canadian economic system.

Accepted Answer

A) True 
 B)False

Question 12

Some crown corporations have been set up to provide services not provided by businesses.

Accepted Answer

A) True 
 B)False

Question 13

The federal government has a "buy foreign" policy when it comes to significant military acquisitions.

Accepted Answer

A) True 
 B)False

Question 14

Efforts by the Bank of Canada to control the money supply and interest rates are known as:

Accepted Answer

A)  fiscal policy.
B)  monetary policy.
C)  incomes policy.
D)  securities policy.E) A) and B)
F) A) and C)

Question 15

Transfer payments are direct payments from governments to other governments.

Accepted Answer

A) True 
 B)False

Question 16

In the subprime mortgage crisis,Canadian financial institutions:

Accepted Answer

A)  did not face the high default rates faced by homeowners in the United States.
B)  did not require any aid from the federal government.
C)  faced higher default rates than were found in the United States.
D)  lost more money than did all U.S.financial institutions.E) A) and B)
F) C) and D)

Question 17

Canadian financial institutions faced the same high mortgage default rates as were found in the United States.

Accepted Answer

A) True 
 B)False

Question 18

The Bank of Canada's responsibilities includes setting fiscal policy.

Accepted Answer

A) True 
 B)False

Question 19

A policy of the first Canadian government developed by Sir John A.MacDonald to place high tariffs on imports thereby protecting Canadian manufacturers was called:

Accepted Answer

A)  GATT or the General Agreement on Tariffs and Trade
B)  Anti-dumping duty
C)  the National Policy
D)  the tariff board lawsE) A) and D)
F) B) and C)

Question 20

Name two services municipal governments provide in Canada.

Accepted Answer

Water supply,sewage and garbag...

Exam 4: The Role of Government in Business Appendix a Working Within the Legal Environment of Business

Canadian financial institutions faced the same high mortgage default rates as were found in the United States.

Correct AnswerverifiedShow Answer

The Competitions Bureau sometimes launches investigations to ensure fair completion.

Correct AnswerverifiedShow Answer

Which of the following statements about government deficit spending is most accurate?

Correct AnswerverifiedShow Answer

Governments play a very minor role in the Canadian economic system.

Correct AnswerverifiedShow Answer

A policy of the first Canadian government developed by Sir John A.MacDonald to place high tariffs on imports thereby protecting Canadian manufacturers was called:

Correct AnswerverifiedShow Answer

Industry Canada administers the ________which aims to make sure that mergers will not restrict competition.

Correct AnswerverifiedShow Answer

The Bank of Canada's responsibilities includes setting fiscal policy.

Correct AnswerverifiedShow Answer

Transfer payments are direct payments from governments to other governments.

Correct AnswerverifiedShow Answer

Some crown corporations have been set up to provide services not provided by businesses.

Correct AnswerverifiedShow Answer

Government withdrawing certain laws and regulations that hinder competition is known as what?

Correct AnswerverifiedShow Answer

Fiscal policy involves increases or decreases in:

Correct AnswerverifiedShow Answer

When advanced technology is involved in government purchasing,governments make a strong effort to ensure that some of the manufacturing is done in Canada.

Correct AnswerverifiedShow Answer

Name two services municipal governments provide in Canada.

Correct AnswerverifiedWater supply,sewage and garbag...View AnswerShow Answer

One of the major ways the Bank of Canada influences economic conditions is through its control of interest rates.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The Alberta Heritage Savings Trust Fund and Québec's Caisse de dépôt et placement are examples of two important federal crown corporations.

Correct AnswerverifiedShow Answer

Efforts by the Bank of Canada to control the money supply and interest rates are known as:

Correct AnswerverifiedShow Answer

In the subprime mortgage crisis,Canadian financial institutions:

Correct AnswerverifiedShow Answer

The federal government has a "buy foreign" policy when it comes to significant military acquisitions.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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Water supply,sewage and garbag...
View Answer

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