Question 1

Some government aid is designed to help industries and companies that are deemed to be very important because they:

Accepted Answer

A)  are at the cutting edge of technology.
B)  oriented towards imports.
C)  are in other countries.
D)  provide low skilled jobs.E) B) and C)
F) A) and B)

Question 2

Industry Canada administers a variety of laws affecting businesses and consumers.

Accepted Answer

A) True 
 B)False

Question 3

Fiscal policy looks at the money supply and interest rates.

Accepted Answer

A) True 
 B)False

Question 4

Zoning laws:

Accepted Answer

A)  set up speed-limit zones for traffic
B)  limit the depth of building basements
C)  regulate noise,smells,signs
D)  restrict truck sizeE) A) and C)
F) B) and D)

Question 5

Which one of these companies received $1 billion in financing from the Quebec government in 2013?

Accepted Answer

A)  Ford
B)  Bombardier
C)  Chrysler Corporation
D)  General MotorsE) A) and B)
F) A) and C)

Question 6

In Canada,we have a special system of marketing boards that control the pricing of certain agricultural products.

Accepted Answer

A) True 
 B)False

Question 7

Direct payments from governments to other governments or to individuals is known as what?

Accepted Answer

A)  Specialized purchasing policies.
B)  Debt reduction.
C)  Monetary policy.
D)  Transfer payments.E) C) and D)
F) A) and B) D

Question 8

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

Accepted Answer

A)  new laws and regulations that have been passed mandating that these services be privatized.
B)  as a means of increasing the scope of their involvement in the economy.
C)  an opportunity to realize huge ongoing profits from royalties they will collect from private companies who acquire these services.
D)  as a means to reduce the role of government in the economy.E) All of the above
F) A) and C)

Question 9

Equalization is viewed as a means of maintaining the same level of taxation across Canada,although the level of services provided will vary.

Accepted Answer

A) True 
 B)False

Question 10

Larry wants to buy a new car,and is planning to borrow the money for his purchase from a bank.He has just read in the newspapers that the Bank of Canada is likely to implement policies in the next few weeks that are designed to stimulate the economy,which is currently in a recession.Larry would probably get a lower interest rate on his car loan if he waits until after the Bank of Canada implements its new policies.

Accepted Answer

A) True 
 B)False

Question 11

The removal of interprovincial trade barriers would mean

Accepted Answer

A)  increased labour mobility
B)  lower tax revenues
C)  a difficult period of adjustment as uncompetitive operations are closed
D)  the loss of even more jobs to foreign countriesE) A) and B)
F) A) and C)

Question 12

The 2015-2016 budget allocated billions of dollars in equalization payments to ten provinces.

Accepted Answer

A) True 
 B)False

Question 13

The Ontario government has looked at selling such crown corporations as the Liquor Control Board of Ontario.

Accepted Answer

A) True 
 B)False

Question 14

Monetary policy is directly under the control of the Bank of Canada.

Accepted Answer

A) True 
 B)False

Question 15

Fiscal policy refers to the federal government's efforts to keep the economy stable by controlling the amount of money in circulation.

Accepted Answer

A) True 
 B)False

Question 16

How does the National Research Council (NRC)play a significant role in research to help Canadian industry remain competitive?

Accepted Answer

The NRC has been mandated to provide substantial resources to help Canada become one of the world's most effective research and development organization,stimulating sustainable domestic prosperity.

Question 17

The Agreement on Internal Trade (AIT)is an intergovernmental trade agreement.

Accepted Answer

A) True 
 B)False

Question 18

When the government runs a budget deficit it increases the:

Accepted Answer

A)  federal capital account.
B)  money supply.
C)  balance of payments deficit.
D)  national debt.E) A) and D)
F) C) and D)

Question 19

The Bank of Canada operates:

Accepted Answer

A)  as a Crown Corporation.
B)  under the direction of the Banking Oversight Committee of Parliament.
C)  as a special agency of the Canadian Treasury Board.
D)  under the direct control of the executive branch of the government.E) C) and D)
F) A) and C)

Question 20

During the subprime mortgage crisis the Bank of Canada continued to raise its lending rate.

Accepted Answer

A) True 
 B)False  False

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

Some government aid is designed to help industries and companies that are deemed to be very important because they:

Correct Answer
verified

Industry Canada administers a variety of laws affecting businesses and consumers.

Correct Answer
verified

Fiscal policy looks at the money supply and interest rates.

Correct Answer
verified

Zoning laws:

Correct Answer
verified

Which one of these companies received $1 billion in financing from the Quebec government in 2013?

Correct Answer
verified

In Canada,we have a special system of marketing boards that control the pricing of certain agricultural products.

Correct Answer
verified

Direct payments from governments to other governments or to individuals is known as what?

Correct Answer
verified
D

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

Correct Answer
verified

Equalization is viewed as a means of maintaining the same level of taxation across Canada,although the level of services provided will vary.

Correct Answer
verified

Correct Answer
verified

The removal of interprovincial trade barriers would mean

Correct Answer
verified

The 2015-2016 budget allocated billions of dollars in equalization payments to ten provinces.

Correct Answer
verified

The Ontario government has looked at selling such crown corporations as the Liquor Control Board of Ontario.

Correct Answer
verified

Monetary policy is directly under the control of the Bank of Canada.

Correct Answer
verified

Fiscal policy refers to the federal government's efforts to keep the economy stable by controlling the amount of money in circulation.

Correct Answer
verified

How does the National Research Council (NRC)play a significant role in research to help Canadian industry remain competitive?

Correct Answer
verified
The NRC has been mandated to provide substantial resources to help Canada become one of the world's most effective research and development organization,stimulating sustainable domestic prosperity.

The Agreement on Internal Trade (AIT)is an intergovernmental trade agreement.

Correct Answer
verified

When the government runs a budget deficit it increases the:

Correct Answer
verified

The Bank of Canada operates:

Correct Answer
verified

During the subprime mortgage crisis the Bank of Canada continued to raise its lending rate.

Correct Answer
verified
False

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

Some government aid is designed to help industries and companies that are deemed to be very important because they:

Correct AnswerverifiedShow Answer

Industry Canada administers a variety of laws affecting businesses and consumers.

Correct AnswerverifiedShow Answer

Fiscal policy looks at the money supply and interest rates.

Correct AnswerverifiedShow Answer

Zoning laws:

Correct AnswerverifiedShow Answer

Which one of these companies received $1 billion in financing from the Quebec government in 2013?

Correct AnswerverifiedShow Answer

In Canada,we have a special system of marketing boards that control the pricing of certain agricultural products.

Correct AnswerverifiedShow Answer

Direct payments from governments to other governments or to individuals is known as what?

Correct AnswerverifiedD

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

Correct AnswerverifiedShow Answer

Equalization is viewed as a means of maintaining the same level of taxation across Canada,although the level of services provided will vary.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The removal of interprovincial trade barriers would mean

Correct AnswerverifiedShow Answer

The 2015-2016 budget allocated billions of dollars in equalization payments to ten provinces.

Correct AnswerverifiedShow Answer

The Ontario government has looked at selling such crown corporations as the Liquor Control Board of Ontario.

Correct AnswerverifiedShow Answer

Monetary policy is directly under the control of the Bank of Canada.

Correct AnswerverifiedShow Answer

Fiscal policy refers to the federal government's efforts to keep the economy stable by controlling the amount of money in circulation.

Correct AnswerverifiedShow Answer

How does the National Research Council (NRC)play a significant role in research to help Canadian industry remain competitive?

Correct AnswerverifiedThe NRC has been mandated to provide substantial resources to help Canada become one of the world's most effective research and development organization,stimulating sustainable domestic prosperity.

The Agreement on Internal Trade (AIT)is an intergovernmental trade agreement.

Correct AnswerverifiedShow Answer

When the government runs a budget deficit it increases the:

Correct AnswerverifiedShow Answer

The Bank of Canada operates:

Correct AnswerverifiedShow Answer

During the subprime mortgage crisis the Bank of Canada continued to raise its lending rate.

Correct AnswerverifiedFalse

Correct Answer
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D

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
The NRC has been mandated to provide substantial resources to help Canada become one of the world's most effective research and development organization,stimulating sustainable domestic prosperity.

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified
False