Explain what an import restriction is. Give examples of policies that would have the effect of restricting imports and explain how they work to accomplish that.
What will be an ideal response?
Students' answers may vary.
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Which of the following could be considered an example of "corporate welfare"?
a. shifting AFDC to TANF b. providing homeowners relief from foreclosure c. bailing out banks during the recent economic crisis d. providing supplemental security income
Edmund Burke's belief that government should not attempt to change society, but that government should merely reflect changes that have already taken place in society helped shape this theoretical movement
a. Classical liberalism b. Modern liberalism c. Marxism d. Traditional conservatism e. Feminism
The 2008 U.S. financial bailouts were met with public opposition despite the fact that they staved off a depression and were being repaid. This illustrates that __________
a. opinion polls have no impact on government decisions b. elected officials often misunderstand what opinion polls show c. mass opinion should play a greater role in economic policy making d. the public is often swayed by emotional rather than rational considerations
A U.S. senator's term lasts
a. 2 years b. 4 years c. 6 years d. 8 years