This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Entrepreneurship Chapter 6 Government Policies And Support To Entrepreneurship – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Entrepreneurship Chapter 6 Government Policies And Support To Entrepreneurship Quiz 1 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Why did the government take mixed race Aboriginal children from their families? A) Government thought these children could be absorbed into the wider white population. B) Government thought these children could be better used as servants. C) Government thought their parents could not look after them. D) Government thought these children could be absorbed into the wider black population. Show Answer Correct Answer: A) Government thought these children could be absorbed into the wider white population. 2. In 2015, 70000 extra people lost their jobs but total employment rose by 75 000. What could explain this? A Some people may have emigrated. B Some people may have gone back to education. C Some people may have re-entered the labour force. D Some people may have retired early. A) A. B) B. C) C. D) D. Show Answer Correct Answer: C) C. 3. The Government has increased revenues by charging extra fees for consumption of gasoline A) Tax Policy. B) Spending Policy. C) All the above. D) None of the above. Show Answer Correct Answer: A) Tax Policy. 4. Which of the following is not a principle of taxation A) Equity. B) Flexibility. C) Certainty. D) Divisible. Show Answer Correct Answer: D) Divisible. 5. A country with a government-controlled economy wants to increase innovation. Use reasoning to analyze how a free market system could encourage innovation. A) By allowing competition and rewarding new ideas, which motivates people to create better products. B) By limiting private ownership and entrepreneurship. C) By increasing government control over all businesses. D) By reducing the number of available goods and services. Show Answer Correct Answer: A) By allowing competition and rewarding new ideas, which motivates people to create better products. 6. These are taxes on the purchases of goods or services. A) Estate Tax. B) Income Tax. C) Payroll Tax. D) Sales Tax. Show Answer Correct Answer: D) Sales Tax. 7. What is the purpose of the Texas Constitution? A) To outline the structure of government. B) To guarantee certain rights and liberties. C) To reflect the values and priorities of citizens. D) All of the above. Show Answer Correct Answer: D) All of the above. 8. Which of the following is a major focus of the "Make in India" initiative? A) Increasing imports. B) Encouraging manufacturing and attracting foreign investment. C) Promoting only the service sector. D) Limiting industrial growth. Show Answer Correct Answer: B) Encouraging manufacturing and attracting foreign investment. 9. FICA Tax A) Amount of money the government spends per year. B) Percentage of adults that are actually in the labor force. C) A plan for money the government will spend. D) Tax that funds Social Security and Medicare. Show Answer Correct Answer: D) Tax that funds Social Security and Medicare. 10. Government's role in wealth redistribution A) Establishing wealth redistribution between states. B) Increasing taxes on the wealthy. C) Reducing government spending. D) Promoting free market policies. Show Answer Correct Answer: A) Establishing wealth redistribution between states. 11. Instead of cleaning their own homes, a large number of households decide to clean each other's homes and charge for their services. They all declare their income to the tax authority. What will increase as a result of this?A Gross Domestic ProductB importsC investmentD unemployment A) A. B) B. C) C. D) D. Show Answer Correct Answer: A) A. 12. Fill in the blank. The Federal government uses fiscal policies to maintain economic stability, including making changes to taxes and government spending. The government can try to stimulate economic growth by ..... or ..... A) Increase government spending, increase taxes. B) Increase government spending, decrease taxes. C) Decrease government spending, increase taxes. D) Decrease government spending, decrease taxes. Show Answer Correct Answer: B) Increase government spending, decrease taxes. 13. In a free market system, what role does self-interest primarily play according to Adam Smith? A) It requires strict oversight by regulators. B) It disrupts trade and reduces innovation. C) It guides choices that increase overall prosperity. D) It guarantees equal outcomes for every citizen. Show Answer Correct Answer: C) It guides choices that increase overall prosperity. 14. Public health program example A) Smoking danger education. B) Healthy eating workshops. C) Exercise promotion campaigns. D) Water quality testing. Show Answer Correct Answer: A) Smoking danger education. 15. A legal order that a person appear or produce requested documents A) Subpoena. B) Immunity. C) Contempt. D) Scheme. Show Answer Correct Answer: A) Subpoena. 16. Why did Marx describe religion as the 'opium of the people'? A) It replaced private property with shared goods. B) It gave false hope that dulled class struggle. C) It inspired revolutions against factory owners. D) It funded public schools for urban workers. Show Answer Correct Answer: B) It gave false hope that dulled class struggle. 17. What do authoritarian governments prioritize above all else? A) Promoting free speech. B) Ensuring economic equality. C) Preserving their power. D) Free and fair elections. Show Answer Correct Answer: C) Preserving their power. 18. What is the purpose of fiscal policy? A) To regulate the supply of money in the economy. B) To achieve economic growth, full employment, and price stability. C) To enforce voluntary contracts. D) To protect people's right to own property. Show Answer Correct Answer: B) To achieve economic growth, full employment, and price stability. 19. If the federal government uses an expansionary fiscal policy, it will lead to ..... in the short run and ..... in the long run. A) Preventing inflation, a contraction. B) Preventing inflation, an expansion. C) Decreasing spending, inflation. D) Increasing spending, inflation. Show Answer Correct Answer: D) Increasing spending, inflation. 20. Example of the government's role in providing public goods A) The government investing in public schools. B) The government reducing taxes for businesses. C) The government privatizing healthcare services. D) The government increasing military spending. Show Answer Correct Answer: A) The government investing in public schools. 21. What do public policy decisions in Texas influence? A) Daily lives of citizens. B) International relations. C) Private businesses. D) Foreign policies. Show Answer Correct Answer: A) Daily lives of citizens. 22. Which program under Startup India aims to promote innovation in startups? A) Startup India Seed Fund Scheme. B) Startup India Showcase. C) Startup India Digital Platform. D) Startup India Accelerator Program. Show Answer Correct Answer: A) Startup India Seed Fund Scheme. 23. Who would a citizen contact about a problem with city roads? A) The county commissioner. B) The president. C) The governor. D) The mayor. Show Answer Correct Answer: D) The mayor. 24. Governments also should be aware about the time it takes for their actions to be in place, this is call the ..... A) Implementation lag. B) Budget lag. C) Unemployment lag. D) Time lag. E) Reaction lag. Show Answer Correct Answer: A) Implementation lag. 25. Which combination of fiscal and monetary policy would speed up the economy? A) Increase taxes; decrease reserve requirement. B) Decrease taxes; decrease discount rate. C) Increase spending; increase interest on reserves. D) Decrease spending; sell bonds via open market operations. Show Answer Correct Answer: B) Decrease taxes; decrease discount rate. 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