This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Entrepreneurship Chapter 6 Government Policies And Support To Entrepreneurship – Quiz 14 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Entrepreneurship Chapter 6 Government Policies And Support To Entrepreneurship Quiz 14 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. All of the following would slow the economy down, EXCEPT ..... A) Reducing Government Spending. B) Decrease Taxes. C) Drive up inflation. D) Sell Government Bonds through the Open Market Operations. Show Answer Correct Answer: D) Sell Government Bonds through the Open Market Operations. 2. What did Patent bring to the country? A) Material things. B) Justice. C) Profit. D) Federal Courts. Show Answer Correct Answer: C) Profit. 3. Labor Force A) A person who is working part-time but wants full time employment. B) The total number of adults who are either employed OR unemployed. C) The number of adults who are currently working either full or part time. D) The number of adults who are not working but are actively seeking work. Show Answer Correct Answer: B) The total number of adults who are either employed OR unemployed. 4. What is the subject of the Federal Open Market Committee decisions? A) Scheduling of banking days and hours of member banks. B) Chartering of new banks and other lending institutions. C) Appointment of members of the Federal Reserve Board of Governors. D) The buying and selling of bonds to affect the money supply. Show Answer Correct Answer: D) The buying and selling of bonds to affect the money supply. 5. Market Basket A) Money that a lender charges in order to borrow money. B) A nation's central bank, responsible for implementing monetary policy. C) Collection of goods and services whose prices are examined and compared to earlier years. D) Measuring device used to determine changes in price levels. Show Answer Correct Answer: C) Collection of goods and services whose prices are examined and compared to earlier years. 6. Lying under oath A) Perjury. B) Contempt. C) Immunity. D) Subpoena. Show Answer Correct Answer: A) Perjury. 7. How are monetary policy and fiscal policy similar? A) They are both done by the President. B) They are both done by the Fed. C) They are both used to keep the economy stable. D) They both use four tools. Show Answer Correct Answer: C) They are both used to keep the economy stable. 8. What is the primary goal of the "Startup India" initiative? A) To promote traditional businesses. B) To create a favorable environment for startups. C) To restrict foreign investments. D) To increase tax rates for small businesses. Show Answer Correct Answer: B) To create a favorable environment for startups. 9. What do lobbyists try to do? A) Help Congress in writing legislation for the common good. B) Ensure the federal budget balances. C) Help the President to choose Supreme Court justices and Cabinet members. D) Influence the decisions made by government officials. Show Answer Correct Answer: D) Influence the decisions made by government officials. 10. What is the primary purpose of taxation policies implemented by the government? A) To fund private sector initiatives. B) To regulate the stock market. C) To finance public services and infrastructure. D) To support international trade. Show Answer Correct Answer: C) To finance public services and infrastructure. 11. What does a market outcome refer to? A) The government's intervention in a market. B) The pricing strategy of sellers in a market. C) The regulation of competition in a market. D) The result of interactions between buyers and sellers in a market. Show Answer Correct Answer: D) The result of interactions between buyers and sellers in a market. 12. What is one reason the passage suggests for government intervention in the economy? A) To increase market competition. B) To reduce the efficiency of market outcomes. C) To address disparities in economic well-being. D) To promote inequality among citizens. Show Answer Correct Answer: C) To address disparities in economic well-being. 13. What is the aim of the "BharatNet" project under Digital India? A) To provide free laptops to students. B) To connect rural areas with high-speed internet. C) To promote digital payments. D) To build more roads. Show Answer Correct Answer: B) To connect rural areas with high-speed internet. 14. The Federal Reserve Bank is responsible for ..... A) Collecting Taxes. B) Managing the National Debt. C) Regulating Health Care. D) Regulating Monetary Policy. Show Answer Correct Answer: D) Regulating Monetary Policy. 15. Government's role in private school regulation A) Regulating all private schools to ensure they meet government standards. B) Providing funding for private schools. C) Allowing private schools to operate without any oversight. D) Promoting private schools over public schools. Show Answer Correct Answer: A) Regulating all private schools to ensure they meet government standards. 16. Which government policy provides financial assistance to unemployed individuals? A) Interest rates. B) Unemployment insurance. C) Tariff laws. D) Right to work laws. Show Answer Correct Answer: B) Unemployment insurance. 17. According to the passage, why does the world's best basketball player earn more than the world's best chess player? A) Because basketball is more popular than chess. B) Because the government intervenes to ensure fair wages. C) Because chess players are less skilled than basketball players. D) Because the invisible hand rewards people based on their ability to produce valuable goods. Show Answer Correct Answer: D) Because the invisible hand rewards people based on their ability to produce valuable goods. 18. Under the Startup India initiative, what is the maximum period for which a startup can be exempt from income tax? A) 3 years. B) 5 years. C) 7 years. D) 10 years. Show Answer Correct Answer: B) 5 years. 19. Primary goal of government welfare programs A) To provide financial assistance to individuals and families in need. B) To reduce taxes for the wealthy. C) To promote economic growth through deregulation. D) To increase government surveillance of citizens. Show Answer Correct Answer: A) To provide financial assistance to individuals and families in need. 20. A student argues that federalism is important for protecting against authoritarianism. Use reasoning and evidence to support this argument. A) Because dividing power between local and national governments makes it harder for one person or group to control everything. B) Because federalism eliminates local governments. C) Because unitary systems concentrate power in one place. D) Because federalism allows local governments to ignore national laws. Show Answer Correct Answer: A) Because dividing power between local and national governments makes it harder for one person or group to control everything. 21. Contractionary Policy A) When the government seeks to slow the economy by limiting the money supply. B) When the government seeks to boost the economy by increasing the money supply. C) Difference between spending and revenue each year. D) A plan for money the government will spend. Show Answer Correct Answer: A) When the government seeks to slow the economy by limiting the money supply. 22. Which of the following sectors is explicitly encouraged by Startup India? A) Agriculture. B) Manufacturing. C) Technology. D) All of the above. Show Answer Correct Answer: D) All of the above. 23. If Congress increases government spending by the same amount it increases taxes aggregate demand will A) Remain the same. B) Decrease, these are both contractionary. C) Increase. D) Shift down. Show Answer Correct Answer: C) Increase. 24. Which of the following schemes supports the marketing of products made by MSMEs? A) Prime Minister's Employment Generation Programme (PMEGP). B) Micro and Small Enterprises-Cluster Development Programme (MSE-CDP). C) Digital India. D) Startup India. Show Answer Correct Answer: B) Micro and Small Enterprises-Cluster Development Programme (MSE-CDP). 25. What is one of the federal reserve's primary functions in the United States economy? A) Collecting federal income taxes. B) Applying import and export tariffs. C) Maintaining stock market stability. D) Regulating the nation's money supply. Show Answer Correct Answer: D) Regulating the nation's money supply. ← PreviousNext →Related QuizzesClass 12 Entrepreneurship Chapter 6 Government Policies And Support To Entrepreneurship Quiz 1Class 12 Entrepreneurship Chapter 6 Government Policies And Support To Entrepreneurship Quiz 2Class 12 Entrepreneurship Chapter 6 Government Policies And Support To Entrepreneurship Quiz 3Class 12 Entrepreneurship Chapter 6 Government Policies And Support To Entrepreneurship Quiz 4Class 12 Entrepreneurship Chapter 6 Government Policies And Support To Entrepreneurship Quiz 5Class 12 Entrepreneurship Chapter 6 Government Policies And Support To Entrepreneurship Quiz 6Class 12 Entrepreneurship Chapter 6 Government Policies And Support To Entrepreneurship Quiz 7Class 12 Entrepreneurship Chapter 6 Government Policies And Support To Entrepreneurship Quiz 8Class 12 Entrepreneurship Chapter 6 Government Policies And Support To Entrepreneurship Quiz 9Class 12 Entrepreneurship Chapter 6 Government Policies And Support To Entrepreneurship Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books