Governmental Regulation & Deregulation of the Economy

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What economic problem occurred in 2008 that led to the passage of the Dodd-Frank Act?

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1. How did increased regulation impact the mortgage market after 2008?

2. What theory seeks to explain that individuals who act in their own self-interest might deplete a common resource important to a whole group of people?

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About This Quiz & Worksheet

Use this worksheet and quiz to assess your understanding of the purposes of government economic regulation as well as the process of deregulation.

Quiz & Worksheet Goals

This quiz and worksheet can help you review:

  • The role increased regulation had in the mortgage market
  • The allegory that explains the need for regulation
  • Why a government would grant a monopoly
  • The function of economic regulators

Skills Practiced

  • Information recall - access the knowledge you have gained regarding why government regulation is necessary
  • Knowledge application - use your knowledge to answer questions about why governments would grant a monopoly
  • Critical thinking - apply relevant concepts to examine information about regulation in a different light

Additional Learning

To learn more about economic regulation by the government, check out the lesson called Governmental Regulation & Deregulation of the Economy. This lesson covers the following objectives:

  • Understand the importance of regulation
  • Review the theory of Tragedy of the Commons
  • Determine why deregulation is used
  • Examine the impact of economic regulation by the government
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