Economic Public Policies Quiz

The distribution of responsibilities for tourism development in Spain is a layered process involving the national government, regional governments (CC.AA.), and local administrations.

National goals, regional priorities, and local interests are all considered when developing tourism policies. Each level of government helps ensure that tourism aligns with these different needs.

The European Union promotes a single market that enables goods, services, capital, and people to move freely between member states.

The free movement of goods ensures that goods can flow freely between EU member states without tariffs or unreasonable restrictions.

The free movement of capital allows for investment and financial market activities to operate seamlessly across EU member states.

EU competition law aims to prevent unfair competition such as monopolies and predatory pricing, ensuring that markets remain fair and open.

Article 34 of the Treaty on the Functioning of the European Union (TFEU) explicitly prevents any action by member states that would restrict imports from other member states.

By removing restrictions on capital transfers, Article 63 of the Treaty on the Functioning of the European Union (TFEU) promotes cross-border investment and the development of a unified financial market.

Businesses holding a dominant position in the market cannot exploit their power to harm competitors or consumers.

The ability of individuals to seek employment in any EU country without being discriminated against based on nationality.

Illegal agreements between businesses to fix wages or prevent hiring from each other, distorting the labor market.

The right for businesses to offer services and establish operations in any EU country without facing discrimination.

Practices like predatory pricing (selling below cost) and exclusive agreements that restrict competition.

The European body responsible for enforcing competition rules and punishing companies breaking them.

An internal market where goods, services, people, and capital can move freely, fostering competition and growth.

The principle that individuals and companies can freely acquire and possess property.

The guarantee that individuals are free to establish and operate businesses.

The economic system where markets allocate resources and prices are determined by supply and demand.

The process of transitioning from government control to private ownership and market forces.

The ability of the government to manage and spend public funds.

The principle that the government can limit the right to property in certain situations for the benefit of society.

The balance achieved in the Spanish Constitution between individual ownership rights and the needs of society.

Economic policies implemented by governments to influence and regulate economic activity.

The study of the overall economy, focusing on large-scale issues like national income, inflation, and unemployment.

The study of individual markets and economic agents, focusing on decision-making of consumers and businesses.

A deviation from an ideal market where supply and demand interact efficiently.

Using government spending and taxation to influence aggregate demand and economic activity.

Regulating the money supply and interest rates to impact economic activity.

Management of public finances to ensure economic stability.

The use of laws, standards, and regulations to govern market activity.

The natural fluctuations in economic activity that occur over a period of time, driven by various factors like technological advancements, investment cycles, and temporary shocks.

Long economic cycles lasting 40-50 years, usually associated with significant technological shifts, like the invention of the internet or the rise of computers.

Medium length cycles between 5-10 years, reflecting fluctuations in investment and consumer spending.

Short-term fluctuations in economic activity caused by temporary events or changes in market conditions, like a sudden price increase or a natural disaster.

A general increase in prices across the economy, eroding the purchasing power of money.

The efficiency of production, measured as the output per unit of input, which is crucial for long-term economic growth.

The difference between a country's exports and imports, reflecting its trade balance with the rest of the world.

The record of all financial transactions between a country and the rest of the world, encompassing trade, investment, and financial flows.

Economic rights must be balanced with social considerations, ensuring property use aligns with the public interest. This means finding a point where individual freedoms don't harm the common good.

The right to engage in business and profit is protected through regulations that ensure fair competition and prevent monopolies.

Involving citizens in shaping economic policies ensures that these policies reflect the needs and aspirations of the population.

Government intervention in the economy aims to address market imperfections, promote stability, and achieve sustainable development.

Public authorities use fiscal, monetary, and regulatory measures to balance economic growth, equity, and environmental sustainability.

Government involvement in the tourism sector is crucial to foster innovation and ensure long-term competitiveness.

Governments began recognizing the economic potential of tourism in the early 20th century, driving the development and regulation of the industry.

The National Commission for the Promotion of Artistic and Recreational Excursions for Foreign Visitors, established in 1905, marked a significant milestone in Spanish tourism development.