BUS 404 mid term 2

What is the budget for the Department of Commerce? A. $9.8 Billion B. $10.4 Billion C. $12 Billion D. $14 Billion

A

What is the most accurate average percentage of total U.S. government spending that goes to defense? A. 61% b. 17% c. 80% d. 4%

B

What percentage of the American public, according to a 2016 poll by Voice of the People, are in favor of reducing the annual Department of Defense budget? A. 70% B. 61% C. 85% D. 52%

B

What was Richard Nixon's original purpose for creating the EPA? A. To give him an edge in the election B. To reorganize multiple government agencies into one C. To satisfy environmental advocates that were pressuring him D. To create an agency that raises awareness about the environment

B

Which event in American history directly contributed to the creation of the U.S. Department of Homeland Security? A) Oklahoma City bombing on April 19, 1995 B) September 11, 2001 terrorist attacks C) World Trade Center bombing on February 6, 1993 D) USS Cole bombing on October 12, 2000 E) None of the above

B

Which function of the Treasury was allocated the biggest percent of the budget? a. Management and Financial b. Tax Administration c. Treasury International Programs d. Treasury Forfeiture Fund

B

Which of the following is an effect of the government shutdown on the Department of Treasury? a) 99% of all its department shutdown b) The IRS stop providing service to taxpayers c) Departments it oversees have a free ticket to do as they please d) The shutdown does not affect them

B

How many agencies are within the Department of Commerce? a. 10 b. 11 c. 12 d. 13

C

5. How long does the drug approval process usually take? a. 1 - 4 years b. 3 - 6 years c. 7 - 10 years d. 11 - 14 years

D

According to the values provided by the Department of Defense website, about how much of the federal budget was allocated to the Department of Defense in the 2018 fiscal year? A. 400 billion B. 225 billion C. 1 trillion D. 639 billion

D

Before the Clean Water Act, it was common for: a. Cities to dump sewage into waterways directly with little to no treatment b. Rivers were so toxic they would sometimes catch on fire c. Rivers had a lot of poisoned dead fish d. All of the above

D

Which EPA act directly affects business? A. Clean Power Plan B. Clean Water Act C. Pesticide Ban D. All of the above

D

Which of these is an example of a securities market participant? a. Securities exchanges b. Securities firms c. Clearing agencies d. FinRA e. All of the above

E

what started the fire?

cig on the 8th floor

The triangle fire was the...

deadliest workplace accident in newyork city

T/F: The term length for the SEC Chairman is equal to that of the Presidents

false

Judicial review of agencies

generally don't want to intervene and overrule experts in the field but they will still step in when.. 1. Does the legislature's delegation of authority meet constitutional requirements? 2. Has agency exceeded authority granted by enabling legislation? 3. Are the agency's findings of fact supported by substantial evidence in the record as a whole? 4. Was the agency's decision arbitrary and capricious?

negative externalities

like pollution, gov't must step in to ensure that producer pays full cost of pollution

6. All the following are true about charter schools except for... A. Charter Schools are private institutions funded by public taxes B. Charter Schools can be organized by parents, community members, or groups of business people C. Charter Schools regulations vary from state to state D. According to the ACLU, charter Schools outperform public schools

D

8. A major turning point for the creation of the Department of Education was a. The election of Abraham Ribicoff to senate b. The politicization of the NEA c. The election of President Jimmy Carter d. All of the Above

D

The purpose of the State Department is to: A. Represent the US in international affairs and policy issues B. Protect US citizens who are currently living in other countries C. Provides civilian security and democracy D. All of the above

D

What is Betsy DeVos's view on the Department of Education? A. The Dept of Education was best run under the Obama Administration B. The Dept of Education was best run under the Bush Administration C. The Dept of Education was best run under the Clinton Administration D. Public schools are a "dead end" and the parents should have more choices through charter schools

D

What is the FDA's role in regards to pharmaceuticals? a) The FDA tries to create a revolving door between themselves and pharmacies to ensure individuals know all information about drugs, etc. b) Requiring Medication guides be issued with current prescribed drugs due to the fact that the information will prevent serious side effects. c) Informed practice and education on medicine d) All of the above

D

What role does the FDA play in regards to counterterrorism? a. FDA ensures Medical Countermeasures (MCMs) b. FDA helps protect the United States from chemical, biological, radiological, nuclear and emerging infectious disease threats c. FDA uses the Medical Countermeasures Initiative which is used to create the data necessary to support regulatory decision-making, modernize the legal, regulatory and policy framework. d. All of the Above

D

Which Division assists congress with when to pursue a company for illegal activities? a. Division of Corporate Finance b. Division of Trading and Markets c. Division of Investment Management d. Division of Enforcement e. Division of Economic and Risk Analysis

D

Which are acts that the EPA passed A. Clean Air Act B. Clean Water Act C. Safe Drinking Water Act D. All of the above

D

Which bureau receives the second biggest portion of the budget allocated to the Department of Commerce? A. National Oceanic and Atmospheric Administration B. Economic and Statistical Analysis C. National Institute of Standards and Technology D. Bureau of Census

D

Which of the following inventions was a product of (or inspired by) a defense initiative? a. Drone b. Microwave c. GPS d. All of the above

D

Which of the following is not a bureau of the Treasury? a. IRS b. United States Mint c. Alcohol and Tobacco Tax and Trade Bureau d. Department of Homeland Security

D

Which of the following options is NOT a duty of the Department of State regarding international business? a. To advise business on the local investment climate b. To negotiate trade agreements c. To publish summaries of the competitiveness of industries in foreign countries d. To issue negotiators to businessmen traveling to foreign countries in order to expedite business agreements e. To publish specific laws and regulations regarding certain countries with strict business climates

D

Which of these programs support K-12 students a. IDEA grants b.Title 1 grants c.English Language Acquisition programs d. All of the above

D

T or F: A con of the FDA is that it is rumored that the agency has financial ties to large pharmaceutical companies.

true

T/F The JOBS Act allows individuals to donate money and become investors without necessitating an IPO.

true

T/F, The Department of Treasury is often blamed for economic recessions due to their heavy control over interest rates.

true

true or false The SEC is broken into 5 main divisions

true

wickard v. filburn

1 farmer's production of 23 acres of homegrown and consumed wheat could substantially affect the interstate wheat market by reducing demand for those who did grow it locally, thus local product is thus subject to federal regulation

4. Which of these is a program not run by the Department of Education: a. Rising Standards Excellence Fund b. National Blue Ribbon School Award c. Race to the Top d. 21st Century Community Learning Center

A

7. What was the original name of the Department of State? A Department of Foreign Affairs B Department of U.S. affairs C The Department of State was always named the Department of State D Department of Diplomatic Relations

A

6. Betsy DeVos is a large promoter of A. Public Schools B. Charter Schools C. Religious Schools D. Home Schooling

B

9. Which one of these government programs is ran by the Department of Defense? a. Department of Motor Vehicles b. Veterans Affairs c. Head Start d. Child and Adult Care Food Program

B

Which of the following is not an agency under the Department of Homeland Security? A. United States Coast Guard B. Department of the Interior C. Immigrations and Customs Enforcement D. Transportation Security Administration

B

2 types of agencies

Executive and independent

what were the next two regulatory agencies?

FDA in 1907 and FTC in 1914

(T/F) Multiple studies have shown that the EPA kills jobs and is detrimental to the financial stability of many.

False

True or false: Immigrations and Customs Enforcement (ICE) is an agency within the Department of Homeland Security that is only responsible for investigating matters related to illegal immigration.

False

True/false: the main purpose of the SEC is to control all US business activity.

False

The U.S. Department of Homeland Security is the oldest American federal agency and is one of the largest with close to 240,000 employees.

False (one of youngest)

Brzonkala

Ruled that congress exceed the commerce clause reach by approving portions of the federal Violence Against Women Act which had been allowing women who were victims of gender based violence to sue in federal court, claimed there was an economic impact of violence against women (medical costs, deterring women from jobs etc) but courts said this was not a subs. economic impact on interstate commerce. Brzonkala had been raped by 2 football players but lost the civil suit because of the interstate commerce issue

TARP: trouble asset relief program

Government loaned money to giant banks to prevent the collapse of the American Economy. Free market advocates think TARP subjected marketplace to dangerous moral hazard

Which function of the Treasury was allocated the biggest percent of the budget? a. Management and Financial b. Tax Administration c. Treasury International Programs d. Treasury Forfeiture Fund

b

Who is Wilbur Ross in the Department of Commerce? a. President b. Secretary c. Chief of Staff d. Treasurer

b

What happened as a result of the triangle fire?

factory safety commission established in NY. Spurred the passage of 30 new laws addressing many issues. NY became a model

(True/False) The Trump administration plans to increase funding to the Environmental Protection Agency.

false

T/F, During the government shutdown, the IRS provides services to taxpayers. a. True b. False

false

The United States Department of State was founded in 1829.

false

The current Secretary of State is Wes Tillerson

false

True or False - We have accomplished the Clean Water Act, by making every river, stream, and lake in the U.S. swimmable and fishable. Answer: False

false

True or False: President Theodore Roosevelt did not separate the Department of Commerce and Labor into two separate departments because the combined agency worked efficiently together as one.

false

True or False: The 22 agencies that merged to create the Department of Homeland Security included 6 main divisions

false

True or False: The DHS and the TSA are separate, unrelated government agencies.

false

supremacy cause

federal law will preempt (supersede) state or local law, rendering it unconstitutional. State rules benefit from being enacted by bodies in close proximity to affected people, but uniform law is needed for optimal efficiency, esp in biz

why was the triangle factory such a stressful environment?

foreman were always watching, not allowed to stop, cut up your hands and charged for own mistakes

what are the two avenues a rule can be made

formal and informal. Both begin with notice of proposed rule making in the federal register, if informal must permit comments and hearing, online portal permits easy commenting. If formal, agency must hold a public hearing with most of the procedural safeguards of a normal hearing

What are states involved in regulating?

insurance, banking, securities, liquor sales, licenses for business/professions, public utilities

What is the main purpose of the Department of Commerce? a. Decrease inflation b. Print money c. Promote economic growth D. Trade with international countries

c

executive agencies

cabinet level (defense, education, energy) and the smaller units within

obamacare and the commerce clause

called into question the "individual mandate" requirement forcing Americans to get insurance, challenged that you cannot regulate inactivity, this would be too expansive. However, obamacare was still const. bc individual mandate was determined to be a tax

Legislative functions

create rules that are basically laws, provide details needed for carrying out intentions of enabling legislation

executive functions

duty to protect public by ensuring compliance with laws and regs. Time spent doing inspections, investigations, collecting info. Lease fed lands, register security offerings, grants, etc

Choose the best answer) The Environmental Protection Agency... a) Protects human health and the environment b) Studies environmental issues c) Is experiencing budget cuts under the Trump administration d) Only A and B are correct e) All of the above are correct

e

bursts of administrative agencies

after great depression and in the 60s and 70s for social concerns. Early agencies had economic goals while later ones had social reform goals.

an agency is

any government unit other than the legislature and the courts

TRUE or FALSE: Between 1971 and 2017 the EPA's budget has been upward trending, meaning the budget has steadily increased over the years. However, recently there has been a recent decline in budget.

true

The SECs main objective is to protect the investor and facilitate efficient markets.(T/F)

true

The United States Department of State was originally called the Department of Foreign Affairs

true

True or False. The U.S. Census is used to allocate $400 billion of federal funds.

true

True or False: Republicans are huge critics of the Census because they believe it is unconstitutional.

true

True or False: The FDA is enforcing that all restaurants that have chains of 20 or more restaurants to label the nutrition facts on their menus.

true

True or False: Your food is legally allowed to contain a small amount maggots, insect eggs, or rodent hairs.

true

True or false: The Division of Economic and Risk Analysis supports all other SEC Divisions and offices.

true

True/ False The Fiscal Year 2018 budget for the EPA was slashed by $2.5 billion from 2017 budget?

true

Lopez

used commerce clause to enact the Gun-Free School Zone Act forbidding individuals from having guns in school zones, stating that gun possession in school zones would increase violence, retard learning, discourage travel and affect commerce . When a kid was charged with violating the act he brought it to the supreme court who agreed that congress did not have constitutional authority to regulate this matter, no economic activity was effecting interstate commerce

Voyeur Dorm v. City of Tampa

voyeur dorm: internet based website 24 hour transmission of women living in a house -issue was whether district court properly determined that alleged activities constituted as adult entertainment and thus were not allowed in the residential neighborhood per the zoning regs -Tampa argued that it is an adult biz, in a rez neighborhood and that code does not limit applicability just because entertainment not consumed there -Voyeur dorm argued that it is not an adult use business and that zoning applies to where adult entertainment is offered to the public, but the public cannot attend this place, it attends no entertainment, the internet does -the decision was reversed, zoning regs did not apply

what justifies government intervention

when economy fails to serve public interests, i.e market failure

grey areas with federal and state jurisdiction

whether or not it is intra or interstate, some policing power delegated to states, etc

administrative law governing agencies addresses

whole executive branch

what if a state tries to do something to limit interstate commerce?

will be struck down by the federal government on commerce clause grounds

the city wide strike was the...

largest in NY history, resulted in unionized shops...except for triangle workers

some argue that Dodd-Frank

limits economic growth

why did the fire end up being so deadly?

nobody alerted the sewing machine operators on the 9th floor, letters weren't high enough

what happened to the owners of the triangle factory?

nothing, acquitted, couldn't prove that they knew the fire exit was locked during fires

positive externalities

or spillover, normally gov't doesn't feel the need to regulate this

soft interventions

preserve freedom while nudging government in desirable direction

what is the first amendment issues with the FCC

preventing free flow of ideas and creativity ?

what are the three roles of operating agencies

quasi exec, quasi legislative, quasi judiciary

in the 80s...

reagan pushed for dereg

What did the AFL leader think about factory workers banding together to rebel and demand fair treatment in a city-wide strike?

said it was a bad idea

what was produced in the triangle factory

shirtwaists

rule making v adjudication

standards to be applied to future conduct of a class of unspecified parties vs addresses specific parties involved in specific past or present dispute

What about states regulations of business?

state authority to regulate and promote public health, safety and general welfare by regulating people and property within each state's jurisdiction, given some police power, but hard because few things are purely intrastate biz

safe harbor

10 pm to 6 am

Granholm V. Heald

-Central question was a conflict of requirements of the commerce clause vs. 21st amendment that ended prohibition period and gave states broad authority to regulate alc -Michigan and NY regulated sale and importation of alc via a 3 tier system for out of staters, but allowed in state wineries to sell directly to consumers -Many small wineries depended on being able to sell directly to consumers to make money -can't have differential treatment for in state and out of state economic interests that benefit the in-state -determined discrimination too obvious to be saved by the 21st amendment -Michigan and NY tried to argue that it was justified for tax collection purposes and for preventing underage drinking, neither substantial

independent agencies

-FTC, FCC, SEC, created via statutes labeled "enabling legislation" which gave the agencies substantial authority -Created to operate with less interference -Congress acknowledging that there is a problem and that they are not the right body to deal with it -Senate/prez appoints admin/commissioners for 7 years -essentially created mini gov't with day to day authority to handle issues they don't have expertise in

Heart of Atlanta Motel v US

-Issue was whether congress can use the commerce clause to open public accommodations to all people -Motel didn't want to let african american people to stay there, and argued that congress did not have the authority to pass the civil rights act, that this exceeded its power to regulate commerce -The US won because there is an effect of travel and such on interstate commerce due to discrimination, it is disruptive. -Questions at hand were whether racial discrimination affects interstate commerce and whether means to eliminate the evil are reasonable, which were affirmed

what happens in administrative hearings

-affected parties notified after violations -effort to reach settlement via consent order, where party being investigated agrees to take specific step but doesn't admit guilt -admin law judge hears cases similar to in a civil suit but there is no jury and instead they issue a decision (order) that is final unless appealed

Casses of FCC v Fox tv stations and FCC v ABC

-charged for violations of indecency due to fleeting nudity and expletives, but overruled bc arbitrary and capricious -3 standards for indecency: explicitness or graphic nature of sexual act, dwelled on and related, presented for shock value, pander, etc -fleeting expletives/nudity did not meet minimum standards for indecency -also violated due process, were not informed that these things would be violations and the forbidden conduct was too vague

how are agencies constrained by the congressional branch

-congress creates and dissolves agencies and controls their budget -congress can influence agencies to take certain directives with their budget and by passing laws

Dodd-Frank

-prevent financial collapse of giant banks and businesses -15 member financial stability oversight council -larger capital holdings so its less risky lending -create/update living wills for quick and orderly shut downs -rules to ensure borrowers have necessary funds

how are agencies controlled by the executive branch

-prez appoints top admin and influences budget -recent presidents have required cost-benefit analysis for new rules and make agencies cite a specific market failure before issuing new rules

Net neutrality

-should internet service providers (ISPs) treat all legal data the same? -Blocking-where sips block access to lawful content/services -Throttling-deliberately slowing down access to content -paid prioritization-fast lanes -Determined that the internet is a public utility

when commerce is clearly interstate and has federal jurisdiction that a state or local reg tries to control, what two factors come into question?

1. Does it discriminate against interstate commerce 2. Does it unduly burden interstate commerce such that the burden imposed clearly exceeds the local benefits

three ideas for why we have regulations

1. Necessary for protection and general welfare of the public 2. Idea that it is developed at the request of the industry and at the benefit of it. Some companies may request it so that competitors can't engage in bad activities and maybe orig. for public good but then industry got a hold of it 3. bureaucrats themselves

what are the three types of rules agencies create?

1. Procedural rules which delineate agency's internal ops structure and methods 2. Interpretive rules offer agency's view of the meaning of statutes that they have administrative responsibility for, like the IRS 3. Legislative rules, policy expressions that take the effect of law

What are the three categories of agency authority

1. control of supply (FCC with radio/tv licenses, FDA for drugs, SEC by preventing securities until certain standards met) 2. control of rates (historically, not really anymore) 3. control of conduct (information, standards, product banishments)

what are the three arguments about "too much government"

1. excessive gov't: regs reduce biz efficiency, kill jobs, discourage innovation, impose high compliance costs, curb freedom, expand gov't and taxes, small businesses sink under all the regs 2. Insufficient reg: many wins of gov't regs, greatly helps with ease of doing businesses 3. Ineffective reg: duplication of tasks, 80 programs to address economic development

Joseph Tomain's regulatory lifecycle

1. free market i.e no reg. 2. market failure identified suggesting need for regulation 3. gov't regulation imposed in form of a rule 4. Regulation failure because it is believed that benefits no longer outweigh the costs of the regulation 5. Regulation reform to correct failure 6. Regulation eliminated return to step 1

4 imperfections in the market

1. imperfect information (improve info or inadequate information, so we can act with bounded rationality) 2. Monopoly (prevent anticompetitive behavior so that it is efficient and fair) 3. Externalities (all costs/benefits not absorbed by producer/consumer fall elsewhere) 4. Public Goods, some things can't be provided via normal pricing system because there is noway to exclude people who don't pay, so if gov't doesn't provide it we wouldn't have enough

how many killed

145 via jumping/falling, in the elevator, in the fire escape, burned to death

The Department of Labor and the Department of Commerce were a joined Department until what year?

1913

what year will the next US census take place?

2020

Where is the constitutional foundation for Fedearl business regulation?

Article 1 section 8 i.e commerce clause, gives federal gov't to regulate business with foreign nations, among several states, and with Indian Tribes

Despite 130 bills written during 1908 to 1975 no Department of Education was created. The delay in the creation of the Department was fueled primarily by : a. Democrats believing the Department of Education was unconstitutional because education wasn't specifically mentioned in the constitution. b. Democrats believing department was unessential and an illegal bureaucratic intrusion into local and state affairs. c. The American Federation of Teachers and Republican Party heavily opposed the establishment of the Department of Education because they believed the department was unconstitutional because education wasn't specifically mentioned in the constitution. d. Republican believing department was unconstitutional funding from the Commerce Clause.

C

How long do drug approvals take from the FDA for drug companies? a. 1-2 months b. 5 years c. 10-15 years (answer) d. A week

C

In the first quarter after the introduction of TSA inspections in 2002, how much money did the airline industry lose due to discouraged passengers? a. $1.1 million b. $11 million c. $1.1 billion d. $1.1 trillion

C

Initially the EPA's authority was limited because few strong federal environmental laws existed. Which act was passed in 1970 that granted the EPA more authority and gave them significant new powers to establish and enforce standards to regulate polluters? A. Clean Power Plan B. Clean Water Act C. Clean Air Act D. Federal Water Quality Administration

C

What is the difference between the primary goals of the Department of Education under Arne Duncan (under Obama) vs Betsy DeVos (under Trump)? a. Duncan focused on expanding arts programs while DeVos focused on STEM programs b. Duncan promoted accepting international students while DeVos discouraged it c. Duncan wanted to raise nationwide education standards while DeVos was in favor of more options for schools d. Duncan believed secondary (college and beyond) education was unnecessary while DeVos believed every citizen is entitled to a college degree

C

Which is something that the FDA does not regulate? a. Medical devices b. Products that give off radiation c. Vitamins d. Cosmetics

C

Which of the following is a potential flaw of the FDA? a) The FDA works too quickly through their approval process b) The FDA's public statements are usually ignored by society c) The FDA is rumored to have unethical financial ties to larger pharmaceutical companies d) The FDA does not regulate cosmetics

C

Which of the following is not apart of the rulemaking process? a. Concept Release b. Rule Adoption c. Government Consultation d. Rule Proposal

C

Who is the principal defense advisor to the president and the formulation of general defense policy for the Department of Defense? A. Chairman of the Joint Chiefs of Staff B. U.S. Central Forces Commander C. U.S. Secretary of Defense D. U.S. Military Advisor

C

Who was NOT a secretary of the Department of Homeland Security? a. Janet Napolitano b. Tom Ridge c. Ash Carter d. Michael Chertoff

C. Ash carter

Gonzalez v Raich

Ca decriminalized medical weed use but CSA, controlled substance act (fed level) made weed illegal. raich challenged the CSA action of regulating personal medical weed use but lost because fed gov't argued they have jurisdiction because of the commerce clause. Interstate illegal weed use is affected by personal consumption. Concerns about this decision greatly expanding gov't reach

what was the first regulatory agency?

Interstate Commerce Commission regulating railroud routes and rates in 1887

Who is the current Secretary of Defense? A. Jim Mattis B. Colin Powell C. Hillary Clinton D. Dwight D. Eisenhower

Jim Mattis

Board Diversity Disclosure, Pay Ratio Disclosure, and Jumpstart Our Business Startups are all products of the SEC. (T/F)

T

(T/F) Boeing has one of the largest private defense contractor at $897.5 million

True

(True/False) The Department of Treasury excise tax functions and regulations for the Alcohol and Tobacco Tax and Trade Bureau?

True

One of the goals of the FDA is to reduce the use of tobacco amongst minors. a. True b. False

True

The DOD is the nation's largest employer (T/F)

True

The Department of Defense our nation's oldest and largest government agency? (T/F)

True

The Department of State was the first executive department established

True

True or False: The FDA drug approval process from research to actual selling and distribution often takes 10+ years

True

True/ False: The division of Enforcement uses injunctions, which are orders that prohibit future violations.

True

According to the Organization for Economic Cooperation and Development, the US: a. Showed a negative relationship between funding spent and student's comparative math scores b. Ranked in the bottom 30% of member nations for comparative math scores c. Showed improvement in comparative math scores when decreasing funding d. All of the above

b