Social Responsibility Ch 7
The Mullahs in Iran is an example of the power of government derived from:
A religious authority.
Antitrust laws protect consumers from
Anticompetitive practices by business.
Government's role is to create and enforce laws that:
Balance the relationship between business and society.
The antitrust enforcement agencies in the United States have the legal authority to
Block anticompetitive mergers in the U.S.
Managers' understanding of government regulations is:
Both a domestic and international issue
By raising and lowering the interest rates at which private banks borrow money from the government, the Federal Reserve Bank
Both of these answers are correct: Influences the size of the nation's money supply; and influences the value of the dollar
Which of the following represents a structural remedy for an antitrust violation?
Breaking up a monopoly
Past decisions of the courts, the original basis for the U.S. legal system, are called
Common laws
When a government orders companies not to conduct business in another country because of a war, human rights violations, or lack of a legitimate government; these orders are called
Economic sanctions.
Public policy tools involve a combination of
Incentives and penalties
Reregulation is:
The increase or expansion of government regulation.
Regulation can be argued as justified based on
Utilitarian and justice grounds.
Economists reported that the costs of regulatory compliance were highest for:
Worker safety.
Which of the following are examples of natural monopolies?
Electric utilities and railroads.
An example of a regulatory agency charged with enforcing social regulation is:
Federal Trade Comission
Patterns of government taxing and spending that are intended to stimulate or support the economy are:
Fiscal policies.
Governments being asked to regulate driving distractions are examples of a public policy:
Input.
When the market fails to adjust for the full costs of a firm's behavior, this is called:
Market failure
Policies that affect the supply, demand, and value of a nation's currency are:
Monetary Policies
An example of an economic regulatory agency is
National Labor Relations Board.
Government regulations help balance negative externalities such as:
No smoking rules enforced to mitigate the effects of second-hand smoke.
Economic regulations are illustrated by which action?
Preventing anticompetitive business practices.
The primary way of accomplishing public policy is through
Regulation.
In the case Should Facebook be Regulated, the primary market failure was
Sales incentives to sell user data exceeded those of protecting user privacy.
Total social regulation costs are
Significantly higher than total economic regulation costs
Around the world, government:
Sometimes cooperates and sometimes is in conflict with business.
An example of a global regulation that mitigates the impact of jet fuel on the environment is:
The Aviation Plan
Cooperation between business and government often occurs when
They encounter a common problem or enemy.
European Union regulators accused Uber of engaging in:
Unfair competition.
