CSCI 1953 Ethics Test 4

The antitrust enforcement agencies in the United States have the legal authority to

Block anti-competitive mergers in the United States

A structural remedy for an antitrust violation includes

Breaking up a monopolistic organization

an example of a regulatory agency charged with enforcing social regulation is the

Federal trade commission

which entity enforces rules to balance the relationship between business and society

Government

and example of an economic regulatory agency is the

National labor relations board

One concern of critics of regulation is

The high cost to small and manufacturing businesses

Reregulation is

The increase or expansion of government regulation

by raising and lowering the interest rates at which private banks borrow money from the government, the federal reserve bank influences

The size of the nations money supply the value of the dollar investor confidence (all of these choices are correct)

New improved mining equipment that was found to increase cases of black lung disease because it generated higher levels of dust in the mines is an example of negative externalities

True

The amount of regulatory activity is often cyclical

True

The cost of economic regulation in the United States has grown more slowly than that of social regulation

True

economic regulations aimed to modify the normal operations of the free market and the forces of supply and demand

True

if a company uses its market dominance to restrain commerce, compete unfairly, or hurt customers, then it may be violating antitrust laws

True

in nondemocratic countries, the power of government may derive from a monarchy, military dictatorship, or religious authority

True

monetary policies refer to policies that affect the supply, demand, and value of the nations currency

True

regulation is a primary way of accomplishing public policy

True

anti-trust laws protect customers from

anti-competitive practices by business, such as price-fixing

businesses' understanding of government regulations is

both a domestic and an international issue

past decisions of the courts, the original basis for the US legal system, are called

common law

A test to determine if the benefits of regulation are worth its cost is called a

cost-benefit analysis

The removal or scaling back of regulatory authority and activities of government is called

deregulation

when a government orders companies not to conduct business in another country because of a war, human rights violation, or the lack of legitimate government; these orders are called

economic sanctions

A national care policy is an example of an economic policy

false

in all cases, businesses are unable to exert enough influence over government leaders to keep them in power

false

social regulations or limited to a particular type of business or industry

false

patterns of government collecting and spending funds to stimulate or support the economy fall under which type of policy

fiscal

public policy tools involve a combination of

incentives and penalties

A government is being asked to regulate driving distractions is an example of a public policy

input

when the market place does not adjust for the full cost of a firms behavior, this is called

market failure

Government regulations help balance negative externalities such as

mining regulations to fight black lung disease

rules that affect the supply, demand, and value of a nations currency refer to which type of public policy

monetary

if a company builds a complex infrastructure, which would be in efficient for a second firm to duplicate, the industry may develop into a

natural monopoly

when a firm sells products below cost to drive rivals out of business, this is called

predatory pricing

economic regulations are illustrated by which action

preventing anti-competitive business practices

A plan of action taken by government to achieve some broad purpose affecting a substantial segment of a nation's citizen is called

public policy

cooperation between business and government often occurs when

regulations set standards that apply to all firms rules build customer confidence in product safety barriers to entry help maintain a competitive advantage (all of these choices are correct)

since 1960, what was the growth trend in the US regulatory apparatus

significantly increased

laws aimed at protecting customers, the environment, and workers are collectively known as

social regulations

why should companies be concerned when doing business with questionable governments

they might indirectly support the illegitimate controlling power

regulation can be argued as justified based on

utilitarian and justice grounds

if a regulation is costly or stipples intubation, how would the impacted business likely respond

with strong opposition