Government and Business Exam Materials - 1434 Verified Questions

Government and Business Exam Materials

Course Introduction

This course explores the complex relationship between government and business, examining how laws, regulations, and policies shape the business environment and influence corporate decision-making. Students will analyze the motivations and impacts of governmental intervention in the marketplace, including regulation, deregulation, antitrust policies, and economic development initiatives. The course also considers ethical dilemmas, lobbying, public-private partnerships, and global perspectives on government-business interactions. Through case studies and current events, students will develop a critical understanding of the dynamic interplay between public institutions and private enterprise in modern economies.

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Business Government and Society 13th Edition by

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18 Chapters

1434 Verified Questions

1434 Flashcards

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John F. Steiner

Page 2

Chapter 1: The Study of Business, Government, and Society

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Sample Questions

Q1) The economic philosophy that rejects government intervention in markets is called __.

A) socialism

B) laissez-faire

C) communism

D) totalitarianism

Answer: B

Q2) The network of human relations that consists of ideas,institutions,and material things is a(n)________.

A) ideology

B) society

C) theory

D) government

Answer: B

Q3) In the market capitalism model,the "market" acts as a buffer between business and nonmarket forces.

A)True

B)False

Answer: True

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Page 3

Chapter 2: The Dynamic Environment

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Sample Questions

Q1) The _____ environment consists of forces that influence market operations,like commodity prices and interest rates.

A) economic

B) technological

C) cultural

D) legal

Answer: A

Q2) Which of the following is considered to be the bedrock of economic globalization?

A) Monopoly

B) Foreign direct investment

C) Oligopoly

D) Trade liberalization

Answer: D

Q3) Define the term "globalization."

Answer: Globalization occurs when networks of economic,political,social,military,scientific,or environmental interdependence grow to span worldwide distances.In the economic realm,globalization occurs when nations open themselves to foreign trade and investment,creating world markets for goods,services,and capital.

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Page 4

Chapter 3: Business Power

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Sample Questions

Q1) The idea that business is preeminent in American society,primarily because of its control of wealth,and that its power is both excessive and inadequately checked is based on the _____ theory of business power.

A) dominance

B) state autonomy

C) pluralist

D) agonism

Answer: A

Q2) Several features of American society support the thesis of pluralism.Which of the following is one of them?

A) It has capitalist values.

B) It encompasses a small population spread over a small geography but engaged in diverse occupations.

C) Its businesses are free of market pressures.

D) Its Constitution encourages pluralism.

Answer: D

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Chapter 4: Critics of Business

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Sample Questions

Q1) A society that has its economic,political,and cultural values based on agriculture is called a(n)_____ society.

A) agrarian

B) postindustrial

C) industrial

D) tribal

Q2) During industrialization:

A) consumption supplants thrift and saving.

B) less emphasis is placed on material things.

C) self-restraint overwhelms wealth creation.

D) rural,slow-paced societies remain unaltered.

Q3) The Group of Eight has now expanded and is currently known as:

A) G20.

B) G24.

C) G77.

D) G8 + 5.

Q4) Explain the prevailing theology of the Roman Catholic Church during the Middle Ages.

Q5) What is just price?

Q6) What is meant by liberalism,economic liberalism,Keynesianism,and neoliberalism?

Page 6

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Chapter 5: Corporate Social Responsibility

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Sample Questions

Q1) Which of the following correctly outlines the corporate social responsibility spectrum reading from left to right?

A) Free market conservatives,mainstream corporate managers,progressive civil societies,and radical Progressives.

B) Radical Progressives,mainstream corporate managers,progressive civil societies,and free market conservatives.

C) Free market conservatives,progressive civil societies,and radical Progressives.

D) Radical Progressives,progressive civil societies,mainstream corporate managers,and free market conservatives.

Q2) All of the following statements were the interrelated themes of broader responsibility that emerged during the Progressive era EXCEPT:

A) managers were trustees,whose corporate roles put them in positions of power.

B) managers had an obligation to balance multiple interests.

C) many managers subscribed to the service principle.

D) managers concentrated more on promoting their self-interests.

Q3) Describe any four principles of corporate social responsibility.

Q4) What is corporate social responsibility?

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Chapter 6: Implementing Corporate Social Responsibility

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Sample Questions

Q1) The standard that uses economic,environmental,and social performance indicators that are based on GRI standards is called the:

A) triple bottom line.

B) social audit.

C) business model.

D) value chain.

Q2) Which of the following is a traditional,passive form of corporate philanthropy characterized by donations to multiple worthy causes without any relationship to business strategy?

A) Altruism

B) Cause-related marketing

C) Checkbook philanthropy

D) Venture philanthropy

Q3) _____ are those social issues/impacts related to factors that influence success in the marketplace.

A) Competitive social issues

B) Generic social issues

C) Value chain social impacts

D) Comprehensive social impacts

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Page 8

Chapter 7: Business Ethics

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Sample Questions

Q1) A person hired by a corporation to oversee fulfillment of conditions in an agreement to avoid criminal indictment is called a:

A) gatekeeper.

B) mentor.

C) principal.

D) monitor.

Q2) When a company signs a DPA or NPA it is indicted.

A)True

B)False

Q3) What is the theory of moral unity?

Q4) Explain the basic ideas in the philosophy of utilitarianism.

Q5) Under which of the following corporate cultural values do symbolic displays such as picture walls of former executives come under?

A) Espoused values

B) Artifacts

C) Enacted values

D) Tacit underlying values

Q6) Explain the difference between a civil court awarding compensatory damages and punitive damages to a plaintiff.

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Chapter 8: Making Ethical Decisions in Business

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Sample Questions

Q1) Aristotle argued that the end justified the means.

A)True

B)False

Q2) Brain research into neural sensitivity affirms this ethic if it is defined as moral intuition enlightened by experience and ethical education.

A) The intuition ethic

B) The rights ethic

C) The equal freedom ethic

D) The virtue ethic

Q3) The set of rules that a manager can use to make decisions that have both good and bad consequences is the basis of the:

A) might-equals-right ethic.

B) ends-means ethic.

C) proportionality ethic.

D) utilitarian ethic.

Q4) Philosopher G.E.Moore believed that a good manager can "sense" the difference between right and wrong behavior.

A)True

B)False

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Chapter 9: Business in Politics

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Sample Questions

Q1) The U.S.Constitution allows for judicial review of laws to determine if officials of the government exceed their authority.

A)True

B)False

Q2) The organized labor was the strongest supporter of the industries.

A)True

B)False

Q3) According to the Lobbying Disclosure Act,individuals and corporations engaged in lobbying have to disclose their political contributions to candidates,parties,and committees four times a year.

A)True

B)False

Q4) Discuss the ascendancy of business,corruption,and reform during the 19^th century.

Q5) During the 1960s and 1970s,national politics became dominated by a conservative agenda.

A)True

B)False

Q6) Define peak associations,trade associations,Washington offices,and coalitions.

Page 11

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Chapter 10: Regulating Business

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Sample Questions

Q1) Statutes rarely contain all the specific rules needed to assure that their intended purpose is achieved.

A)True

B)False

Q2) What is an executive agency?

Q3) Explain the process of rulemaking.

Q4) What is regulation? What is the first step in the creation of a new regulation?

Q5) Presidents have formal control over rulemaking by independent agencies.

A)True

B)False

Q6) Discuss the World Bank study of the regulation of doing business in nations other than the U.S.

Q7) When an agency decides to promulgate a rule and the draft is ready,the agency publishes it as a proposed rule in the:

A) Code of Federal Regulations.

B) Official Congressional Directory.

C) United States Reports.

D) Federal Register.

Page 12

Q8) List some of the market failures that justify regulation.

Q9) Explain the term "natural monopoly."

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Chapter 11: Multinational Corporations

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Q1) The Global Compact is a code of conduct that enforces its principles.

A)True

B)False

Q2) List the five tiers of internationalization.

Q3) This is a 1789 law permitting foreign citizens to litigate alleged violations of international law in U.S.federal district courts.

A) The Alien Tort Claims Act

B) The Sherman Antitrust Act

C) The Foreign Exchange Regulation Act

D) The Sarbanes-Oxley Act

Q4) The OECD Guidelines for Multinational Enterprises is a set of 16 broadly worded principles about protecting and conserving the natural environment.

A)True

B)False

Q5) Give two examples of actions reported by Global Compact participants.

Q6) Discuss the relevance of the Alien Tort Claims Act.

Q7) Discuss the United Nation's efforts to promote MNC social responsibility and to harness FDI for economic development.

Q8) Define bluewashing.

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Chapter 12: Globalization, Trade, and Corruption

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Q1) One main argument against protectionism is that a major cause of the rise in world trade is the widespread reduction in defensive barriers.

A)True

B)False

Q2) The World Trade Organization (WTO):

A) allows the defendant in a dispute to veto a decision if it disagreed.

B) is not a full-fledged international organization.

C) has been unsuccessful in adding to the GATT legacy of trade liberalization.

D) succeeded in launching a new round at meetings in Seattle in 1999.

Q3) In 2004,the United Nations added a tenth principle to the Global Compact requiring:

A) the effective abolition of child labor.

B) participant companies to adopt anti-corruption policies and controls.

C) respect for the protection of internationally proclaimed human rights.

D) the elimination of discrimination in employment and occupation.

Q4) For corruption to exist there must be both demand and supply.

A)True

B)False

Q5) What is globalization?

Q6) What is the European Union (EU)?

Page 15

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Chapter 13: Industrial Pollution and Environmental Regulation

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Sample Questions

Q1) Which of the following is NOT an example of an ecosystem service?

A) A coral reef that stabilizes seabeds.

B) Pollination of crops.

C) A land that has stopped producing water.

D) Pest control by birds.

Q2) Explain the theory of dualism.

Q3) According to the theory of land ethic,humans are part of an ethical community that includes not only other human beings but all elements of the natural environment.

A)True

B)False

Q4) Gases that evaporate from liquid or solid carbon-based compounds are known as condensibles.

A)True

B)False

Q5) The maximum achievable control technology is a performance standard used by the Environmental Protection Agency to control emissions of hazardous air pollutants.

A)True

B)False

Page 16

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Chapter 14: Managing Environmental Quality

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Q1) The Environmental Protection Agency uses the _____ dose-response rate model that assumes that there will be a proportionate decrease in cancers from large exposures to small ones.

A) linear

B) quantal

C) graded

D) indirect

Q2) The Energy Star program:

A) advances control strategies that regulate greenhouse gases.

B) identifies household and commercial products with high energy efficiency.

C) reduces emissions by purchasing alternative energy and buying emissions offsets. D) eliminates waste and warming gas emissions.

Q3) Explain the process of contingent valuation.

Q4) How are environmental taxes important as policy tools? What is main drawback of these taxes?

Q5) What does hazard assessment do?

Q6) Define threshold.

Q7) What are carbon offsets?

Q8) Discuss the process of emissions trading.

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Chapter 15: Consumerism

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Sample Questions

Q1) Define individualism.

Q2) The key to strict liability is that the injured person must prove negligence or breach of warranty to prevail in court.

A)True

B)False

Q3) According to critics of consumerism,it makes people judge other people for their external possessions rather than their interior qualities.

A)True

B)False

Q4) A manufacturer or seller can be held liable for a breach of express warranty but not implied warranty.

A)True

B)False

Q5) A tort is a private wrong committed by one person against another person or his/her property.

A)True

B)False

Q6) What are the three national movements that aimed to protect consumers in the United States?

Page 18

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Chapter 16: The Changing Workplace

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Sample Questions

Q1) Regular employees who are expected to remain with the firm forever are known as datsusara.

A)True

B)False

Q2) Salarymen are:

A) also called blue-collar businessmen.

B) titles given to senior members of non-profit organizations.

C) regular employees who are expected to remain with a firm permanently.

D) legal officers of a company or unincorporated business.

Q3) Japanese firms pay their employees on the _____ curve,a slowly rising wage scale based largely on seniority that allows for small differentials based on ability and provides a comfortable income fitting various stages.

A) nenko

B) karoshi

C) kaizen

D) salaryman

Q4) What are the core labor standards? Define labor flexibility.

Q5) Explain structural change.

Q6) Discuss the worker protection scenario in Germany.

Q7) What is the worker protection scenario in Japan?

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Chapter 17: Civil Rights, Women, and Diversity

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Q1) President Abraham Lincoln issued the Emancipation Proclamation that:

A) freed an estimated 4 million slaves.

B) totally abolished slavery.

C) was intended to prevent Southern states from passing discriminatory laws.

D) prohibited race discrimination in voting.

Q2) Which of the following is a reason for the persisting gender wage gap?

A) Occupational segregation places many women in female-dominated occupations that tend to be lower paying than male-dominated ones.

B) Employers never hesitate to invest heavily in training women,thus giving women an equal opportunity for promotions.

C) The earning gap does not reflect elements of sex discrimination.

D) Although globalization has narrowed gender wage differentials,especially in high-skill occupations,they persist due to cultural traditions that shape labor market characteristics.

Q3) Distinguish between natural rights and civil rights.

Q4) The Civil Rights Act of 1960 is the cornerstone of the structure of laws and regulations enforcing equal opportunity.

A)True

B)False

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Chapter 18: Corporate Governance

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Sample Questions

Q1) Name the document sent to shareholders before the annual meeting that sets forth matters requiring their vote.

A) Proxy statement

B) Charter

C) Share certificate

D) Financial report

Q2) Discuss the advantages that management has over shareholders.

Q3) Corporate charters specify the rights and responsibilities of all of the following EXCEPT:

A) directors.

B) stockholders.

C) officers.

D) consumers.

Q4) What are two major duties that state incorporation laws impose on boards of directors?

Q5) Stockholders:

A) cannot propose resolutions for votes.

B) are said to be owners of corporations.

C) own a fraction of the corporation as property.

D) are liable for the corporation's actions.

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