Public Policy and Business Solved Exam Questions - 1434 Verified Questions

Public Policy and Business Solved Exam Questions

Course Introduction

This course explores the complex interactions between public policy and business, examining how government actions influence business decision-making and the broader economy. Students will analyze regulatory frameworks, economic policies, and the role of lobbying, while considering the ethical and social responsibilities of businesses in shaping policy. Through case studies and real-world examples, the course provides insight into the dynamic relationship between public and private sectors, equipping students with the analytical tools necessary for effective policy assessment and strategic business planning in a changing regulatory landscape.

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Business Government and Society 13th Edition by John F. Steiner

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18 Chapters

1434 Verified Questions

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Page 2

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

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Sample Questions

Q1) In the market capitalism model,the "market" acts as a buffer between business and nonmarket forces.

A)True

B)False

Answer: True

Q2) Which of the following is an example of a secondary stakeholder in a corporation?

A) Customers

B) Unions

C) Employees

D) Stockholders

Answer: B

Q3) In the _____ model,the _____ acts as a buffer between business and non-market forces.

A) stakeholder;market

B) countervailing forces;government

C) dominance;management

D) market capitalism;market

Answer: D

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Chapter 2: The Dynamic Environment

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Sample Questions

Q1) Globalization is:

A) an economic metamorphosis that started in England in the late 1700s.

B) the creation and maintenance of a disparate economic relationship between states.

C) the creation of networks of human interaction that span worldwide distances.

D) a philosophy in which nations promote trade by easing tariff and non-tariff barriers.

Answer: C

Q2) _____ is a philosophy in which nations promote trade by easing restrictions,including both tariff and non-tariff barriers.

A) Foreign direct investment

B) Trade liberalization

C) Monopoly

D) Oligopoly

Answer: B

Q3) The employees of a business are a part of its external environment.

A)True

B)False

Answer: False

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Chapter 3: Business Power

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Sample Questions

Q1) The laws of the United States have been shaped by the consequences of the industrial activities.

A)True

B)False

Answer: True

Q2) According to John Locke,for governments the opposite of power is ____,defined as "the exercise of power beyond right."

A) monarchy

B) tyranny

C) oligarchy

D) theocracy

Answer: B

Q3) Define a pluralistic society.

Answer: A pluralistic society is one having multiple groups and institutions through which power is diffused.Within such a society no entity or interest has overriding power,and each may check and balance others.In such a society,business must interact with constraining forces in its environment.It may have considerable influence over some of them;but over most it has limited influence,and over a few none at all.

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Chapter 4: Critics of Business

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Sample Questions

Q1) The members of the broad political and social reform movement that took place in the early years of the 20^th century are known as the:

A) old Progressives.

B) liberals.

C) new Progressives.

D) socialists.

Q2) Plutocracy refers to a society that is ruled by the wealthy.

A)True

B)False

Q3) During World War II,support for business rebounded in the United States.

A)True

B)False

Q4) Discuss the ancient agrarian societies of Greece and Rome.

Q5) Which of the following is true about an agrarian society?

A) It was a postindustrial society.

B) Most people worked in the industries for subsistence.

C) The political and cultural values of such societies was based on industrial experience.

D) Business activity beyond barter and exchange was a tiny part of the economy.

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) The International Organization for Standardization is developing the _____ which is intended to set forth underlying principles,core subjects,and methods for integrating social performance in the plans,systems,and processes of organizations.

A) ISO 5000

B) ISO 9000

C) ISO 14000

D) ISO 2600

Q2) According to conservative economists:

A) businesses are reservoirs of skill and energy for improving civic life.

B) business is most responsible when it makes money efficiently.

C) business is most accountable when it applies its energy on social projects.

D) managers have an ethical duty to consider the broad social impact of their decisions.

Q3) The standard used by the International Organization for Standardization to determine the environmental impact of a product or service is the:

A) ISO 5000.

B) ISO 9000.

C) ISO 14000.

D) ISO 2600.

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7

Chapter 6: Implementing Corporate Social Responsibility

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Sample Questions

Q1) Which of the following statements about a CSR review is false?

A) It explores regulatory requirements,but cannot examine competitors' initiatives.

B) It involves an engagement of stakeholders to reveal expectations in society.

C) It can begin with a definition of CSR to provide a focus.

D) It involves a discovery of core values.

Q2) Social responsibility is still frequently seen as a superfluous activity only indirectly related to the bottom line,one that costs money,takes time,and reduces efficiency.

A)True

B)False

Q3) Define a business model and explain its purpose.

Q4) The statement of how a business will create value by selling something in the marketplace is called:

A) a business model.

B) the triple bottom line.

C) a scenario.

D) cause-related marketing.

Q5) Explain what the Global Reporting Initiative (GRI)is intended to accomplish.

Q6) Explain what an action plan is and how it facilitates CSR implementation.

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Chapter 7: Business Ethics

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Sample Questions

Q1) Distinguish between ethical universalism and ethical relativism.

Q2) Most U.S.companies have a written code of ethical conduct.

A)True

B)False

Q3) Friedrich Nietzsche's idea that great men made their own ethical rules without respect for the general good was called:

A) master morality.

B) the theory of moral responsibility.

C) realism.

D) moral free space.

Q4) Discuss the three stages of a "civilization" as it typically develops over time.

Q5) All corporate cultures have ethical dimensions.

A)True

B)False

Q6) A critical function of managers is to create strong competitive strategies that enable a company to meet its strategic objectives even if it means encouraging ethical compromise.

A)True

B)False

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Q7) What is an ethics and compliance program? Is it being followed by companies?

Chapter 8: Making Ethical Decisions in Business

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Sample Questions

Q1) In considering whether or not to do a certain action based on ethical reasoning,a manager asks herself: "If I act in this way,would my family approve of my actions?" Which of the following ethical principles is she applying?

A) The ends-means ethic

B) The intuition ethic

C) The organization ethic

D) The disclosure rule

Q2) Explain what is meant by the might-equals-right ethic in ethical decision-making and give a business example of the application of this concept.

Q3) Explain what is meant by the organization ethic in ethical decision-making and give a business example of the application of this concept.

Q4) 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

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Chapter 9: Business in Politics

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Sample Questions

Q1) _____ advocacy presents a political view or comment on an electoral race.

A) Issue

B) Ideological

C) Bureaucratic

D) Express

Q2) An express advocacy communication that is not coordinated with a candidate is known as a(n):

A) independent expenditure.

B) bundle expenditure.

C) hard expenditure.

D) soft expenditure.

Q3) Lobbyists have been regulated since 1946,when they were first required to register with the clerks of the House and Senate.

A)True

B)False

Q4) The organized labor was the strongest supporter of the industries.

A)True

B)False

Q5) Define the following lobbying methods: contact lobbying,background lobbying,and grassroots lobbying.

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Chapter 10: Regulating Business

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Sample Questions

Q1) Guidance is information published in nonbinding documents like memoranda and circulars intended to clarify official regulations.

A)True

B)False

Q2) Which of the following is true about regulatory statutes?

A) A bill containing regulatory authority has to be passed by at least one house of the Congress.

B) After the bill containing regulatory authority is passed,it is assigned exclusively to an independent commission.

C) Statutes contain all the specific rules needed.

D) Federal regulation originates in an act of Congress.

Q3) The _____ Act requires each agency to set up an adjudication process leading to trial before an administrative law judge.

A) Congressional Accountability

B) Administrative Procedure

C) Congressional Review

D) Apportionment

Q4) What is an executive agency?

Q5) Define the Commerce Clause.

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Chapter 11: Multinational Corporations

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Sample Questions

Q1) The economic policy of lowering tariffs and other barriers to encourage trade and investment is known as:

A) liberalization.

B) globalization.

C) capitalism.

D) multinationality.

Q2) This is a 1977 code of conduct that required multinational corporations in South Africa to do business in a nondiscriminatory way.

A) The MacBride Principles

B) The Equator Principles

C) The CERES Principles

D) The Sullivan Principles

Q3) This is the limited,speculative purchase of stocks and bonds of a foreign company by individuals or mutual funds.

A) Portfolio investment

B) FDI

C) TNI

D) Direct investment

Q4) What is portfolio investment? How is it different from FDI?

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Chapter 12: Globalization, Trade, and Corruption

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Sample Questions

Q1) Even as nations' nontariff barriers have generally fallen,tariffs have multiplied.

A)True

B)False

Q2) A set of economic policies prescribed to correct flaws in a national economy is known as:

A) the Washington Consensus.

B) a structural adjustment program.

C) autarky.

D) liberalization.

Q3) Explain the law of comparative advantage.

Q4) In the Uruguay Round,developed countries concluded an Agreement on Trade-Related Aspects of Intellectual Property Rights that required participants to:

A) protect private property owners' rights in all countries.

B) protect property rights in products such as software,digital entertainment,and pharmaceuticals.

C) liberalize restrictions on direct investment in a wide range of areas.

D) limit the exportation of products by a business.

Q5) Discuss the main provisions of the Foreign Corrupt Practices Act (FCPA).

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Chapter 13: Industrial Pollution and Environmental Regulation

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Sample Questions

Q1) The Resource Conservation and Recovery Act ensures that the thousands of abandoned toxic waste sites around the United States are cleaned up.

A)True

B)False

Q2) _____ refer to six natural substances that in large quantities cause the degradation of air quality.

A) Point source effluents

B) Greenhouse gases

C) Criteria pollutants

D) Hazardous air pollutants

Q3) The Montreal Protocol set timetables to phase out worldwide:

A) elimination of leaded gasoline.

B) use of 96 ozone-depleting chemicals.

C) emission of greenhouse gases.

D) build-up of radon.

Q4) Hazardous air pollutants are chemical emissions that pose a health risk of serious illness such as cancer or birth defects with small inhalation exposures.

A)True

B)False

Page 15

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Chapter 14: Managing Environmental Quality

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Sample Questions

Q1) Exposure assessment establishes a link between a substance and human disease.

A)True

B)False

Q2) Define exposure assessment.What does it involve?

Q3) Risk is the probability that a harm will occur and it is typically measured on a scale that ranges between:

A) minus one and absolute certainty.

B) minus one to plus one.

C) zero and absolute certainty.

D) zero to ten.

Q4) What is the major advantage of a cap-and-trade system?

A) It reduces costs for companies under the cap.

B) It puts companies under the cap at a competitive advantage when foreign competitors are outside the cap.

C) It allows developed countries to meet greenhouse gas reproduction pledges by paying for carbon offset projects in developing nations.

D) It actually reduces overall emissions as the cap is lowered.

Q5) Define command-and-control regulation.What are the advantages and disadvantages of the command-and-control regulation?

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Chapter 15: Consumerism

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Sample Questions

Q1) Which of the following agencies sets the drinking water standards?

A) The Environmental Protection Agency

B) The Food Safety and Inspection Service

C) The Consumer Product Safety Commission

D) The Food and Drug Administration

Q2) The Food and Drug Administration has the authority to regulate the quality,safety,and labeling of poultry,meat,eggs,and alcoholic beverages.

A)True

B)False

Q3) What does materialism mean?

Q4) A tort solely involves an intentional action that causes injury.

A)True

B)False

Q5) What are the broad duties of the Federal Trade Commission (FTC)?

Q6) The Consumer Product Safety Commission (CPSC)has the power to:

A) set mandatory safety standards for more than 15,000 consumer products.

B) minimize but not ban the sale of products that expose consumers to unreasonable risks.

C) prevent false and deceptive advertising.

Page 17

D) protect the public from fraudulent and deceptive sales practices.

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Chapter 16: The Changing Workplace

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Sample Questions

Q1) The doctrine of liberty of contract allowed employers and workers to negotiate all aspects of the employment contract without any government interference.

A)True

B)False

Q2) The large cohort of workers born between 1946 and 1964 are known as:

A) the baby-boom generation.

B) Gen X.

C) Gen Y.

D) the baby-bust generation.

Q3) Which of the following sectors includes fishing and forestry occupations?

A) Agricultural

B) Goods-producing

C) Service

D) Manufacturing

Q4) The large cohort of workers born between 1946 and 1964 are known as the baby-bust generation.

A)True

B)False

Q5) Define replacement fertility rate.

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Chapter 17: Civil Rights, Women, and Diversity

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Sample Questions

Q1) The Office of Federal Contract Compliance Programs:

A) establishes rigid hiring goals for all companies.

B) has mandated a goal of 10 percent females in the construction industry.

C) conducts zealous compliance reviews.

D) uses qualitative tools to target companies where discrimination is most likely to be uncovered.

Q2) The Civil Rights Act of 1875 was based on the _____ Amendment.

A) Sixteenth

B) Thirteenth

C) Fourteenth

D) Fifteenth

Q3) Policies that seek out,encourage,and sometimes give preferential treatment to employees in the groups protected by Title VII of the Civil Rights Act of 1964 are called:

A) affirmative action.

B) systematic discrimination policies.

C) anti-harassment policies.

D) quid pro quo.

Q4) Define disparate treatment,disparate impact,and business necessity.

Q5) What are the three affirmative action debates? Explain them in brief.

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Chapter 18: Corporate Governance

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Sample Questions

Q1) In the United States,company charters are granted by the federal government.

A)True

B)False

Q2) Discuss the advantages that management has over shareholders.

Q3) Companies must disclose their compensation plans and the annual compensation of the top five executive officers to shareholders.

A)True

B)False

Q4) Corporate charters require the directors of the company to protect the financial interests of the company's stockholders.

A)True

B)False

Q5) According to the Dodd-Frank Act,shareholders who want to run a board candidate have to contact other shareholders at their own very high expense.

A)True

B)False

Q6) Describe the maximum penalty directors and managers are subject to for civil and criminal violations as specified in the Sarbanes-Oxley Act.

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