Question 1

Sometimes national leaders resist the notion of international regulation,seeking to control matters of commerce themselves within their own countries.

Accepted Answer

A) True 
 B)False  True

Question 2

European Union regulators accused Uber of engaging in:

Accepted Answer

A)   Price-fixing.
B)   False advertising.
C)   Unfair competition.
D)   Unhealthy working conditions.

Question 3

An example of a regulatory agency charged with enforcing social regulation is:

Accepted Answer

A)   Federal Aviation Administration.
B)   Federal Trade Commission.
C)   Federal Communications Commission.
D)   Internal Revenue Service.

Question 4

Which of the following are examples of natural monopolies?

Accepted Answer

A)   Electric utilities and railroads.
B)   Cable television and the media.
C)   Internet services and trucking.
D)   None of the above.

Question 5

When the market fails to adjust for the full costs of a firm's behavior,this is called:

Accepted Answer

A)   Negative externalities.
B)   Deregulation.
C)   Market failure.
D)   Re-regulation.

Question 6

Reregulation is:

Accepted Answer

A)   The adoption of regulation in another country to promote trade.
B)   Necessary since all regulation has a time limit.
C)   The increase or expansion of government regulation.
D)   The shifting of regulation to the state level from the national level.

Question 7

Economic regulations aim at modifying the normal operations of the free market and the forces of supply and demand.

Accepted Answer

A) True 
 B)False

Question 8

Total social regulation costs are:

Accepted Answer

A)   Slightly higher than total economic regulation costs.
B)   Slightly less than total economic regulation costs.
C)   Significantly higher than total economic regulation costs.
D)   Equal to total economic regulation costs.

Question 9

By raising and lowering the interest rates at which private banks borrow money from the government,the Federal Reserve Bank:

Accepted Answer

A)   Influences the size of the nation's money supply.
B)   Influences the value of the dollar.
C)   Minimizes investor confidence about the nation's future.
D)   Both A and B, but not C

Question 10

The primary way of accomplishing public policy is through:

Accepted Answer

A)   Waiting for businesses to act.
B)   Lobbying Congress.
C)   Regulation.
D)   Writing your politician.

Question 11

In Europe,unions are prohibited by law to be on businesses' administrative boards.

Accepted Answer

A) True 
 B)False

Question 12

A national health care policy is an example of an economic policy.

Accepted Answer

A) True 
 B)False

Question 13

In 2012 the European Union imposed a carbon emissions fee on all airlines flying in and out of EU airspace that:

Accepted Answer

A)   Successfully raised funds through fees to limit greenhouse gas emissions.
B)   Garnered great support from the Chinese and U.S. governments.
C)   Generated great opposition from more than two dozen countries.
D)   Effectively eliminated greenhouse gas emissions in its airspace. C

Question 14

Define each key element of the public policy process and provide an illustration or example for each element.

Accepted Answer

The key elements of the public policy pr...

Question 15

Cooperation between business and government often occurs when:

Accepted Answer

A)   They encounter a common problem or enemy.
B)   Business can afford it.
C)   Business operates at arm's length from the government.
D)   Government has the support of the people.

Question 16

Government and business together establish the regulatory rules under which business operates in society.

Accepted Answer

A) True 
 B)False

Question 17

Predatory pricing is a violation of antitrust laws.

Accepted Answer

A) True 
 B)False

Question 18

Economists reported that the costs of regulatory compliance were highest for:

Accepted Answer

A)   Vehicle safety.
B)   Antitrust issues.
C)   Worker safety.
D)   Consumer protection.

Question 19

Deregulation has occurred in the following industries:

Accepted Answer

A)   Commercial airlines, sheet metal, and interstate trucking.
B)   Commercial airlines, railroads, and financial institutions.
C)   Commercial airlines, interstate trucking, and silicon chip manufacturing.
D)   Financial institutions, railroads, and silicon chip manufacturing.

Question 20

Policies that affect the supply,demand,and value of a nation's currency are:

Accepted Answer

A)   International standards policies.
B)   Social assistance policies.
C)   Fiscal policies.
D)   Monetary policies. D

Exam 7: Businessgovernment Relations

Sometimes national leaders resist the notion of international regulation,seeking to control matters of commerce themselves within their own countries.

Correct AnswerverifiedTrue

European Union regulators accused Uber of engaging in:

Correct AnswerverifiedShow Answer

An example of a regulatory agency charged with enforcing social regulation is:

Correct AnswerverifiedShow Answer

Which of the following are examples of natural monopolies?

Correct AnswerverifiedShow Answer

When the market fails to adjust for the full costs of a firm's behavior,this is called:

Correct AnswerverifiedShow Answer

Reregulation is:

Correct AnswerverifiedShow Answer

Economic regulations aim at modifying the normal operations of the free market and the forces of supply and demand.

Correct AnswerverifiedShow Answer

Total social regulation costs are:

Correct AnswerverifiedShow Answer

By raising and lowering the interest rates at which private banks borrow money from the government,the Federal Reserve Bank:

Correct AnswerverifiedShow Answer

The primary way of accomplishing public policy is through:

Correct AnswerverifiedShow Answer

In Europe,unions are prohibited by law to be on businesses' administrative boards.

Correct AnswerverifiedShow Answer

A national health care policy is an example of an economic policy.

Correct AnswerverifiedShow Answer

In 2012 the European Union imposed a carbon emissions fee on all airlines flying in and out of EU airspace that:

Correct AnswerverifiedC

Define each key element of the public policy process and provide an illustration or example for each element.

Correct AnswerAnswered by ExamLex AIThe key elements of the public policy pr...View AnswerShow Answer

Cooperation between business and government often occurs when:

Correct AnswerverifiedShow Answer

Government and business together establish the regulatory rules under which business operates in society.

Correct AnswerverifiedShow Answer

Predatory pricing is a violation of antitrust laws.

Correct AnswerverifiedShow Answer

Economists reported that the costs of regulatory compliance were highest for:

Correct AnswerverifiedShow Answer

Deregulation has occurred in the following industries:

Correct AnswerverifiedShow Answer

Policies that affect the supply,demand,and value of a nation's currency are:

Correct AnswerverifiedD

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C

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Answered by ExamLex AI
The key elements of the public policy pr...
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D