Question 1

Governmental regulations that seek to further societal objectives are examples of

Accepted Answer

A)  social regulation.
B)  economic regulation.
C)  envirornnental control.
D)  central planning.

Question 2

When providing loan guarantees for business,the goverrnnent actually transfers the money to the business.

Accepted Answer

A) True 
 B)False

Question 3

Regulation imposes new costs on business,including direct,indirect,and induced costs.Which type of additional cost is most important to consider in the regulation process?

Accepted Answer

All additional costs are important,even though the additional costs incurred by government (the direct costs)are passed on to business,which with indirect costs are then passed on to the consumer.The most important,and potentially largest costs are the induced costs of effects on innovation,investment,and small business.It is probably impossible to accurately measure these costs,and certainly impossible to forecast the new technologies that never occur because of lack of investment and
innovation.

Question 4

Distinguish between producing a service and providing a service.Why is this distinction important in the debate over privatization?

Accepted Answer

Producing a service means that the entit...

Question 5

After the 1950s,most Congressional legislation that affected business was

Accepted Answer

A)  economic in nature.
B)  concerned largely with the quality oflife.
C)  supportive of business.
D)  aimed at promoting competition.

Question 6

The opposite of privatization could be considered

Accepted Answer

A)  creeping expropriation.
B)  industrial policy.
C)  subsidization.
D)  federalization.

Question 7

Goverrnnent regulations have been criticized for all the following reasons except

Accepted Answer

A)  being too extensive.
B)  being too costly.
C)  being burdensome to business.
D)  being ineffective.

Question 8

One of the most direct ways in which government influences business is through transfer payments.

Accepted Answer

A) True 
 B)False

Question 9

Arguments for industrial policy include all of the following except

Accepted Answer

A)  for economic reform.
B)  making government more efficient.
C)  making goverrnnent more effective.
D)  stifling innovation.

Question 10

Government intervention in monopolistic industries is often brought about by

Accepted Answer

A)  requests from smaller competitors.
B)  class-action lawsuits.
C)  anticompetitive practices.
D)  frequent bankruptcies within the industries. C

Question 11

Every form of state intervention that affects industry as a distinct part of the economy is called

Accepted Answer

A)  internationalization.
B)  globalization.
C)  industrial policy.
D)  privatization.

Question 12

Government is generally thought to follow the ethic of

Accepted Answer

A)  deontology.
B)  collectivism.
C)  individualism.
D)  socialism.

Question 13

Which of the following is not a role increasing goverrnnent's complex relationship with business?

Accepted Answer

A)  government is a major purchaser.
B)  goverrnnent can elevate some businesses while devaluing others.
C)  goverrnnent cannot have buying power
D)  goverrnnent can create new businesses through subsidization.

Question 14

The dilemma of regulation is the tradeoff between

Accepted Answer

A)  cost and efficiency.
B)  effective control and the burden placed on firms.
C)  private gain and public good.
D)  individualistic and collectivistic goals. B

Question 15

Our goals for business focus solely on the production and distribution of goods and services.

Accepted Answer

A) True 
 B)False

Question 16

According to the authors,the tension between business and govermnent is "a clash of ethical systems." If it is,compare such a viewpoint with Neil Jacoby's comments provided in the text.

Accepted Answer

Mr.Jacoby reflects on the adversarial na...

Question 17

The relationship between goverrnnent and business is limited to government's influence over business.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is not a major reason given for governmental regulation?

Accepted Answer

A)  controlling natural monopolies
B)  controlling negative externalities
C)  achieving social goals
D)  maintaining a trade surplus with foreign countries

Question 19

Newer social regulations covers business practices in all industries.

Accepted Answer

A) True 
 B)False

Question 20

The clash of ethical systems between government and business is centered around

Accepted Answer

A)  growth and sustainability.
B)  economic goals and social welfare.
C)  individualist and collectivist ethics.
D)  privatization and federalization.

Exam 11: Business, Go,crnmcnl, and Rcgulation

Governmental regulations that seek to further societal objectives are examples of

Correct Answer
verified

When providing loan guarantees for business,the goverrnnent actually transfers the money to the business.

Correct Answer
verified

Regulation imposes new costs on business,including direct,indirect,and induced costs.Which type of additional cost is most important to consider in the regulation process?

Distinguish between producing a service and providing a service.Why is this distinction important in the debate over privatization?

Correct Answer
verified
Producing a service means that the entit...
View Answer

After the 1950s,most Congressional legislation that affected business was

Correct Answer
verified

The opposite of privatization could be considered

Correct Answer
verified

Goverrnnent regulations have been criticized for all the following reasons except

Correct Answer
verified

One of the most direct ways in which government influences business is through transfer payments.

Correct Answer
verified

Arguments for industrial policy include all of the following except

Correct Answer
verified

Government intervention in monopolistic industries is often brought about by

Correct Answer
verified
C

Every form of state intervention that affects industry as a distinct part of the economy is called

Correct Answer
verified

Government is generally thought to follow the ethic of

Correct Answer
verified

Which of the following is not a role increasing goverrnnent's complex relationship with business?

Correct Answer
verified

The dilemma of regulation is the tradeoff between

Correct Answer
verified
B

Our goals for business focus solely on the production and distribution of goods and services.

Correct Answer
verified

According to the authors,the tension between business and govermnent is "a clash of ethical systems." If it is,compare such a viewpoint with Neil Jacoby's comments provided in the text.

Correct Answer
verified
Mr.Jacoby reflects on the adversarial na...
View Answer

The relationship between goverrnnent and business is limited to government's influence over business.

Correct Answer
verified

Which of the following is not a major reason given for governmental regulation?

Correct Answer
verified

Newer social regulations covers business practices in all industries.

Correct Answer
verified

The clash of ethical systems between government and business is centered around

Correct Answer
verified

Exam 11: Business, Go,crnmcnl, and Rcgulation

Governmental regulations that seek to further societal objectives are examples of

Correct AnswerverifiedShow Answer

When providing loan guarantees for business,the goverrnnent actually transfers the money to the business.

Correct AnswerverifiedShow Answer

Regulation imposes new costs on business,including direct,indirect,and induced costs.Which type of additional cost is most important to consider in the regulation process?

Distinguish between producing a service and providing a service.Why is this distinction important in the debate over privatization?

Correct AnswerverifiedProducing a service means that the entit...View AnswerShow Answer

After the 1950s,most Congressional legislation that affected business was

Correct AnswerverifiedShow Answer

The opposite of privatization could be considered

Correct AnswerverifiedShow Answer

Goverrnnent regulations have been criticized for all the following reasons except

Correct AnswerverifiedShow Answer

One of the most direct ways in which government influences business is through transfer payments.

Correct AnswerverifiedShow Answer

Arguments for industrial policy include all of the following except

Correct AnswerverifiedShow Answer

Government intervention in monopolistic industries is often brought about by

Correct AnswerverifiedC

Every form of state intervention that affects industry as a distinct part of the economy is called

Correct AnswerverifiedShow Answer

Government is generally thought to follow the ethic of

Correct AnswerverifiedShow Answer

Which of the following is not a role increasing goverrnnent's complex relationship with business?

Correct AnswerverifiedShow Answer

The dilemma of regulation is the tradeoff between

Correct AnswerverifiedB

Our goals for business focus solely on the production and distribution of goods and services.

Correct AnswerverifiedShow Answer

According to the authors,the tension between business and govermnent is "a clash of ethical systems." If it is,compare such a viewpoint with Neil Jacoby's comments provided in the text.

Correct AnswerverifiedMr.Jacoby reflects on the adversarial na...View AnswerShow Answer

The relationship between goverrnnent and business is limited to government's influence over business.

Correct AnswerverifiedShow Answer

Which of the following is not a major reason given for governmental regulation?

Correct AnswerverifiedShow Answer

Newer social regulations covers business practices in all industries.

Correct AnswerverifiedShow Answer

The clash of ethical systems between government and business is centered around

Correct AnswerverifiedShow Answer

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Correct Answer
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Correct Answer
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Producing a service means that the entit...
View Answer

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C

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B

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Mr.Jacoby reflects on the adversarial na...
View Answer

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Correct Answer
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