Question 1

Industrial policy is:

Accepted Answer

A)  by default. 
B)  a powerful nonregulating approach by government to influence business. 
C)  non debatable. 
D)  consistent in each government administration. 
A)  by default. 
B)  a powerful nonregulating approach by government to influence business. 
C)  non debatable. 
D)  consistent in each government administration.

Question 2

Government payments to industries or groups with special qualifications are called

Accepted Answer

A)  transfer payments. 
B)  subsidies. 
C)  loan guarantees. 
D)  moral suasion. 
A)  transfer payments. 
B)  subsidies. 
C)  loan guarantees. 
D)  moral suasion.

Question 3

Government attempts to persuade business to act in the public interest are called

Accepted Answer

A)  monetary policies. 
B)  moral suasion. 
C)  standard setting. 
D)  transfer payments. 
A)  monetary policies. 
B)  moral suasion. 
C)  standard setting. 
D)  transfer payments.

Question 4

Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it.
-Given information from this chapter, can governments manage more ethically than capitalism?

Accepted Answer

While student answers will be variable i

Question 5

A 2015 Pew research survey found that respondents think the government is doing well on many issues except

Accepted Answer

A)  setting workplace standards. 
B)  protecting the environment. 
C)  keeping us safe from terrorists. 
D)  cutting corporate taxes. 
A)  setting workplace standards. 
B)  protecting the environment. 
C)  keeping us safe from terrorists. 
D)  cutting corporate taxes.

Question 6

Governmental regulations that seek to further societal objectives are examples of

Accepted Answer

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

Question 7

Negative externalities are often referred to as

Accepted Answer

A)  full absorption costs. 
B)  social costs. 
C)  allocated costs. 
D)  environmental costs. 
A)  full absorption costs. 
B)  social costs. 
C)  allocated costs. 
D)  environmental costs.

Question 8

Keeping people informed is an important social goal of government.

Accepted Answer

A) True 
 B)False

Question 9

The public and government use all of the following methods of influencing each other except

Accepted Answer

A)  politicking. 
B)  voting. 
C)  forming special-interest groups. 
D)  coercion. 
A)  politicking. 
B)  voting. 
C)  forming special-interest groups. 
D)  coercion.

Question 10

Which of the following is not considered a part of the induced costs of regulation?

Accepted Answer

A)  the effect on innovation 
B)  the effect on investments in plant and equipment 
C)  the effect on small business 
D)  the effect on consumers 
A)  the effect on innovation 
B)  the effect on investments in plant and equipment 
C)  the effect on small business 
D)  the effect on consumers

Question 11

The newer form of industrial policy is exemplified by:

Accepted Answer

A)  a focus on enabling industrialization. 
B)  Karl Aiginer's book, "Industrial Policy: A Dying Breed or a Re-emerging Phoenix?" 
C)  policy that does not conflict with widely held view on the role of government in the economy. 
D)  Robert Reich's book, "The Next American Frontier." 
A)  a focus on enabling industrialization. 
B)  Karl Aiginer's book, "Industrial Policy: A Dying Breed or a Re-emerging Phoenix?" 
C)  policy that does not conflict with widely held view on the role of government in the economy. 
D)  Robert Reich's book, "The Next American Frontier."

Question 12

One of the recurring problems in industries that have been deregulated is that they tend to become dominated by a few firms.

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

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

Question 14

Most Congressional legislation before the 1950s that affected business was

Accepted Answer

A)  economic in nature. 
B)  social regulation. 
C)  aimed at protecting individuals' rights. 
D)  to protect consumers' privacy. 
A)  economic in nature. 
B)  social regulation. 
C)  aimed at protecting individuals' rights. 
D)  to protect consumers' privacy.

Question 15

The act of governing or bringing under the control of law or constituted authority is called

Accepted Answer

A)  regulation. 
B)  despotism. 
C)  central planning. 
D)  dictatorship. 
A)  regulation. 
B)  despotism. 
C)  central planning. 
D)  dictatorship.

Question 16

Arguments against industrial policy include all of the following except

Accepted Answer

A)  reduces market efficiency 
B)  The need to rescue "sunset" industries. 
C)  the need to promote "sunrise" industries. 
D)  foreign industrial policy success has been variable. 
A)  reduces market efficiency 
B)  The need to rescue "sunset" industries. 
C)  the need to promote "sunrise" industries. 
D)  foreign industrial policy success has been variable.

Question 17

Arguments against privatization include all of these except:

Accepted Answer

A)  social goals. 
B)  service provisions. 
C)  public backlash. 
D)  safety concerns. 
A)  social goals. 
B)  service provisions. 
C)  public backlash. 
D)  safety concerns.

Question 18

Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it.
-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

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A) True 
 B)False

Industrial policy is:

Government payments to industries or groups with special qualifications are called

Government attempts to persuade business to act in the public interest are called

A 2015 Pew research survey found that respondents think the government is doing well on many issues except

Governmental regulations that seek to further societal objectives are examples of

Negative externalities are often referred to as

Keeping people informed is an important social goal of government.

The public and government use all of the following methods of influencing each other except

Which of the following is not considered a part of the induced costs of regulation?

The newer form of industrial policy is exemplified by:

One of the recurring problems in industries that have been deregulated is that they tend to become dominated by a few firms.

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

Most Congressional legislation before the 1950s that affected business was

The act of governing or bringing under the control of law or constituted authority is called

Arguments against industrial policy include all of the following except

Arguments against privatization include all of these except:

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

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

The Business and Society Relationship.

Corporate Social Responsibility, Citizenship, and Sustainability.

The Stakeholder Approach to Business, Society, and Ethics.

Corporate Governance: Foundational Issues.

Strategic Management and Corporate Public Affairs.

Risk, Issue, and Crisis Management.

Business Ethics Essentials

Managerial and Organizational Ethics.

Business Ethics and Technology.

Ethical Issues in the Global Arena.

Business Influence on Government and Public Policy.

Consumer Stakeholders: Information Issues

Consumer Stakeholders: Product and Service Issues.

Sustainability and the Natural Environment.

Business and Community Stakeholders.

Employee Stakeholders and Workplace Issues.

Employee Stakeholders: Privacy, Safety, and Health.

Employment Discrimination and Workplace Diversity

Filters

Exam 11: Business, Government, and Regulation.

Industrial policy is:

Government payments to industries or groups with special qualifications are called

Government attempts to persuade business to act in the public interest are called

A 2015 Pew research survey found that respondents think the government is doing well on many issues except

Governmental regulations that seek to further societal objectives are examples of

Negative externalities are often referred to as

Keeping people informed is an important social goal of government.

The public and government use all of the following methods of influencing each other except

Which of the following is not considered a part of the induced costs of regulation?

The newer form of industrial policy is exemplified by:

One of the recurring problems in industries that have been deregulated is that they tend to become dominated by a few firms.

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

Most Congressional legislation before the 1950s that affected business was

The act of governing or bringing under the control of law or constituted authority is called

Arguments against industrial policy include all of the following except

Arguments against privatization include all of these except:

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

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

The Business and Society Relationship.

Corporate Social Responsibility, Citizenship, and Sustainability.

The Stakeholder Approach to Business, Society, and Ethics.

Corporate Governance: Foundational Issues.

Strategic Management and Corporate Public Affairs.

Risk, Issue, and Crisis Management.

Business Ethics Essentials

Managerial and Organizational Ethics.

Business Ethics and Technology.

Ethical Issues in the Global Arena.

Business Influence on Government and Public Policy.

Consumer Stakeholders: Information Issues

Consumer Stakeholders: Product and Service Issues.

Sustainability and the Natural Environment.

Business and Community Stakeholders.

Employee Stakeholders and Workplace Issues.

Employee Stakeholders: Privacy, Safety, and Health.

Employment Discrimination and Workplace Diversity

Filters