Question 1

Which of the following is true regarding the FDA?

Accepted Answer

A)  Its main emphasis in terms of budget and staffing is food regulation. 
B)  It is lax on premarket testing of new prescription drugs. 
C)  It has the authority to inspect foreign food factories but the resources to visit only one-tenth of 1 percent of them. 
D)  It has been successful in eradicating economically motivated contamination and counterfeiting in the food supply. 
A)  Its main emphasis in terms of budget and staffing is food regulation. 
B)  It is lax on premarket testing of new prescription drugs. 
C)  It has the authority to inspect foreign food factories but the resources to visit only one-tenth of 1 percent of them. 
D)  It has been successful in eradicating economically motivated contamination and counterfeiting in the food supply. C

Question 2

Critics of consumerism believe that:

Accepted Answer

A)  people are judged for their interior qualities rather than their external possessions. 
B)  consumption for emotional reasons encourages productive uses of money. 
C)  consumption is compatible with sustainability. 
D)  things are judged for their market value rather than their intrinsic value. 
A)  people are judged for their interior qualities rather than their external possessions. 
B)  consumption for emotional reasons encourages productive uses of money. 
C)  consumption is compatible with sustainability. 
D)  things are judged for their market value rather than their intrinsic value. D

Question 3

The _____ has oversight of deceptive marketing,but if the fraud involves a moving van the _____ takes jurisdiction.

Accepted Answer

A)  Consumer Product Safety Commission;Federal Trade Commission 
B)  Consumer Product Safety Commission;Federal Motor Carrier Safety Administration 
C)  Federal Motor Carrier Safety Administration;Federal Trade Commission 
D)  Federal Trade Commission;Federal Motor Carrier Safety Administration 
A)  Consumer Product Safety Commission;Federal Trade Commission 
B)  Consumer Product Safety Commission;Federal Motor Carrier Safety Administration 
C)  Federal Motor Carrier Safety Administration;Federal Trade Commission 
D)  Federal Trade Commission;Federal Motor Carrier Safety Administration D

Question 4

The Federal Trade Commission (FTC)has broad duties to:

Accepted Answer

A)  ban the sale of products that expose consumers to unreasonable risks. 
B)  prohibit discrimination by lenders based on religion. 
C)  set safety standards for radiation-emitting products. 
D)  challenge mergers and acquisitions that reduce competition or innovation. 
A)  ban the sale of products that expose consumers to unreasonable risks. 
B)  prohibit discrimination by lenders based on religion. 
C)  set safety standards for radiation-emitting products. 
D)  challenge mergers and acquisitions that reduce competition or innovation.

Question 5

What are some of the general complaints against consumerism?

Accepted Answer

Consumerism has been a punching bag for

Question 6

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

Accepted Answer

The Federal Trade Commission (FTC)was bo

Question 7

In 2009,Congress gave the FDA power to:

Accepted Answer

A)  protect consumers from any practice that limits competition. 
B)  regulate cigarettes and smokeless tobacco. 
C)  ban tobacco products. 
D)  reduce nicotine levels to zero. 
A)  protect consumers from any practice that limits competition. 
B)  regulate cigarettes and smokeless tobacco. 
C)  ban tobacco products. 
D)  reduce nicotine levels to zero.

Question 8

The law of _____ addresses the issue of private wrongs committed by one person against another person or his/her property.

Accepted Answer

A)  unjust enrichment 
B)  torts 
C)  contracts 
D)  evidence 
A)  unjust enrichment 
B)  torts 
C)  contracts 
D)  evidence

Question 9

The president nominates two out of the five commissioners of the Federal Trade Commission.

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

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

Question 11

A warranty is a contract in which the seller guarantees the nature of the product.

Accepted Answer

A) True 
 B)False

Question 12

Explain the concepts of negligence,caveat emptor,and privity.

Accepted Answer

A tort is a private wrong and involves e

Question 13

Which of the following agencies acts against housing and loan discrimination?

Accepted Answer

A)  The Federal Trade Commission 
B)  The Bureau of Consumer Financial Protection 
C)  The Equal Employment Opportunity Commission 
D)  The Federal Deposit Insurance Corporation 
A)  The Federal Trade Commission 
B)  The Bureau of Consumer Financial Protection 
C)  The Equal Employment Opportunity Commission 
D)  The Federal Deposit Insurance Corporation

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

What is meant by director interlock?

Accepted Answer

Director interlock refers to a

Question 16

In 2009,Congress gave the Food and Drug Administration the power to regulate cigarettes and smokeless tobacco.

Accepted Answer

A) True 
 B)False

Question 17

According to historian Gary Cross,consumerism expresses a less powerful worldview than political ideologies.

Accepted Answer

A) True 
 B)False

Question 18

What does materialism mean?

Accepted Answer

Materialism is an emphasis on

Question 19

Which of the following is true regarding the Federal Trade Commission (FTC)?

Accepted Answer

A)  This important regulator was set up in the Populist era. 
B)  The president nominates its seven commissioners. 
C)  The Senate has to approve the commissioners. 
D)  Each commissioner serves a five-year term. 
A)  This important regulator was set up in the Populist era. 
B)  The president nominates its seven commissioners. 
C)  The Senate has to approve the commissioners. 
D)  Each commissioner serves a five-year term.

Question 20

Which of the following acts made it illegal for an individual to sit on the board of directors of two or more corporations if the corporations compete in the same market(s)?

Accepted Answer

A)  The Keating-Owen Act 
B)  The Robinson-Patman Act 
C)  The Clayton Act 
D)  The Sherman Antitrust Act 
A)  The Keating-Owen Act 
B)  The Robinson-Patman Act 
C)  The Clayton Act 
D)  The Sherman Antitrust Act

Which of the following is true regarding the FDA?

Critics of consumerism believe that:

The _ has oversight of deceptive marketing,but if the fraud involves a moving van the _ takes jurisdiction.

The Federal Trade Commission (FTC)has broad duties to:

What are some of the general complaints against consumerism?

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

In 2009,Congress gave the FDA power to:

The law of _____ addresses the issue of private wrongs committed by one person against another person or his/her property.

The president nominates two out of the five commissioners of the Federal Trade Commission.

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

A warranty is a contract in which the seller guarantees the nature of the product.

Explain the concepts of negligence,caveat emptor,and privity.

Which of the following agencies acts against housing and loan discrimination?

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

What is meant by director interlock?

In 2009,Congress gave the Food and Drug Administration the power to regulate cigarettes and smokeless tobacco.

According to historian Gary Cross,consumerism expresses a less powerful worldview than political ideologies.

What does materialism mean?

Which of the following is true regarding the Federal Trade Commission (FTC)?

Which of the following acts made it illegal for an individual to sit on the board of directors of two or more corporations if the corporations compete in the same market(s)?

The Study of Business, Government, and Society

The Dynamic Environment

Business Power

Critics of Business

Corporate Social Responsibility

Implementing Corporate Social Responsibility

Business Ethics

Making Ethical Decisions in Business

Business in Politics

Regulating Business

Multinational Corporations

Globalization, Trade, and Corruption

Industrial Pollution and Environmental Regulation

Managing Environmental Quality

The Changing Workplace

Civil Rights, Women, and Diversity

Corporate Governance

Filters

Exam 15: Consumerism

Which of the following is true regarding the FDA?

Critics of consumerism believe that:

The _____ has oversight of deceptive marketing,but if the fraud involves a moving van the _____ takes jurisdiction.

The Federal Trade Commission (FTC)has broad duties to:

What are some of the general complaints against consumerism?

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

In 2009,Congress gave the FDA power to:

The law of _____ addresses the issue of private wrongs committed by one person against another person or his/her property.

The president nominates two out of the five commissioners of the Federal Trade Commission.

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

A warranty is a contract in which the seller guarantees the nature of the product.

Explain the concepts of negligence,caveat emptor,and privity.

Which of the following agencies acts against housing and loan discrimination?

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

What is meant by director interlock?

In 2009,Congress gave the Food and Drug Administration the power to regulate cigarettes and smokeless tobacco.

According to historian Gary Cross,consumerism expresses a less powerful worldview than political ideologies.

What does materialism mean?

Which of the following is true regarding the Federal Trade Commission (FTC)?

Which of the following acts made it illegal for an individual to sit on the board of directors of two or more corporations if the corporations compete in the same market(s)?

The Study of Business, Government, and Society

The Dynamic Environment

Business Power

Critics of Business

Corporate Social Responsibility

Implementing Corporate Social Responsibility

Business Ethics

Making Ethical Decisions in Business

Business in Politics

Regulating Business

Multinational Corporations

Globalization, Trade, and Corruption

Industrial Pollution and Environmental Regulation

Managing Environmental Quality

The Changing Workplace

Civil Rights, Women, and Diversity

Corporate Governance

Filters

The _ has oversight of deceptive marketing,but if the fraud involves a moving van the _ takes jurisdiction.