Question 1

When the Department of Agriculture sets standards for and inspects foods entering the production process,it is:

Accepted Answer

A)  regulating socially desirable goods and services. 
B)  resolving national and global problems. 
C)  regulating to protect special interests. 
D)  regulating socially desirable production methods. 
A)  regulating socially desirable goods and services. 
B)  resolving national and global problems. 
C)  regulating to protect special interests. 
D)  regulating socially desirable production methods.

Question 2

Which part of the U.S.Constitution gives the federal government the right to regulate business?

Accepted Answer

A)  Article I 
B)  Article III 
C)  Article V 
D)  Article VI 
A)  Article I 
B)  Article III 
C)  Article V 
D)  Article VI

Question 3

The independent regulatory commission is a regulatory agency run by a small group of commissioners independent of political control.

Accepted Answer

A) True 
 B)False

Question 4

The Interstate Commerce Commission requires each agency to set up an adjudication process leading to trial before an administrative law judge.

Accepted Answer

A) True 
 B)False

Question 5

Regulation of railroads,banks,and natural resources are examples of the government:

Accepted Answer

A)  passing regulations to benefit special interests. 
B)  regulating socially desirable goods and services. 
C)  regulating socially desirable production methods. 
D)  passing resolutions of national and global problems. 
A)  passing regulations to benefit special interests. 
B)  regulating socially desirable goods and services. 
C)  regulating socially desirable production methods. 
D)  passing resolutions of national and global problems.

Question 6

Which of the following statements is true about rulemaking in the U.S.regulatory process?

Accepted Answer

A)  Proposed rules are sent by independent regulatory agencies to the Office of Information and Regulatory Affairs. 
B)  Publication of a proposed rule opens a period,usually 60 to 90 days,during which the public can comment to the agency. 
C)  Rulemaking for lesser regulations to be completed often takes years. 
D)  An OIRA staff of about 50 scrutinizes a proposed rule to see if it is really needed. 
A)  Proposed rules are sent by independent regulatory agencies to the Office of Information and Regulatory Affairs. 
B)  Publication of a proposed rule opens a period,usually 60 to 90 days,during which the public can comment to the agency. 
C)  Rulemaking for lesser regulations to be completed often takes years. 
D)  An OIRA staff of about 50 scrutinizes a proposed rule to see if it is really needed.

Question 7

Congress not only passes and amends laws but also approves presidential nominees as head regulators and makes appropriations to agencies.

Accepted Answer

A) True 
 B)False

Question 8

How is the cost of regulation calculated?

Accepted Answer

The cost of regulation can be characteri

Question 9

Which of the following is true about guidance?

Accepted Answer

A)  It is legally binding. 
B)  It is issued exclusively by Congress. 
C)  It is intended to clarify official regulations. 
D)  It does not affect existing rules. 
A)  It is legally binding. 
B)  It is issued exclusively by Congress. 
C)  It is intended to clarify official regulations. 
D)  It does not affect existing rules.

Question 10

The removal or substantial reduction of the body of regulation covering an industry is known as deregulation.

Accepted Answer

A) True 
 B)False

Question 11

Define the Commerce Clause.

Accepted Answer

The Commerce Clause is a clause in Artic

Question 12

When a factory dumps toxic waste into a river and pollutes the river,the costs borne by society in order to clean up the mess is called a(n):

Accepted Answer

A)  externality. 
B)  internal diseconomy. 
C)  internal economy. 
D)  natural monopoly. 
A)  externality. 
B)  internal diseconomy. 
C)  internal economy. 
D)  natural monopoly.

Question 13

In 1914,Congress set up a second independent regulatory commission,the ____,to prohibit unfair means of competition.

Accepted Answer

A)  Interstate Commerce Commission 
B)  United States Consumer Product Safety Commission 
C)  U.S.Commission on Civil Rights 
D)  Federal Trade Commission 
A)  Interstate Commerce Commission 
B)  United States Consumer Product Safety Commission 
C)  U.S.Commission on Civil Rights 
D)  Federal Trade Commission

Question 14

The Code of Federal Regulations is a daily government publication containing proposed rules,final rules,and notice of other actions by federal regulatory agencies.

Accepted Answer

A) True 
 B)False

Question 15

Measuring the benefits of federal regulation is easier than calculating the costs of these regulations.

Accepted Answer

A) True 
 B)False

Question 16

When ready,rules in their final wording are printed in the:

Accepted Answer

A)  Federal Register. 
B)  Code of Federal Regulations. 
C)  Official Congressional Directory. 
D)  United States Reports. 
A)  Federal Register. 
B)  Code of Federal Regulations. 
C)  Official Congressional Directory. 
D)  United States Reports.

Question 17

What is deregulation?

Accepted Answer

The process of removing or sub

Question 18

Explain the term "natural monopoly."

Accepted Answer

When a firm supplies the entir

Question 19

The first independent regulatory commission that was set up by the Congress to regulate the railroads was the:

Accepted Answer

A)  Public Utilities Commission. 
B)  Interstate Commerce Commission. 
C)  Public Service Commission. 
D)  Railroad Revitalization Commission. 
A)  Public Utilities Commission. 
B)  Interstate Commerce Commission. 
C)  Public Service Commission. 
D)  Railroad Revitalization Commission.

Question 20

The first wave of regulation:

Accepted Answer

A)  oversaw the set up of independent regulatory commissions. 
B)  was not predominately promotional for business. 
C)  allowed the government to give vast financial subsidies and grants to private interests. 
D)  eliminated tariffs to protect infant industries. 
A)  oversaw the set up of independent regulatory commissions. 
B)  was not predominately promotional for business. 
C)  allowed the government to give vast financial subsidies and grants to private interests. 
D)  eliminated tariffs to protect infant industries.

When the Department of Agriculture sets standards for and inspects foods entering the production process,it is:

Which part of the U.S.Constitution gives the federal government the right to regulate business?

The independent regulatory commission is a regulatory agency run by a small group of commissioners independent of political control.

The Interstate Commerce Commission requires each agency to set up an adjudication process leading to trial before an administrative law judge.

Regulation of railroads,banks,and natural resources are examples of the government:

Which of the following statements is true about rulemaking in the U.S.regulatory process?

Congress not only passes and amends laws but also approves presidential nominees as head regulators and makes appropriations to agencies.

How is the cost of regulation calculated?

Which of the following is true about guidance?

The removal or substantial reduction of the body of regulation covering an industry is known as deregulation.

Define the Commerce Clause.

When a factory dumps toxic waste into a river and pollutes the river,the costs borne by society in order to clean up the mess is called a(n):

In 1914,Congress set up a second independent regulatory commission,the ____,to prohibit unfair means of competition.

The Code of Federal Regulations is a daily government publication containing proposed rules,final rules,and notice of other actions by federal regulatory agencies.

Measuring the benefits of federal regulation is easier than calculating the costs of these regulations.

When ready,rules in their final wording are printed in the:

What is deregulation?

Explain the term "natural monopoly."

The first independent regulatory commission that was set up by the Congress to regulate the railroads was the:

The first wave of regulation:

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

Multinational Corporations

Globalization, Trade, and Corruption

Industrial Pollution and Environmental Regulation

Managing Environmental Quality

Consumerism

The Changing Workplace

Civil Rights, Women, and Diversity

Corporate Governance

Filters

Exam 10: Regulating Business

When the Department of Agriculture sets standards for and inspects foods entering the production process,it is:

Which part of the U.S.Constitution gives the federal government the right to regulate business?

The independent regulatory commission is a regulatory agency run by a small group of commissioners independent of political control.

The Interstate Commerce Commission requires each agency to set up an adjudication process leading to trial before an administrative law judge.

Regulation of railroads,banks,and natural resources are examples of the government:

Which of the following statements is true about rulemaking in the U.S.regulatory process?

Congress not only passes and amends laws but also approves presidential nominees as head regulators and makes appropriations to agencies.

How is the cost of regulation calculated?

Which of the following is true about guidance?

The removal or substantial reduction of the body of regulation covering an industry is known as deregulation.

Define the Commerce Clause.

When a factory dumps toxic waste into a river and pollutes the river,the costs borne by society in order to clean up the mess is called a(n):

In 1914,Congress set up a second independent regulatory commission,the ____,to prohibit unfair means of competition.

The Code of Federal Regulations is a daily government publication containing proposed rules,final rules,and notice of other actions by federal regulatory agencies.

Measuring the benefits of federal regulation is easier than calculating the costs of these regulations.

When ready,rules in their final wording are printed in the:

What is deregulation?

Explain the term "natural monopoly."

The first independent regulatory commission that was set up by the Congress to regulate the railroads was the:

The first wave of regulation:

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

Multinational Corporations

Globalization, Trade, and Corruption

Industrial Pollution and Environmental Regulation

Managing Environmental Quality

Consumerism

The Changing Workplace

Civil Rights, Women, and Diversity

Corporate Governance

Filters