Business-Government Relations – Flashcards
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1. In December of 2008, Canada authorized emergency loans for automotive companies. A) True B) False
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True
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2. The "Group of 7" met in April 2009 and committed $1.1 dollars to loans in an attempt to stave off a world depression A) True B) False
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False
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3. A cooperative government-business relationship on one issue does not guarantee cooperation on another issue. A) True B) False
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True
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4. Public policy is a plan of action undertaken by business to influence the government. A) True B) False
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False
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5. Public Policy Inputs are external pressures which shape governmental policy decisions and strategies to address problems. A) True B) False
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True
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6. Governments use public policy tools to achieve public policy goals. A) True B) False
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True
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7. Monetary policies refer to policies that affect the supply, demand and value of the nation's currency. A) True B) False
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True
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8. A national health care policy is an example of an economic policy. A) True B) False
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True
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9. Economic regulations aim at modifying the normal operations of the free market and the forces of supply and demand. A) True B) False
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True
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10. An example of a market failure is when a company fails to incorporate the cost of a side effect which is borne by someone else. A) True B) False
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True
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11. A negative externality is the same as a spillover affect. A) True B) False
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True
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12. Natural monopolies generally occur because of heavy initial government regulation A) True B) False
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False
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13. The oldest regulations generally deal with safety in the workplace. A) True B) False
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False
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14. BATF is generally considered to deal with social regulation, not economic regulation. A) True B) False
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False
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15. According to blogger Michael Hodges, we spend almost $5,000 per person annually in regulatory costs in the United States. A) True B) False
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True
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16. Which of the following is not a public good? A) police protection. B) homeland security. C) public libraries. D) police protection.
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public libraries.
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17. Who described public policy as what government chooses to do or not to do: A) Bill Clinton. B) George Bush. C) Sam Walton. D) Patrick Moynahan.
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Patrick Moynahan.
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18. Government: A) Tends to cooperate with business. B) Tends to be in conflict with business. C) Sometimes cooperates and sometimes is in conflict with business. D) Tends to be controlled by business.
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Sometimes cooperates and sometimes is in conflict with business.
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19. Cooperation between business and government often occurs when: A) They encounter a common problem or enemy. B) Business can afford it. C) Business is required by law to cooperate. D) Government has the support of the people.
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They encounter a common problem or enemy.
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20. An example of an illegitimate government can be seen in: A) Burma. B) Russia. C) The United States. D) Spain.
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Burma
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21. Public policy is a basic set of goals, plans and actions undertaken by: A) Political lobbyists. B) A government. C) Business advocacy groups. D) Police and fire departments.
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A government
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22. Which of the following is NOT an example of a public policy input: A) Foreign policy concerns. B) Media attention. C) Economic pressures. D) All are examples of public policy inputs.
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All are examples of public policy inputs
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23. Public policy tools involve a combination of: A) Incentives and political favors. B) Penalties and prison terms. C) Incentives and penalties. D) Political favors and prison terms.
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Incentives and penalties
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24. Public policy effects are: A) Invariably please more people than they displease. B) generally easy to predict. C) Only know ten years after the public policy is enacted. D) Sometimes intended and sometimes unintended.
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Sometimes intended and sometimes unintended
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25. Economic policies include: A) Fiscal and monetary policies. B) Monetary and social assistance policies. C) Fiscal and social assistance policies. D) Policies initiated by the Federal Reserve System.
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Fiscal and monetary policies.
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26. Which of the following is NOT considered an economic policy: A) Trade policy. B) Taxation policy. C) Industrial policy. D) All of the above are considered economic policies.
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All of the above are considered economic policies.
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27. The primary way of accomplishing public policy is through: A) Wait for businesses to act. B) Lobbying Congress. C) Regulation. D) Writing your politician.
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Regulation.
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28. A spillover effect is also known as: A) Negative externality. B) Unplanned cost. C) Unintended cost. D) All of the above.
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Negative externality.
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29. Which of the following is not a natural monopoly: A) The NFL. B) Railroads. C) Software. D) Cable tv.
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The NFL.
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30. Which of the following is NOT an example of a social regulatory agency? A) Consumer Product Safety Commission. B) The Environmental Protection Agency. C) National Highway Traffic Safety Administration. D) National Labor Relations Board.
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National Labor Relations Board.
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31. FRB is an abbreviation for what regulatory agency? A) Federal Reserve Board. B) Fiscal Responsibility Bureau. C) Federal Recycling Bureau. D) Foreign Relations Board.
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Federal Reserve Board.
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32. A regulatory agency charged with enforcing social regulation: A) Federal Trade Commission. B) Federal Aviation Administration. C) Federal Communications Commission. D) Internal Revenue Service.
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Federal Trade Commission.
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33. Total social regulation costs are: 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.
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Slightly less than total economic regulation costs.
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34. Since the 1980s, staffing for regulation enforcement has: A) Slightly increased. B) Slightly decreased. C) Dramatically increased. D) Been about the same.
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Been about the same.
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35. Deregulation is often: A) A politically popular idea. B) A politically unpopular idea. C) Seen during a Democratic federal administration. D) Found in European countries but not in the United States.
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A politically popular idea.
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36. Reregulation is: 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.
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The increase or expansion of government regulation.
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37. Deregulation has NOT occurred in which industry: A) Commercial airlines. B) Railroads. C) Electronics. D) Financial institutions.
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Electronics.
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38. Deregulation in Europe usually occurs in the area of: A) Social Regulation. B) Fiscal Regulation. C) Health Care Regulation. D) Economic Regulation.
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Social Regulation.
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39. As of 2009, what percentage of Americans smoked: A) 8%. B) 15%. C) 20%. D) 26%.
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20%.
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40. In what year did the U.S. Surgeon General declare cigarettes a health hazard: A) 1959. B) 1964. C) 1973. D) 1979.
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1964
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41. Who was the leading Senate Sponsor of the Family Smoking Prevention and Tobacco Control Act. A) Ted Kennedy. B) Charles Grassley. C) Barack Obama. D) Barbara Mikulski.
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Ted Kennedy
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41. Who was the leading Senate Sponsor of the Family Smoking Prevention and Tobacco Control Act. A) Ted Kennedy. B) Charles Grassley. C) Barack Obama. D) Barbara Mikulski.
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Ted Kennedy
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41. Who was the leading Senate Sponsor of the Family Smoking Prevention and Tobacco Control Act. A) Ted Kennedy. B) Charles Grassley. C) Barack Obama. D) Barbara Mikulski.
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Ted Kennedy
