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Government Regulation of Business Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. Which of the following is an example of competitive analysis research?

Question 2 2. On Indian Reservations, what act would prohibit Native Americans from hunting bald eagles?

Question 3 3. Which of the following is NOT an example of economic regulation?

Question 4 4. Why was environmentalism established?

Question 5 5. Which of the following is NOT a cost of regulation in business?

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Question 6 6. Brian bought a watch from a vendor on a New York street. He thought it was a great deal. It's gold and looks like a Rolex, but when he got it home and looked at it very closely he realized the face of the watch actually reads 'Rolek'. Which type of unfair competition is this?

Question 7 7. What occurs in the process of cross subsidization?

Question 8 8. Which regulatory agency fights to protect the environment and remediate areas contaminated by companies?

Question 9 9. The EPA pushed forward new legislation called the Clean Power Plan. This legislation focused on cutting carbon emissions to ensure healthier air and reducing the amount of climate change. This will lead to what kind of regulatory benefit?

Question 10 10. Which of the following is not a step in a regulatory impact analysis?

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Question 11 11. What is the purpose of an Environmental Impact Statement (EIS)?

Question 12 12. Which of the following is NOT a benefit of regulation in business?

Question 13 13. A fruit company recently had to recall products that were possibly contaminated with Listeria, a bacteria that can cause sickness or death when consumed. Which agency would be responsible for this recall?

Question 14 14. Which step of regulatory impact analysis explains what the environment's condition would be if a new regulation is not passed?

Question 15 15. What is the process that the government uses to create regulations?

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Question 16 16. Darren developed a complicated process that helps him speed the growth of tomatoes at his nursery. A neighboring nursery copied his idea and is trying to patent it. Which type of unfair competition is this?

Question 17 17. Identify which of the following is NOT within the jurisdiction of the Food and Drug Administration:

Question 18 18. What is the function of the Federal Register?

Question 19 19. What year was the Sarbanes-Oxley Act enacted?

Question 20 20. Which of the following is FALSE about OSHA?

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Question 21 21. A company focused on increasing revenue has lowered worker salaries, stopped distributing haz-mat suits to employees who work in dangerous conditions, and fired all workers who failed to meet a minimum production quota. Why would the Occupational Safety and Health Administration be interested in this situation?

Question 22 22. Which act regulates hazardous waste?

Question 23 23. How long does the public have to comment on a proposed regulation?

Question 24 24. The government is suffering from a high debt. In order to decrease its responsibilities, it will allow private businesses to manage the highways, while requiring them to pay for road maintenance. Why is this an example of privatization?

Question 25 25. Maria answered an ad offering two tickets to a movie for just $10. When she went to the box office to buy the tickets, she was told those were matinee tickets and were sold out. She was offered only evening tickets for $10 each. Why is this an example of bait and switch?

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Question 26 26. The government has recently passed new laws regarding lead paint and its removal. Windows Galore is a window company that often replaces windows on older homes that may contain lead. What costs might Windows Galore incur because of this regulation?

Question 27 27. What organization was set up to develop rules and guidelines for how companies should manage problems and issues as they arise within the organization?

Question 28 28. Todd is the Operations Manager for Quality Granite. He cares for the company and the employees and wants to comply with OSHA safety regulations. What must Todd do to be in compliance?

Question 29 29. Which of the following refers to controlling and managing an industry through laws?

Question 30 30. Identify which of the following is within the jurisdiction of the Consumer Product Safety Commission:

Government Regulation of Business Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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