1. In December of 2008, Canada authorized emergency loans for automotive companies.
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
3. A cooperative government-business relationship on one issue does not guarantee cooperation on another issue.
4. Public policy is a plan of action undertaken by business to influence the government.
5. Public Policy Inputs are external pressures which shape governmental policy decisions and strategies to address problems.
6. Governments use public policy tools to achieve public policy goals.
7. Monetary policies refer to policies that affect the supply, demand and value of the nation’s currency.
8. A national health care policy is an example of an economic policy.
9. Economic regulations aim at modifying the normal operations of the free market and the forces of supply and demand.
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.
11. A negative externality is the same as a spillover affect.
12. Natural monopolies generally occur because of heavy initial government regulation
13. The oldest regulations generally deal with safety in the workplace.
14. BATF is generally considered to deal with social regulation, not economic regulation.
15. According to blogger Michael Hodges, we spend almost $5,000 per person annually in regulatory costs in the United States.
16. Which of the following is not a public good?
A) police protection.
B) homeland security.
C) public libraries.
D) police protection.
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.
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.
Sometimes cooperates and sometimes is in conflict with business.
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.
They encounter a common problem or enemy.
20. An example of an illegitimate government can be seen in:
C) The United States.
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.
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.
All are examples of public policy inputs
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.
Incentives and penalties
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.
Sometimes intended and sometimes unintended
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.
Fiscal and monetary policies.
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.
All of the above are considered economic policies.
27. The primary way of accomplishing public policy is through:
A) Wait for businesses to act.
B) Lobbying Congress.
D) Writing your politician.
28. A spillover effect is also known as:
A) Negative externality.
B) Unplanned cost.
C) Unintended cost.
D) All of the above.
29. Which of the following is not a natural monopoly:
A) The NFL.
D) Cable tv.
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.
National Labor Relations Board.
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.
Federal Reserve Board.
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.
Federal Trade Commission.
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.
Slightly less than total economic regulation costs.
34. Since the 1980s, staffing for regulation enforcement has:
A) Slightly increased.
B) Slightly decreased.
C) Dramatically increased.
D) Been about the same.
Been about the same.
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.
A politically popular idea.
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.
The increase or expansion of government regulation.
37. Deregulation has NOT occurred in which industry:
A) Commercial airlines.
D) Financial institutions.
38. Deregulation in Europe usually occurs in the area of:
A) Social Regulation.
B) Fiscal Regulation.
C) Health Care Regulation.
D) Economic Regulation.
39. As of 2009, what percentage of Americans smoked:
40. In what year did the U.S. Surgeon General declare cigarettes a health hazard:
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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