Congressional authority is formally limited to certain enumerated powers.
The Sherman Act applies to the conduct of American business abroad when that
business has a direct effect on American commerce.
Market share, by itself, can establish monopoly power.
Countries that impose regulatory requirements on multinational enterprises may, in any
given circumstance, be viewed with approval or be accused of “regulatory imperialism”
or be charged with domestic protectionism.
What are the four forms of invasion of privacy?
Victims of negligence in a product liability case can bring actions against all careless
parties in the chain of production and distribution.
The U.S. Export Administration Act of 1979 permits restrictions on goods and
technology where exportation would harm national security.
A bona fide seniority system that perpetuates past wrongs is illegal only if
discriminatory intent is proven.
An effective offer must be the product of a present intent, it must be definite, and it
must be communicated to the offeree.
Price discrimination involves selling substantially identical goods at reasonably
contemporaneous times to different purchasers at different prices.
In general, the creditors of a corporation cannot reach the personal assets of the
shareholders to satisfy the corporation’s obligations.
A merger involves the union of two or more enterprises wherein the property of all is
transferred to the one remaining firm.
Unilateral offers are not accepted by performance.
According to Frederich von Hayek, law that secures _____ rights in modern society is a
prerequisite to private enterprise.
A. personal
B. property
C. private
D. perpetual
Taking medication or using a prosthetic device to overcome an impairment excludes an
individual from protection under the Americans with Disabilities Act (ADA).
In the context of federalism, which of the following views was held by the Southerners?
A. They held that the federal government had often exercised authority beyond its
express constitutional powers.
B. They held that each state was entitled to make its own policy decisions about crucial
matters such as slavery.
C. They distrusted big government and favored that power be brought closer to the
people.
D. They favored a more unified national approach to issues such as regulation of
business, educational policy, medical care, and civil rights.
The practice of union organizers applying for jobs with the intent of unionizing the
other employees from the inside is referred to as _____.
A. salting
B. picketing
C. crowdsourcing
D. whistleblowing
Which of the following statements describes the formalistic view of ethics?
A. A decision that maximizes the ratio of good over evil for all those concerned is the
ethical course.
B. The rightness of an act depends little on the results of the act.
C. The moral person renders ethical decisions based on the consequences of the
decision.
D. The moral person may be forced to shun a particular act that would result in greater
immediate good.
The principal defense against a Section 11 claim is _____.
A. proxy access
B. disgorgement
C. due diligence
D. broker voting
Which of the following statements is true about advertising in schools?
A. It is likely to discourage critical thinking.
B. It is likely to discourage materialism.
C. It is likely to celebrate reliable values.
D. It is likely to advocate criminal behavior.
The _____ is the United States’ largest trading partner, and vice versa.
A. European Union
B. African Union
C. United Arab Emirates
D. United Kingdom
Which of the following is a management’s takeover defense strategy that gives current
shareholders a tender offer-triggered right to buy additional stock at a discount, thus
diluting the hostile bidder’s shares?
A. Golden parachute
B. Greenmail
C. Poison pill defense
D. Crown jewel defense
Philip worked as a senior manager at Soft Techvo Inc., a software company in
Minnesota, for over 25 years. At the age of 53, Philip was denied a promotion because
the company decided he was too old for the next-level job position. The new position
was later filled by a younger employee whom Philip had previously supervised. Under
the Age Discrimination in Employment Act (ADEA), Philip should file a:
A. lawsuit against his employer for taking affirmative action.
B. disability discrimination claim against his employer.
C. disparate treatment claim against his employer.
D. retaliation claim against his employer for denying him a promotion.
_____ refers to the severance pay packages the target’s officers may have negotiated to
protect themselves in the event of a takeover.
A. Greenmail
B. Golden parachutes
C. Crown jewels
D. Poison pill
_____ offers a “foreign law defense” under which an employer would not be required to
comply with Title VII of the Civil Rights Act of 1964 if to do so would violate a host
country’s law.
A. The Foreign Assistance Act
B. The Fair Labor Standards Act
C. The Civil Rights Act of 1866
D. The Civil Rights Act of 1991
Which of the following statements is true of the sole proprietorship form of business
organization?
A. Legal filings are required to establish a sole proprietorship.
B. A sole proprietorship is a separate legal entity.
C. The owner of a sole proprietorship is not personally liable for all obligations of the
business.
D. A sole proprietorship is not a taxable entity.
Which of the following is a primary fear associated with the Consumer Financial
Protection Bureau’s role in the finance market?
A. Increased government regulation is likely to reduce the availability of credit.
B. Increased government regulation is likely to reduce the cost of credit.
C. Increased government interference will increase the money supply in the market.
D. Increased government interference will increase consumer spending.
Of the six universal stages of moral development identified by Kohlberg, which of the
following traits is a manager most likely to display if he were at stage three of the
conventional level?
A. Obey rules to avoid punishment.
B. Conform to secure rewards.
C. Adhere to stereotypical images.
D. Follow rules only if it is in his or her own interest.
Which of the following is a highly controversial 5-4 ruling by the U.S. Supreme Court
in the 2010 Citizens United case?
A. It allowed corporations to coordinate organizational fund spending with parties or
candidates.
B. It held that limiting organizational funds for candidates standing for elections is
unlawful.
C. It allowed corporations to lawfully donate corporate funds to parties.
D. It held that limiting corporate campaign contributions violated corporate free speech
rights.
Which of the following data is generally used by the federal government in combination
with evidence of actual behavior to identify anticompetitive situations?
A. Profit margins
B. Patent information
C. Market concentration
D. Credit access
Which of the following statements is true of the Clayton Act?
A. Injured parties cannot sue for injunctive relief under the Clayton Act.
B. The Clayton Act opens participants to criminal penalties in case of any violation of
the act.
C. The Clayton Act does not provide for criminal law remedies.
D. The Clayton Act facilitates tying arrangements.
Liam has been recently diagnosed with bipolar disorder, and thus his productivity levels
vary drastically. Liam can be terminated from his current job as the Americans with
Disabilities Act (ADA) does not cover psychological disorders.
The historic rule that any contribution by the plaintiff to his or her own harm constitutes
a complete bar to recovery is called _____.
A. comparative negligence
B. strict liability
C. contributory negligence
D. statute of limitations