Supreme Court justices are appointed by the Senate.
The Internet is increasing national boundaries.
Internet users in the United States pay a fee to Internet service providers for the type
and level of service they desire.
Vertical restraints are those arising from an agreement among competitors.
The Constitution protects citizens from purely private concentrations of power, such as
large corporations.
United States antitrust laws cannot be applied to foreign corporations doing business in
the United States.
Which of the following is a disadvantage of mergers?
A. Mergers hinder economies of scale.
B. Mergers may contribute to management inefficiencies.
C. Mergers may lead to higher prices.
D. Growth by merger is often more expensive than internal growth.
Which of the following is a risk associated with the outcome of whistle blowing?
A. Poor legal protection
B. Instigation of benchmarking
C. Liquidation of the company’s assets
D. Fear of retribution
Which of the following statements symbolizes the idea of a feminine “voice” in view of
morality?
A. Women give high priority to “rights” when making a decision.
B. Women approach morality as a function of justice and impartiality.
C. Women consider relationships and the needs of others.
D. Women give the highest priority to their own self-interests while making decisions.
Which of the following is a characteristic of the Equal Pay Act of 1963?
A. According to the act, unequal wage payments are lawful if paid pursuant to a
differential based on any factor other than race.
B. It forbids discrimination on the basis of sex by paying wages to employees of one
sex at a rate less than the rate paid to employees of the opposite sex for equal work.
C. An employer seeking to avoid a violation of the Equal Pay Act can adjust its wage
structure by lowering the wages paid to the favored sex performing equal work.
D. Under the act, unequal wage payments based on a seniority system or a merit system
are unlawful.
Free markets are more efficient decision makers than government rules. Which of the
following is a result of the efficient decisions made by free markets?
A. National boundaries are becoming stronger.
B. Technology is shrinking the globe.
C. Financial assets have stopped flowing freely.
D. The standards of living of less developed countries have decreased.
Identify the category of law that deals with the relationship between government and
the citizens.
A. Public law
B. Administrative law
C. Constitutional law
D. Private law
Which of the following statements is true of a company that adopts the stakeholder
approach?
A. For a company adopting the stakeholder approach, shareholders are the only
stakeholders.
B. For a company adopting the stakeholder approach, profit depends on the interplay
between the corporation, government, and society.
C. For a company adopting the stakeholder approach, profit maximization and earning
short-term profits are the primary goals.
D. For a company adopting the stakeholder approach, the only concern is to fulfill the
categories of economic and legal responsibilities of Carroll’s Social Responsibility
Pyramid.
Which act passed by the Congress in 1932 made it clear that the terminology “restraint
of trade” was not meant to include labor organizations or activities?
A. The Norris-LaGuardia Act
B. The Sherman Antitrust Act
C. The Taft-Hartley Act
D. The Wagner Act
Which of the following is a feature of the federal Employee Retirement Income
Security Act (ERISA)?
A. The annual report needs to be certified internally by the respective employers.
B. It abolishes pensions for employees in certain situations.
C. It abolished all record-keeping requirements for pension plans.
D. It regulates pension funds to help ensure their long-term financial security.
Which of the following statements is true of antitrust violation of intellectual property
rights?
A. The U.S. Supreme Court has ruled that patents should automatically be treated as
monopolies.
B. Abuse of the market power conferred by a patent must be presumed and need not be
proven.
C. The presence of intellectual property rights suppresses innovation and investment.
D. Antitrust violations of intellectual property do not occur unless some competitive
wrong is identified.
Although the law of partnerships originated in the common law, all states except _____
adopted the Uniform Partnership Act.
A. Louisiana
B. Alabama
C. Nevada
D. Wisconsin
Meg, who is on the lookout for a temporary security officer, approaches a security
agency. The agency sends one of its reserve security officers to guard Meg’s
commercial building. Which of the following types of contract does Meg enter into with
the security agency?
A. Bilateral contract
B. Implied-in-fact contract
C. Unilateral contract
D. Quasi contract
In the context of labor union security arrangements, a collective-bargaining clause
requiring all employees to pay union dues and fees is referred to as a(n) _____.
A. runaway shop strategy
B. agency shop agreement
C. right-to-work strategy
D. open-shop agreement
In the civil trial process, in response to a complaint the defendant may file with the
court an initial pleading, called a(n) _____, wherein the defendant enters a denial by
setting out his or her version of the facts and law, or in which the defendant simply
concedes the validity of the plaintiff’s position.
A. jeopardy
B. demurrer
C. interrogatory
D. answer