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29 Cards in this Set
- Front
- Back
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Should business be involved in politics?
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Traditional ideology types tend to say no, while managerial types tend to say yes.
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What are some of the reasons given for government regulation of business?
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There are economic and social reasons. Historically, the reasons were mostly economic, but since the 1960s they have been largely social (trying to make a better country and world - i.e. "the Great Society"). Economic reasons, according to the text are: destructive competition, natural monopolies, inadequate disclosure of information, and "negative" externalities (i.e. pollution). |
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What are the two major "waves" of government regulation of business in the U.S.?
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The first major wave occurred in the Great Depression (FDR's "New Deal"). The second was "social activism period" from roughly 1963 (LBJ) to 1977 (President Carter). |
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Is it correct to consider them waves?
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Waves go up and then crash back down. Most of the waves talked about above never go down, they tend to get bigger and bigger.
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What are the two leading approaches to business involvement in the legal/political environment?
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The proactive and reactive approaches. The managerial ideology tends to advocate the proactive approach (active involvement), while the traditional generally takes the reactive approach (wait for something to happen and then fight it). |
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What is a political action committee?
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Refers to two distinct types of political committees registered with the FEC: separate segregated funds (SSFs) and nonconnected committees. SSFs are political committees established and administered by corporations, labor unions, membership organizations or trade associations. These committees can only solicit contributions from individuals associated with connected or sponsoring organization. By contrast, nonconnected committees--as their name suggests--are not sponsored by or connected to any of the aforementioned entities and are free to solicit contributions from the general public. |
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What is lobbying and what are the 2 main types:
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Lobbying is trying to influence political leaders. There is direct lobbying, where lobbyists or other concerned citizens contact the politicians directly to "redress their grievances," and "grassroots lobbying," where they can't get a satisfactory response from the politician, so they go directly to the voters to try to get them to influence the politician. |
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What is Amendment I in the Constitution?
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Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.
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Federal system refers to a government: A) in which power is controlled by the central government. B) in which powers are divided between a central government and subdivision governments. C) in which the central government has delegated some of its powers to self-governing subsidiary governments. D) which allows regions extensive powers, but the central government reserves the right to withdraw those powers at will. |
B) in which powers are divided between a central government and subdivision governments.
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Under this system, the Constitution allows the legislature, executive, and the judiciary considerable independence and also gives each of them the power to check and balance the others. A) fusion of powers B) Judicial supremacy C) Judicial review D) Separation of powers |
D) Separation of powers
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Which of the following Constitutional amendments protects the right of businesses to organize and press their agenda on the government? A) The First Amendment B) The Second Amendment C) The Fifth Amendment D) The Eighth Amendment |
A) The First Amendment
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Which of the following statements about the Anti-Saloon League is false? A) It was a strong national adversary of business. B) Brewers and distillers were the only adversaries of the League. C) It advocated the prohibition of alcohol. D) Big corporations worked against it because they opposed the onset of more government regulation. |
B) Brewers and distillers were the only adversaries of the League.
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Which of the following amendments to the U.S. Constitution gave women the right to vote? A) The Fifth Amendment B) The Twelfth Amendment C) The Nineteenth Amendment D) The Second Amendment |
C) The Nineteenth Amendment
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A group that represents the political interests of many companies and industries is known as a: A) business association. B) sector association. C) peak association. D) trade association. |
C) peak association.
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Which of the following statements about lobbying is true? A) It is a combination of business interests united to pursue a political goal. B) It is a process of advocating a position to the government. C) The word carries positive connotations with business lobbyists pursuing public interests. D) It is only a political art which does not help the government in any manner. |
B) It is a process of advocating a position to the government.
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Lobbyists indulge in _____ lobbying when they cultivate friendly relationships with lawmakers, officials, and staffs rather than presenting a direct case. A) grassroots B) public C) contact D) background |
D) background
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A(n) _____ advocacy presents a political view or comment on an electoral race. A) express B) ideological C) issue D) bureaucratic |
C) issue
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501(c) groups: A) are required to report political expenditures to the Federal Election Commission. B) are allowed to engage in political activity so long as that is not their primary purpose. C) are not required to obey election laws. D) raise unlimited amounts of hard money that can be contributed to candidates, political committees, and political parties. |
B) are allowed to engage in political activity so long as that is not their primary purpose.
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When one company can supply the entire market for a product at a lower cost than a combination of smaller firms, the company is said to be experiencing a(n): A) positive externality. B) inventory accumulation. C) monopolistic competition. D) natural monopoly. |
D) natural monopoly.
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When a factory dumps toxic waste into a river and the community pays to clean up the mess, the community is said to bearing a(n): A) internal diseconomy. B) externality. C) internal economy. D) natural monopoly. |
B) externality.
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The part of the U.S. Constitution that gives the federal government the right to regulate business is called the: A) Contract Clause. B) Establishment clause. C) Commerce Clause. D) Vesting Clause. |
C) Commerce Clause.
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The independent regulatory commission is a regulatory agency: A) run by a small group of commissioners free of political control. B) in the executive branch run by a single administrator. C) that administers the Troubled Asset Relief Program. D) that has to pass a bill containing regulatory authority before it can become a law. |
A) run by a small group of commissioners free of political control.
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During Wave 4, the voluminous buildup of regulations to achieve social objectives existed simultaneously with a _____ movement that focused on removing or streamlining older economic regulations. A) deregulation B) privatization C) globalization D) liberalization |
A) deregulation
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The Troubled Asset Relief Program: A) is responsible for regulating and securing all federally insured credit unions in the United States. B) gives federal regulators power to exchange funds for an ownership interest in banks and corporations. C) is designed to provide liquidity for purported "toxic-assets" on the balance sheets of financial institutions. D) is administered by the Office of Government Financial Policy, in the Treasury Department. |
B) gives federal regulators power to exchange funds for an ownership interest in banks and corporations.
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_____ refers to a government activity that guides the behavior of citizens, groups, and corporations to reach economic or social goals. A) Autarky B) Regulation C) National treatment D) Liberalization |
B) Regulation
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This is a decree issued by an agency to implement a law passed by Congress. A) Rule B) Guideline C) Veto D) Stratagem |
A) Rule
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When the draft of a proposed rule is completed, it must be published in the: A) United States Reports. B) Official Congressional Directory. C) Federal Register. D) Code of Federal Regulations. |
C) Federal Register.
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Guidance is: A) intended to clarify government regulations. B) legally binding. C) issued only by the Congress. D) incapable of changing existing rules. |
A) intended to clarify government regulations.
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