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ECO 450 Week 5 Mid-Term Exam – Strayer
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Chapters 1 Through 7
ECO 450 Week 2 Quiz – Strayer
Chapter 1
Individuals and Government
True/False Questions
1. On average, persons in the United States devote more of their annual budgets to taxes than they do to food.
2. A universally observed function of government is the establishment of property rights.
3. The total share of GDP accounted for by government spending in the United States has declined significantly since 1980.
4. In 1929, the federal government spent more than was spent by state and local governments.
5. Since 1930, the percent of GDP devoted to government expenditures has more than tripled.
6. The costs imposed by government regulations on business firms are included in budget data on government expenditures.
7. Government consumption does not require resources to be reallocated from private to government use.
8. Since 1959, the percent of federal government expenditures devoted to transfers has increased by more than 50 percent.
9. Transfer payments, including Social Security and welfare and medical assistance, account for nearly 60 percent of federal government expenditures.
10. Interest on the federal government’s debt accounts for about 20 percent of federal government expenditure.
11. Federal grants-in-aid to state and local governments finance about 20 percent of annual spending by these governments.
12. The federal government allocates about 10 percent of its budget to Social Security.
13. State and local governments in the United States spend a bit more than one-third of their budgets on education.
14. Sales taxes account for about 22 percent of state and local government revenue in the United States.
15. The federal government obtains about half of its revenue annually from retail sales taxes.
16. State governments do not fund any part of Medicaid.
17. The social compact is an 18th century idea by political theorists.
18. The proportion of revenue received by the federal government from payroll taxes is higher than the proportion of revenue received by state and local governments from payroll taxes.
Multiple Choice Questions
1. The real cost of government goods and services is:
a. money.
b. taxes.
c. the private goods and services foregone.
d. inflation.
2. If the economy is currently operating on a point on the production possibility curve for government goods and services versus private goods and services,
a. an annual increase in government goods and services can be obtained without any sacrifice of annual private goods and services.
b. it will be impossible to increase annual output of government goods and services.
c. a decrease in the annual output of government goods and services will have no effect on the annual output of private goods and services.
d. a decrease in the annual output of government goods and services will allow an increase in annual output of private goods and services.
3. Government goods and services are usually:
a. not rationed by prices.
b. sold in markets.
c. made available to persons according to their willingness and ability to pay.
d. financed by revenue obtained from sales.
4. Taxes:
a. are prices paid for the right to consume government goods and services.
b. are compulsory payments not directly related to the benefits received from government goods and services.
c. never affect economic incentives.
d. are used by private firms to raise revenue.
5. A mixed economy is one in which:
a. there are no markets.
b. government activity accounts for a significant proportion of the value of goods and services produced.
c. there is no government.
d. all goods and services are sold in markets.
6. Government purchases for consumption and investment:
a. are made to acquire resources necessary to producegovernment goods and services.
b. are designed to redistribute purchasing power among citizens.
c. have increased in importance as a percent of federal spending since 1959.
d. do not withdraw resources from private use.
7. Transfer payments by the federal government in the United States account for about:
a. 25 percent of federal government expenditures.
b. 10 percent of federal government expenditures.
c. 40 percent of GDP.
d. 60 percent of federal government expenditures.
8. Total annual expenditures by federal, state, and local governments in the United States in the 1990s accounted for roughly:
a. 20 percent of annual GDP.
b. 30 percentof annual GDP.
c. 50 percentof annual GDP.
d. 75 percent of annual GDP.
9. Federal government expenditures in the United States account for about:
a. 23 percent of annual GDP.
b. 33 percent of annual GDP.
c. 43 percent of annual GDP.
d. 53 percent of annual GDP.
10. About 80 percent of federal receipts are accounted for by:
a. corporate profits taxes.
b. sales taxes.
c. excise taxes.
d. payroll and personal income taxes.
11. If the economy is operating at full employment and using resources efficiently, then an increase in spending for homeland security this year will:
a. require that resources be reallocated to homeland security services without sacrificing any alternative goods and services.
b. be possible if resources are reallocated to homeland security services, but it will also mean that the output of some other goods and services will have to fall.
c. be impossible.
d. be possible only if there is an improvement in technology or more resources made available.
12. Which of the following is an example of a political institution?
a. a market
b. elections with winners determined by majority rule
c. representative government
d. both (b) and (c)
13. Nonmarket rationing means that:
a. those willing to pay can buy as much of a product as they choose.
b. prices are used to sell products.
c. goods and services are not rationed by prices.
d. willingness to pay is not a factor in determining who can enjoy a good or service.
e. both (c) and (d)
14. The U.S. economy is best characterized as a:
a. pure market economy.
b. socialist economy.
c. pure capitalistic, free-enterprise system.
d. mixed economy.
15. State and local government expenditure in the United States accounts for about:
a. 32 percent of GDP.
b. 22 percent of GDP.
c. 12 percent of GDP.
d. 7 percent of GDP.
16. Following the circular flow of a mixed economy, firms receive a flow of dollars from and send goods and services to:
a. Output Markets.
b. Input Markets.
c. Households.
d. Government.
17. Following the circular flow of a mixed economy, which entity or entities distribute resources?
a. Firms only.
b. Input Markets only.
c. Government and Households.
d. Households and Input Markets.
18. When has the U.S. experienced government expenditures in the range of 40% to 50% of GDP?
a. 2000 to 2009.
b. 1950 to 1959.
c. 1940 to 1949.
d. It has never happened.
19. In 2008, which country listed below has the highest percentage of government spending relative to GDP?
a. France.
b. Ireland.
c. Japan.
d. Canada.
20. The old-age dependency ratio is:
a. the proportion of the population that is 60 years or older over the proportion of the population that is less than 60 years of age.
b. the proportion of the population that is 65 years or older over the proportion of the population that is 15 to 64 years of age.
c. the proportion of the population that is 70 years or older over the proportion of the population that is 20 to 69 years of age.
d. the total government expenditure on programs for the elderly over the number of citizens that are 65 years or older.
ECO 450 Week 3 Quiz – Strayer
Chapter 2
Efficiency, Markets, and Government
True/False Questions
1. The normative approach to public finance prescribes certain actions to achieve predetermined criteria.
2. Positive economic analysis is based on underlying value judgments.
3. “The government should abolish tariffs to achieve efficiency” is a normative statement.
4. It is possible for efficiency not to be attained even if all production is carried on without waste.
5. Efficiency is attained when resources are used each year in such a way that no further net gain is possible.
6. The efficient annual output of any given good is attained if that good is made available in amounts up to the point at which the total social benefit of the good equals the total social cost.
7. If the marginal social benefit of smoke detectors exceeds its marginal social cost, then additional net gains are possible from an increased annual smoke detector production.
8. Monopoly power causes losses in efficiency because the marginal social benefit of output exceeds its marginal social cost at the monopoly output.
9. Government regulations that require airlines to serve routes for which the maximum price that passengers are willing to pay for a trip fall short of the minimum price that sellers are willing to accept are likely to cause losses in efficiency.
10. Points lying below a utility possibility curve are efficient.
11. Government programs can achieve efficiency when the gains to gainers from those policies exceed the losses to those who bear the costs.
12. If the marginal social cost of beer production exceeds its marginal social benefit, then more than the efficient about of beer is being produced.
13. Efficient outcomes are often viewed as inequitable.
14. If it is not possible to make someone better off without harming another, then resource allocation is efficient.
15. Compensation criteria are used to argue that changes in resource allocation should be made if the gains to some groups outweigh the losses to others, even though compensation for losses is not actually made.
16. All points on a utility possibility curve are efficient but differ in terms of the distribution of well-being.
17. A tax on a product shifts the demand curve.
18. A government subsidized price for a commodity that is higher than the market driven price results in oversupply relative to the efficient allocation.
19. When comparing the allocation of two goods relative to two consumers with individual utility functions, multiple points of Pareto efficiency can exist.
Multiple Choice Questions
1. Positive economics:
a. makes recommendations designed to achieve certain goals.
b. establishes cause-and-effect relationships between economic variables.
c. is based on value judgments.
d. can never be used to make predictions.
2. If the efficient output of a good is produced each week, then the:
a. marginal social benefit of the good equals its marginal social cost each week.
b. marginal social benefit of the good is at a maximum.
c. total social benefit of the good is at a maximum.
d. total social benefit of the good equals its total social cost.
3. If the marginal social benefit of a good exceeds the marginal social cost at the current monthly output, then:
a. it will be possible to make buyers of the good better off without harming sellers of the good.
b. it will be possible to make sellers of the good better off without harming buyers of the good.
c. either (a) or (b)
d. a reduction in monthly output will be required for efficiency.
4. The marginal social cost of bread exceeds the marginal social benefit at the current weekly output. Therefore,
a. the marginal net benefit of bread is positive.
b. the output of bread is efficient.
c. a reduction in weekly output of bread is necessary to achieve efficiency.
d. an increase in weekly output of bread is necessary to achieve efficiency.
5. The total social benefit of automobiles equals the total social cost at current annual output. Then it follows that:
a. the annual output of automobiles is efficient.
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ECO 550 Week 5 Discussion Question – Strayer New
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Week 5 Discussion
"Market Structures"
Managerial Economist awareness of consequences of Wealth Inequality across different states in U.S., across Canada, and across World. http://www.youtube.com/watch?v=cZ7LzE3u7Bw and Robert Reich trailer of film on the subject http://www.youtube.com/watch?v=YCbAyk8aRxI and this on heathcare "hotspots in the U,S. - the case of Camden NJ https://www.youtube.com/watch?v=0DiwTjeF5AU
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FIN 317 Week 5 Mid Term Exam – Strayer
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Chapters 1 Through 6
CHAPTER 1
INTRODUCTION TO FINANCE FOR ENTREPRENEURS
True-False Questions
1. Entrepreneurs provide the financing to individuals who think, reason, and act to convert ideas into commercial opportunities and create opportunities.
2. Entrepreneurship is the process of changing ideas into commercial opportunities and creating value.
3. An entrepreneur is an individual who thinks, reasons, and acts to convert ideas into commercial opportunities and to create value.
4. Mark Twain once said, “I was always able to see an opportunity before it became one.”
5. Small businesses, those with less than 500 employees, represent over 99 percent of all employers, and account for about one-half of the gross domestic product in the United States.
6. Small and growing enterprises are critical to the U.S. economy; small firms provide 20 to 30 percent of net new jobs.
7. Small high-technology firms are responsible for twice as many product innovations per employee and obtain more patents per sales dollar than large high-technology firms.
8. Phillips and Kirchhoff, using Dun & Bradstreet data, found that 24 percent of new firms were still in existence after two years of operation.
9. Nearly half of business failures are due to economic factors such as inadequate sales, insufficient profits, and industry weakness.
10. Although the risks associated with starting a new entrepreneurial venture are large, there is always room for one more success.
11. Studies by Phillips and Kirchhoff, and by Headd, found that about 38%-40% of new firms survived six years of operation.
12. One study of Inc. magazine’s 500 high-growth firms suggests that about 88 percent of founders feel their firms’ successes are due to extraordinary ideas, while the remaining 12 percent feel their firms’ successes are due to exceptional execution of ordinary ideas.
13. “Fads” are large societal, demographic, or technological trends or changes that are slow in forming but once in place continue for many years.
14. “Fads” are not predictable, have short lives, and do not involve macro changes.
15. Three major megatrends discussed in Chapter 1 include: societal trends or changes, demographic trends or changes, and technological trends or changes.
16. In 1982, Harry Dent identified several major or megatrends shaping U.S. society and the world.
17. The so-called “baby boom” generation applies to people born in the United States during the 1946-1964 time period.
18. Perhaps the most important invention shuttling us from an industrial society to an information society is the computer chip.
19. Environmental commerce, or e-commerce, involves the use of electronic means to conduct business online.
20. The Office of Advocacy of the U.S. Small Business Administration documents that “employer firm births” have exceeded 700,000 annually in recent years.
21. Reasonable estimates place nonemployer (e.g., single person or small family) business started each year at less than 100,000.
22. Bill Gates once said: “I was seldom able to see an opportunity, until it ceased to be one.”
23. A study by Phillips and Kirchhoff using Dun & Bradstreet data found that about three-fourths of new firms were still in existence after two years of operation.
24. Studies by Phillips and Kirchhoff, and by Headd, found that one-half of new firms or new employers were still in existence after four years of operation.
25. Nine principles of entrepreneurial finance are identified and explored in this entrepreneurial finance textbook,
26. The “time value of money” is an important component of the rent one pays for using someone else’s financial capital.
27. A venture’s financial objective is to survive.
28. Private financial markets are a place where standardized contracts or securities are traded on organized security exchanges with restrictions on how they can be transferred.
29. Free cash flow is the net income forecast to be available to the venture’s owners over time.
30. Free cash flows are adjusted for risk and the time value of money when used to calculate the value of a venture.
31. Free cash exists when cash exceeds that which is needed to operate, pay creditors, and invest in assets.
32. Free cash is all the cash available to cover operating expenses.
33. Owner-manager (agency) conflicts are differences between manager’s self-interest and that of the owners who hired the manager.
34. The owner-debtholder conflict is the divergence of the owners’ and lenders’ self-interest as the firm gets close to going “public.”
35. The financial objective of increasing value is inconsistent with developing positive character and reputation.
36. Entrepreneurial finance is the application and adaptation of financial tools and techniques to the planning, funding, operations, and valuation of an entrepreneurial venture.
37. Financial distress occurs when cash flow is insufficient to meet current debt obligations.
38. The second stage in a successful venture’s life cycle is the startup stage.
39. The rapid growth stage directly follows the startup stage.
40. Early-stage ventures include firms in their development, startup, or survival live cycle stages.
41. Business angels are wealthy individuals acting as informal or private investors, who provide venture financing for small businesses.
42. Mezzanine financing is temporary financing needed to keep the venture afloat until the next offering.
43. “Crises and bubbles” and “emerging economies and global change” are considered to be sources of entrepreneurial opportunities.
44. In Chapter I five mega-trend categories are identified as sources of entrepreneurial opportunities.
45. Entrepreneurial opportunities can occur only when there are societal changes in the world.
46. One principal of entrepreneurial finance is “risk and expected reward go hand in hand.
47. While cash is the language of business, accounting is the currency.
48. Venture character and reputation can be assets or liabilities.
Multiple-Choice Questions
1. Successful entrepreneurs exhibit which of the following traits?
a. recognize and seize commercial opportunities
b. economic pessimism
c. tend to be doggedly optimistic
d. both a and b
e. both a and c
2. While one must be careful to avoid too many generalizations about entrepreneurial traits or characteristics, which one of the following characteristics would not normally be associated with successful entrepreneurs?
a. being able to see and seize a commercial opportunity
b. planning for the venture’s future
c. only being able to see an opportunity after it ceases to be one
d. being optimistic about the venture’s success
3. About one-half of all newly created businesses in the U.S. are dissolved or cease operations within how many years after being started?
a. two years
b. four years
c. six years
d. eight years
4. About 60 percent of all newly created businesses in the U.S. are dissolved or cease operations within how many years after being started?
a. two years
b. four years
c. six years
d. eight years
5. “Fads” are:
a. not predictable
b. have short lives
c. do not involve macro changes
d. all of the above
6. Harry Dent documented major generation waves in the United States during the twentieth century in:
a. 1972
b. 1982
c. 1993
d. 2003
7. “E-commerce” refers to:
a. environmental commerce
b. electronic commerce
c. economic commerce
d. exploratory commerce
8. While entrepreneurial opportunities come from an almost unlimited number of sources, this textbook focuses on:
a. societal changes
b. demographic changes
c. technological changes
d. crises and bubbles
e. emerging economies and global changes
f. all of the above
9. Indicate the number of principles of entrepreneurial finance that are emphasized in this textbook:
a. one
b. three
c. five
d. seven
e. nine
10. Maximizing the value of the venture to its owners is the common financial goal of which of the following?
a. the entrepreneur
b. the debtholders
c. the venture equity investors
d. both a and b
e. both a and c
11. Which of the following is considered to be an “agency” conflict?
a. owner-manager conflict
b. stockholder-manager conflict
c. stockholder-debtholder conflict
d. manager-debtholder conflict
12. Which one of the following possible conflicts of interest is usually minimized through the use of equity incentives?
a. owner-manager conflicts
b. owner-employee conflicts
c. manager-employee conflicts
d. manager-debtholder conflicts
13. Which one of the following possible conflicts of interest increases in divergence at venture gets close to bankruptcy?
a. owner-manager conflict
b. owner-employee conflict
c. manager-employee conflict
d. manager-debtholder conflict
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FIN 320 Week 5 Mid-Term Exam – Strayer
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Chapters 1 Through 8
Chapter 1: ___________________________________________________________________________
1.
Financial assets represent _____ of total assets of U.S. households.
A.
over 60%
B.
over 90%
C.
under 10%
D.
about 30%
2.
Real assets in the economy include all but which one of the following?
A.
Land
B.
Buildings
C.
Consumer durables
D.
Common stock
3.
Net worth represents _____ of the liabilities and net worth of commercial banks.
A.
about 51%
B.
about 91%
C.
about 11%
D.
about 31%
4.
According to the Flow of Funds Accounts of the United States, the largest single asset of U.S. households is ___.
A.
mutual fund shares
B.
real estate
C.
pension reserves
D.
corporate equity
5.
According to the Flow of Funds Accounts of the United States, the largest liability of U.S. households is ________.
A.
mortgages
B.
consumer credit
C.
bank loans
D.
gambling debts
6.
____ is not a derivative security.
A.
A share of common stock
B.
A call option
C.
A futures contract
D.
None of these options (All of the answers are derivative securities.)
7.
According to the Flow of Funds Accounts of the United States, the largest financial asset of U.S. households is ____.
A.
mutual fund shares
B.
corporate equity
C.
pension reserves
D.
personal trusts
8.
Active trading in markets and competition among securities analysts helps ensure that: I. Security prices approach informational efficiency II. Riskier securities are priced to offer higher potential returns III. Investors are unlikely to be able to consistently find under- or overvalued securities
A.
I only
B.
I and II only
C.
II and III only
D.
I, II, and III
9.
The material wealth of society is determined by the economy's _________, which is a function of the economy's _________.
A.
investment bankers; financial assets
B.
investment bankers; real assets
C.
productive capacity; financial assets
D.
productive capacity; real assets
10.
Which of the following is not a money market security?
A.
U.S. Treasury bill
B.
6-month maturity certificate of deposit
C.
Common stock
D.
Bankers' acceptance
11.
__________ assets generate net income to the economy, and __________ assets define allocation of income among investors.
A.
Financial, financial
B.
Financial, real
C.
Real, financial
D.
Real, real
12.
Which of the following are financial assets? I. Debt securities II. Equity securities III. Derivative securities
A.
I only
B.
I and II only
C.
II and III only
D.
I, II, and III
13.
__________ are examples of financial intermediaries.
A.
Commercial banks
B.
Insurance companies
C.
Investment companies
D.
All of these options
14.
Asset allocation refers to _________.
A.
the allocation of the investment portfolio across broad asset classes
B.
the analysis of the value of securities
C.
the choice of specific assets within each asset class
D.
none of these options
15.
Which one of the following best describes the purpose of derivatives markets?
A.
Transferring risk from one party to another
B.
Investing for a short time period to earn a small rate of return
C.
Investing for retirement
D.
Earning interest income
16.
More than _____________ of currency is traded each day in the market for foreign exchange.
A.
$300 million
B.
$1 billion
C.
$30 billion
D.
$1 trillion
17.
Security selection refers to the ________.
A.
allocation of the investment portfolio across broad asset classes
B.
analysis of the value of securities
C.
choice of specific securities within each asset class
D.
top-down method of investing
18.
Which of the following is an example of an agency problem?
A.
Managers engage in empire building.
B.
Managers protect their jobs by avoiding risky projects.
C.
Managers over consume luxuries such as corporate jets.
D.
All of these options are examples of agency problems.
19.
_____ is a mechanism for mitigating potential agency problems.
A.
Tying income of managers to success of the firm
B.
Directors defending top management
C.
Antitakeover strategies
D.
The straight voting method of electing the board of directors
20.
__________ is (are) real assets.
A.
Bonds
B.
Production equipment
C.
Stocks
D.
Commercial paper
21.
__________ portfolio construction starts with selecting attractively priced securities.
A.
Bottom-up
B.
Top-down
C.
Upside-down
D.
Side-to-side
22.
In a market economy, capital resources are primarily allocated by ____________.
A.
governments
B.
the SEC
C.
financial markets
D.
investment bankers
23.
__________ represents an ownership share in a corporation.
A.
A call option
B.
Common stock
C.
A fixed-income security
D.
Preferred stock
c
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FIN 350 Week 5 Quiz – Strayer
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FIN 534 Homework Set 5 – Strayer
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Directions: Answer the following questions on a separate document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in the course shell. This homework assignment is worth 100 points.
Use the following information for Questions 1 through 3:
Boehm Corporation has had stable earnings growth of 8% a year for the past 10 years and in 2013 Boehm paid dividends of $2.6 million on net income of $9.8 million. However, in 2014 earnings are expected to jump to $12.6 million, and Boehm plans to invest $7.3 million in a plant expansion. This one-time unusual earnings growth won’t be maintained, though, and after 2014 Boehm will return to its previous 8% earnings growth rate. Its target debt ratio is 35%.
Calculate Boehm’s total dividends for 2014 under each of the following policies:
1. Its 2014 dividend payment is set to force dividends to grow at the long-run growth rate in earnings.
2. It continues the 2013 dividend payout ratio.
3. It uses a pure residual policy with all distributions in the form of dividends (35% of the $7.3 million investment is financed with debt).
4. It employs a regular-dividend-plus-extras policy, with the regular dividend being based on the long-run growth rate and the extra dividend being set according to the residual policy.
Use the following information for Questions 5 and 6:
Schweser Satellites Inc. produces satellite earth stations that sell for $100,000 each. The firm’s fixed costs, F, are $2 million, 50 earth stations are produced and sold each year, profits total $500,000, and the firm’s assets (all equity financed) are $5 million. The firm estimates that it can change its production process, adding $4 million to investment and $500,000 to fixed operating costs. This change will (1) reduce variable costs per unit by $10,000 and (2) increase output by 20 units, but (3) the sales price on all units will have to be lowered to $95,000 to permit sales of the additional output. The firm has tax loss carry forwards that render its tax rate zero, its cost of equity is 16%, and it uses no debt.
5. What is the incremental profit? To get a rough idea of the project’s profitability, what is the project’s expected rate of return for the next year (defined as the incremental profit divided by the investment)? Should the firm make the investment? Why or why not?
6. Would the firm’s break-even point increase or decrease if it made the change?
Use the following information for Questions 7 and 8:
Suppose you are provided the following balance sheet information for two firms, Firm A and Firm B (in thousands of dollars).
Firm A Firm B
Current assets $150,000 $120,000
Fixed assets (net) 150,000 180,000
Total assets $300,000 $300,000
Current liabilities $20,000 $80,000
Long-term debt 80,000 20,000
Common stock 100,000 100,000
Retained earnings 100,000 100,000
Total liabilities and equity $300,000 $300,000
Earnings before interest and taxes for both firms are $30 million, and the effective federal plus-state tax rate is 35%.
7. What is the return on equity for each firm if the interest rate on current liabilities is12% and the rate on long-term debt is 15%?
8. Assume that the short-term rate rises to 20%, that the rate on new long-term debt rises to 16%, and that the rate on existing long-term debt remains unchanged. What would be the return on equity for Firm A and Firm B under these conditions?
9. In 1983 the Japanese yen-U.S. dollar exchange rate was 250 yen per dollar, and the dollar cost of a compact Japanese-manufactured car was $10,000. Suppose that now the exchange rate is 120 yen per dollar. Assume there has been no inflation in the yen cost of an automobile so that all price changes are due to exchange rate changes. What would the dollar price of the car be now, assuming the car’s price changes only with exchange rates?
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FIN 534 Week 5 Midterm Exam – Strayer New
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1 Which of the following statements is CORRECT?
<span style="font-size: 13px;"> </span>
The New York Stock Exchange is an auction market with a physical location.
Capital market transactions involve only the purchase and sale of equity securities, i.e., common stocks.
If an investor sells shares of stock through a broker, then this would be a primary market transaction.
Consumer automobile loans are evidenced by legal documents called "promissory notes," and these individual notes are traded in the money market.
While the distinctions are blurring as investment banks are today buying commercial banks, and vice versa, investment banks generally specialize in lending money, whereas commercial banks generally help companies raise capital from other parties.
2 Which of the following statements is CORRECT?
It is usually easier to transfer ownership in a corporation than it is to transfer ownership in a sole proprietorship.
Corporate shareholders are exposed to unlimited liability.
Corporations generally face fewer regulations than sole proprietorships.
Corporate shareholders are exposed to unlimited liability, and this factor may be compounded by the tax disadvantages of incorporation.
Shareholders in a regular corporation (not an S corporation) pay higher taxes than owners of an otherwise identical proprietorship.
3 Which of the following statements is CORRECT?
While the distinctions are blurring, investment banks generally specialize in lending money, whereas commercial banks generally help companies raise capital from other parties.
A security whose value is derived from the price of some other "underlying" asset is called a liquid security.
Money market mutual funds usually invest most of their money in a well-diversified portfolio of liquid common stocks.
Money markets are markets for common stocks and long-term debt.
The NYSE operates as an auction market, whereas the Nasdaq is a dealer market.
4 Which of the following statements is CORRECT?
Capital market instruments include both long-term debt and common stocks.
An example of a primary market transaction would be your uncle transferring 100 shares of Wal-Mart stock to you as a birthday gift.
The NYSE does not exist as a physical location; rather, it represents a loose collection of dealers who trade stocks electronically.
If your uncle in New York sold 100 shares of Microsoft through his broker to an investor in Los Angeles, this would be a primary market transaction.
While the two frequently perform similar functions, investment banks generally specialize in lending money, whereas commercial banks generally help companies raise large blocks of capital from investors.
5 Which of the following could explain why a business might choose to operate as a corporation rather than as a sole proprietorship or a partnership?
Corporations generally find it relatively difficult to raise large amounts of capital.
Less of a corporation's income is generally subjected to taxes than would be true if the firm were a partnership.
Corporate shareholders escape liability for the firm's debts, but this factor may be offset by the tax disadvantages of the corporate form of organization.
Corporate investors are exposed to unlimited liability.
Corporations generally face relatively few regulations.
6 You recently sold 100 shares of your new company, XYZ Corporation, to your brother at a family reunion. At the reunion your brother gave you a check for the stock and you gave your brother the stock certificates. Which of the following statements best describes this transaction?
This is an example of an exchange of physical assets.
This is an example of a primary market transaction.
This is an example of a direct transfer of capital.
This is an example of a money market transaction.
This is an example of a derivatives market transaction
7 Money markets are markets for
Foreign stocks.
Consumer automobile loans.
U.S. stocks.
Short-term debt securities.
Long-term bonds.
8 Which of the following statements is CORRECT?
If Apple issues additional shares of common stock through an investment banker, this would be a secondary market transaction.
If you purchased 100 shares of Apple stock from your sister-in-law, this would be an example of a primary market transaction.
The IPO market is a subset of the secondary market.
Only institutions, and not individuals, can participate in derivatives market transactions.
As they are generally defined, money market transactions involve debt securities with maturities of less than one year.
9 DeYoung Devices Inc., a new high-tech instrumentation firm, is building a
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FIN 535 Week 5 Midterm Exam – Strayer New
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Chapter 1 Through 7
Chapter 1—Multinational Financial Management: An Overview
1. The commonly accepted goal of the MNC is to:
a.
maximize short-term earnings.
b.
maximize shareholder wealth.
c.
minimize risk.
d.
A and C.
e.
maximize international sales.
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.01
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Knowledge
2. With regard to corporate goals, an MNC is mostly concerned with maximizing ____, and a purely domestic firm is mostly concerned with maximizing ____.
a.
shareholder wealth; short-term earnings
b.
shareholder wealth; shareholder wealth
c.
short-term earnings; sales volume
d.
short-term earnings; shareholder wealth
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.01
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Knowledge
3. For the MNC, agency costs are typically:
a.
non-existent.
b.
larger than agency costs of a small purely domestic firm.
c.
smaller than agency costs of a small purely domestic firm.
d.
the same as agency costs of a small purely domestic firm.
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.01
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Knowledge
4. Which of the following could reduce agency problems for an MNC?
a.
stock options as managerial compensation.
b.
hostile takeover threat.
c.
investor monitoring.
d.
all of the above are forms of corporate control that could reduce agency problems for an MNC.
PTS: 1 DIF: Moderate OBJ: INFM.MADU.15.01.01
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Comprehension
5. The valuation of an MNC should rise when an event causes the expected cash flows from foreign to ____ and when foreign currencies denominating these cash flows are expected to ____.
a.
decrease; appreciate
b.
increase; appreciate
c.
decrease; depreciate
d.
increase; depreciate
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.04
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Comprehension
6. Which of the following theories identifies specialization as a reason for international business?
a.
theory of comparative advantage.
b.
imperfect markets theory.
c.
product cycle theory.
d.
none of the above
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.02
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Knowledge
7. Which of the following theories identifies the non-transferability of resources as a reason for international business?
a.
theory of comparative advantage.
b.
imperfect markets theory.
c.
product cycle theory.
d.
none of the above
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.02
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Knowledge
8. Which of the following theories suggests that firms seek to penetrate new markets over time?
a.
theory of comparative advantage.
b.
imperfect markets theory.
c.
product cycle theory.
d.
none of the above
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.02
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Knowledge
9. Which of the following industries would most likely take advantage of lower costs in some less developed foreign countries?
a.
assembly line production.
b.
specialized professional services.
c.
nuclear missile planning.
d.
planning for more sophisticated computer technology.
PTS: 1 DIF: Moderate OBJ: INFM.MADU.15.01.02
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Application
10. Due to the risks involved in international business, firms should:
a.
only consider international business in major countries.
b.
maintain international business to no more than 20% of total business.
c.
maintain international business to no more than 35% of total business.
d.
none of the above
PTS: 1 DIF: Moderate OBJ: INFM.MADU.15.01.02
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Comprehension
11. A product cycle is the process by which a firm provides a specialized sales or service strategy, support assistance, and possibly an initial investment in the franchise in exchange for periodic fees.
a. True
b. False
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.02
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Knowledge
12. Licensing is the process by which a firm provides its technology (copyrights, patents, trademarks, or trade names) in exchange for fees or some other specified benefits.
a. True
b. False
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.03
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Knowledge
13. The agency costs of an MNC are likely to be lower if it:
a.
scatters its subsidiaries across many foreign countries.
b.
increases its volume of international business.
c.
uses a centralized management style.
d.
A and B.
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.01
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Comprehension
14. An MNC may be more exposed to agency problems if most of its shares are held by:
a.
a few mutual funds
b.
a widely dispersed set of individual investors
c.
a few pension funds
d.
all of the above would prevent agency problems
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.01
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Comprehension
15. The Sarbanes-Oxley Act improves corporate governance of MNCs because it:
a.
makes executives more accountable for verifying financial statements
b.
eliminates stock options as a form of compensation
c.
ties executive compensation to firm performance
d.
places a limit on the amount of funds that managers can spend
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.01
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Comprehension
16. MNCs can improve their internal control process by all of the following, except:
a.
establishing a centralized data base of information
b.
ensuring that all data are reported consistently among subsidiaries
c.
ensuring that the MNC always borrows from countries where interest rates are lowest
d.
using a system that checks internal data for unusual discrepancies
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.01
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Knowledge
17. Franchising is the process by which national governments sell state owned operations to corporations and other investors.
a. True
b. False
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.03
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Knowledge
18. The parent of MNC can implement compensation plans that directly reward the subsidiary managers for enhancing the value of the MNC.
a. True
b. False
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.01
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Comprehension
19. If a publicly-traded MNC's managers make poor decisions that reduce its value, it may encourage other firms to acquire it.
a. True
b. False
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.01
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Knowledge
20. Institutional investors such as mutual funds or pension funds which have large holdings of an MNC's stock do not normally want to take control of it and therefore have no influence over management of the MNC.
a. True
b. False
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.01
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Knowledge
21. In comparing exporting to direct foreign investment (DFI), an exporting operation will likely incur ____ fixed production costs and ____ transportation costs than DFI.
a.
higher; higher
b.
higher; lower
c.
lower; lower
d.
lower; higher
PTS: 1 DIF: Moderate OBJ: INFM.MADU.15.01.03
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Comprehension
22. Which of the following is an example of direct foreign investment?
a.
exporting to a country.
b.
establishing licensing arrangements in a country.
c.
purchasing existing companies in a country.
d.
investing directly (without brokers) in foreign stocks.
PTS: 1 DIF: Moderate OBJ: INFM.MADU.15.01.03
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Application
23. According to the text, a disadvantage of licensing is that:
a.
it prevents a firm from importing.
b.
it is difficult to ensure quality control of the production process.
c.
it prevents a firm from exporting.
d.
none of the above
PTS: 1 DIF: Easy OBJ: INFM.MADU.15.01.03
NAT: BUSPROG.INFM .MADU.15.03 STA: DISC.INFM.MADU.15.02
KEY: Bloom's: Comprehension
24. ____ are most commonly classified as a direct foreign investment.
a.
Foreign acquisitions
b.
Purchases of international stocks
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FIN 540 Week 5 Midterm Exam – Strayer NEW
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Midterm Exam Chapter 18 Through 23
CHAPTER 18—PUBLIC AND PRIVATE FINANCING: INITIAL OFFERINGS, SEASONED OFFERINGS, AND INVESTMENT BANKS
TRUE/FALSE
1. If its managers make a tender offer and buy all shares that were not held by the management team, this is called a private placement.
2. Going public establishes a market value for the firm's stock, and it also ensures that a liquid market will continue to exist for the firm's shares. This is especially true for small firms that are not widely followed by security analysts.
3. The cost of meeting SEC and possibly additional state reporting requirements regarding disclosure of financial information, the danger of losing control, and the possibility of an inactive market and an attendant low stock price are potential disadvantages of going public.
4. The term "leaving money on the table" refers to the situation where an investment banking house makes a very low bid for the right to underwrite a firm's new stock offering. The banker is, in effect, "buying the job" with the low bid and thus not getting all the money his firm would normally earn on the job.
5. Whereas commercial banks take deposits from some customers and make loans to other customers, the principal activities of investment banks are (1) to help firms issue new stock and bonds and (2) to give firms advice with regard to mergers and other financial matters. However, financial corporations often own and operate subsidiaries that operate as commercial banks and others that are investment banks. This was not true some years ago, when the two types of banks were required by law to be completely independent of one another.
6. The term "equity carve-out" refers to the situation where a firm's managers give themselves the right to purchase new stock at a price far below the going market price. Since this dilutes the value of the public stockholders, it "carves out" some of their value.
7. Suppose a company issued 30-year bonds 4 years ago, when the yield curve was inverted. Since then long-term rates (10 years or longer) have remained constant, but the yield curve has resumed its normal upward slope. Under such conditions, a bond refunding would almost certainly be profitable.
8. The appropriate discount rate to use when analyzing a refunding decision is the after-tax cost of new debt, in part because there is relatively little risk of not realizing the interest savings.
9. If the firm uses the after-tax cost of new debt as the discount rate when analyzing a refunding decision, and if the NPV of refunding is positive, then the value of the firm will be maximized if it immediately calls the outstanding debt and replaces it with an issue that has a lower coupon rate.
10. When a firm refunds a debt issue, the firm's stockholders gain and its bondholders lose. This points out the risk of a call provision to bondholders and explains why a non-callable bond will typically command a higher price than an otherwise similar callable bond.
MULTIPLE CHOICE
11. Which of the following is generally NOT true and an advantage of going public?
a.
Increases the liquidity of the firm's stock.
b.
Makes it easier to obtain new equity capital.
c.
Establishes a market value for the firm.
d.
Makes it easier for owner-managers to engage in profitable self-dealings.
e.
Facilitates stockholder diversification.
12. Which of the following statements about listing on a stock exchange is most CORRECT?
a.
Any firm can be listed on the NYSE as long as it pays the listing fee.
b.
Listing provides a company with some "free" advertising, and it may enhance the firm's prestige and help it do more business.
c.
Listing reduces the reporting requirements for firms, because listed firms file reports with the exchange rather than with the SEC.
d.
The OTC is the second largest market for listed stock, and it is exceeded only by the NYSE.
e.
Listing is a decision of more significance to a firm than going public.
13. Which of the following statements is most CORRECT?
a.
Private placements occur most frequently with stocks, but bonds can also be sold in a private placement.
b.
Private placements are convenient for issuers, but the convenience is offset by higher flotation costs.
c.
The SEC requires that all private placements be handled by a registered investment banker.
d.
Private placements can generally bring in funds faster than is the case with public offerings.
e.
In a private placement, securities are sold to private (individual) investors rather than to institutions.
14. Which of the following statements is most CORRECT?
a.
The key benefits associated with refunding debt are the reduction in the firm's debt ratio and the creation of more reserve borrowing capacity.
b.
The mechanics of finding the NPV of a refunding decision are fairly straightforward. However, the decision of when to refund is not always clear because it requires a forecast of future interest rates.
c.
If a firm with a positive NPV refunding project delays refunding and interest rates rise, the firm can still obtain the entire NPV by locking in a low coupon rate when the rates are low, even though it actually refunds the debt after rates have risen.
d.
Suppose a firm is considering refunding and interest rates rise during time when the analysis is being done. The rise in rates would tend to lower the expected price of the new bonds, which would make them cheaper to the firm and thus increase the expected interest savings.
e.
If new debt is used to refund old debt, the correct discount rate to use in the refunding analysis is the before-tax cost of new debt.
15. Which of the following factors would increase the likelihood that a company would call its outstanding bonds at this time?
a.
A provision in the bond indenture lowers the call price on specific dates, and yesterday was one of those dates.
b.
The flotation costs associated with issuing new bonds rise.
c.
The firm's CFO believes that interest rates are likely to decline in the future.
d.
The firm's CFO believes that corporate tax rates are likely to be increased in the future.
e.
The yield to maturity on the company's outstanding bonds increases due to a weakening of the firm's financial situation.
16. Which of the following statements concerning common stock and the investment banking process is NOT CORRECT?
a.
If a firm sells 1,000,000 new shares of Class B stock, the transaction occurs in the primary market.
b.
Listing a large firm's stock is often considered to be beneficial to stockholders because the increases in liquidity and reputation probably outweigh the additional costs to the firm.
c.
Stockholders have the right to elect the firm's directors, who in turn select the officers who manage the business. If stockholders are dissatisfied with management's performance, an outside group may ask the stockholders to vote for it in an effort to take control of the business. This action is called a tender offer.
d.
The announcement of a large issue of new stock could cause the stock price to fall. This loss is called "market pressure," and it is treated as a flotation cost because it is a cost to stockholders that is associated with the new issue.
e.
The preemptive right gives each existing common stockholder the right to purchase his or her proportionate share of a new stock issue.
17. Which of the following statements is NOTCORRECT?
a.
"Going public" establishes a firm's true intrinsic value and ensures that a liquid market will always exist for the firm's shares.
b.
Publicly owned companies have sold shares to investors who are not associated with management, and they must register with and report to a regulatory agency such as the SEC.
c.
When stock in a closely held corporation is offered to the public for the first time, the transaction is called "going public," and the market for such stock is called the new issue market.
d.
It is possible for a firm to go public and yet not raise any additional new capital.
e.
When a corporation's shares are owned by a few individuals who own most of the stock or are part of the firm's management, we say that the firm is "closely, or privately, held."
18. In its negotiations with its investment bankers, Patton Electronics has reached an agreement whereby the investment bankers receive a smaller fee now (6% of gross proceeds versus their normal 10%) but also receive a 1-year option to purchase an additional 200,000 shares at $5.00 per share. Patton will go public by selling $5,000,000 of new common stock. The investment bankers expect to exercise the option and purchase the 200,000 shares in exactly one year, when the stock price is forecasted to be $6.50 per share. However, there is a chance that the stock price will actually be $12.00 per share one year from now. If the $12 price occurs, what would the present value of the entire underwriting compensation be? Assume that the investment banker's required return on such arrangements is 15%, and ignore taxes.
a.
$1,235,925
b.
$1,300,973
c.
$1,369,446
d.
$1,441,522
e.
$1,517,391
19. To finance its ongoing construction project, Bowen-Roth Inc. will need $5,000,000 of new capital during each of the next 3 years. The firm has a choice of issuing new debt or equity each year as the funds are needed, or issue only debt now and equity later. Its target capital structure is 40% debt and 60% equity, and it wants to be at that structure in 3 years, when the project has been completed. Debt flotation costs for a single debt issue would be 1.6% of the gross debt proceeds. Yearly flotation costs for 3 separate issues of debt would be 3.0% of the gross amount. Ignoring time value effects, how much would the firm save by raising all of the debt now, in a single issue, rather than in 3 separate issues?
a.
$79,425
b.
$83,606
c.
$88,006
d.
$92,406
e.
$97,027
20. 10 years ago, the City of Melrose issued $3,000,000 of 8% coupon, 30-year, semiannual payment, tax-exempt muni bonds. The bonds had 10 years of call protection, but now the bonds can be called if the city chooses to do so. The call premium would be 6% of the face amount. New 20-year, 6%, semiannual payment bonds can be sold at par, but flotation costs on this issue would be 2% of the amount of bonds sold. What is the net present value of the refunding? Note that cities pay no income taxes, hence taxes are not relevant.
a.
$453,443
b.
$476,115
c.
$499,921
d.
$524,917
e.
$551,163
21. Five years ago, the State of Oklahoma issued $2,000,000 of 7% coupon, 20-year semiannual payment, tax-exempt bonds. The bonds had 5 years of call protection, but now the state can call the bonds if it chooses to do so. The call premium would be 5% of the face amount. Today 15-year, 5%, semiannual payment bonds can be sold at par, but flotation costs on this issue would be 2%. What is the net present value of the refunding? Because these are tax-exempt bonds, taxes are not relevant.
a.
$278,606
b.
$292,536
c.
$307,163
d.
$322,521
e.
$338,647
22. Palmer Company has $5,000,000 of 15-year maturity bonds outstanding. Each bond has a maturity value of $1,000, an annual coupon of 12.0%. The bonds can be called at any time with a premium of $50 per bond. If the bonds are called, the company must pay flotation costs of $10 per new refunding bond. Ignore tax considerations⎯assume that the firm's tax rate is zero.
The company's decision of whether to call the bonds depends critically on the current interest rate on newly issued bonds. What is the breakeven interest rate, the rate below which it would be profitable to call in the bonds?
a.
9.57%
b.
10.07%
c.
10.60%
d.
11.16%
e.
11.72%
23. Stanovich Enterprises has 10-year, 12.0% semiannual coupon bonds outstanding. Each bond is now eligible to be called at a call price of $1,060. If the bonds are called, the company must replace them with new 10-year bonds. The flotation cost of issuing new bonds is estimated to be $45 per bond. How low would the yield to maturity on the new bonds have to be in order for it to be profitable to call the bonds today, i.e., what is the nominal annual "breakeven rate"?
a.
9.29%
b.
9.78%
c.
10.29%
d.
10.81%
e.
11.35%
24. Refer to Exhibit 18.1. What is the required after-tax refunding investment outlay, i.e., the cash outlay at the time of the refunding?
a.
$5,049,939
b.
$5,315,725
c.
$5,595,500
d.
$5,890,000
e.
$6,200,000
25. Refer to Exhibit 18.1. What will the after-tax annual interest savings for NWW be if the refunding takes place?
a.
$664,050
b.
$699,000
c.
$768,900
d.
$845,790
e.
$930,369
26. Refer to Exhibit 18.1. The amortization of flotation costs reduces taxes and thus provides an annual cash flow. What will the net increase or decrease in the annual flotation cost tax savings be if refunding takes place?
a.
$6,480
b.
$7,200
c.
$8,000
d.
$8,800
e.
$9,680
27. Refer to Exhibit 18.1. What is the NPV if NWW refunds its bonds today?
a.
$1,746,987
b.
$1,838,933
c.
$1,935,719
d.
$2,037,599
e.
$2,241,359
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HRM 500 Week 5 Discussion Questions – Strayer
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Week 5 D1
From the scenario, propose two approaches that a company can use to leverage a 360-degree performance appraisal system to evaluate individual performance. Support your answer with examples.
Week 5 D2
Describe two instances where performance pressure can lead to unethical behavior by employees in the effort to meet company goals. Propose two suggestions that HRM can take to limit unethical behavior by employees.
i
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HRM 510 Week 5 Midterm Exam – Strayer NEW
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Chapters 1 Through 7
CHAPTER 1
OVERVIEW OF EMPLOYMENT LAW
Online Quiz Questions
MULTIPLE CHOICE QUESTIONS
1. U.S. employment law is:
a. a complete body of federal law
b. a complete body of federal and state law
c. a fragmented work in progress
d. a fragmented body of common law
2. The best HR managers will:
a. be proactive
b. anticipate legal problems and try to avoid them
c. strictly enforce company policy when it conflicts with the law
d. a and b only
e. a through c
3. Sources of employment law include:
a. state and federal constitutions
b. state but not federal constitutions
c. executive orders
d. regulations
e. all of the above
f. a, c and d
4. The Employment at Will Doctrine means that:
a. an employer may fire an employee for any reason not prohibited by law
b. an employer may fire an employee only for cause
c. an employer may not fire an employee
d. none of these
5. The Employment at Will Doctrine is:
a. the starting point for any analysis of an employment issue
b. the rule, unless the parties have an employment contract
c. the rule, unless the parties have signed a collective bargaining agreement
d. all of the above
6. Employment law gives employees certain substantive rights. Among these are:
a. the right not to be fired except for cause
b. the right to vacation time and sick days
c. the right to an employer paid health insurance plan
d. none of these
7. In order to determine which employment laws apply to a certain business, one needs to consider:
a. the geographic location of the business
b. whether the business is public or private
c. how many employees the business has
d. all of these
e. two of these
8. An employee about to bring a claim for a violation of employment law must consider:
a. whether she has the right to bring a private cause of action
b. whether formal notice must be given before a claim can be made
c. whether the employee has worked for the employer for at least one year
d. all of these
e. a and b only
9. Tri-State Computers, Inc. decided to institute a mandatory arbitration agreement policy, so posted notice of the policy on its company website for all of the employees to see. The policy, as described is:
a. enforceable
b. unenforceable
10. The role of Human Resource managers in compliance with legal requirements regarding employment law includes:
a. recognizing and analyzing employment law issues
b. taking action to avoid or prevent employment disputes
c. enforcing legal requirements governing employment law
d. all of these
e. two of these
CHAPTER 1
OVERVIEW OF EMPLOYMENT LAW
MULTIPLE CHOICE QUESTIONS
1. William, aged 59, has been employed by your firm for more than 26 years, and has continually received above-average evaluations. Just before his 27th anniversary with the firm, you are ordered by your superior, the HR Manager, to tell him that his employment with the firm is terminated immediately. Given the facts, as presented, the issues most likely to be raised are:
a. legal
b. ethical
c. medical
d. contract
e. none of these
2. Under U.S. employment laws, employees have the right to:
a. not be fired, as long as they do a good job and the employer’s financial condition does not require that employment levels be cut
b. be treated fairly in all aspects of the workplace, including receiving fair compensation
c. have health insurance and other basic benefits, provided that they are full-time employees
d. all of the above
e. none of the above
3. In order to determine which employment laws apply to a certain employer, the employer should consider which of the following factors?
a. the number of employees that work for the company
b. whether the employer sells goods or services to the federal government
c. the state(s) in which the employer operates
d. all of the above
e. none of the above
4. Regarding the historical development of employment law in the U.S., which of the following statements is true?
a. Most federal employment laws were passed in the first half of the 19th century in response to growing industrialization
b. The earliest employment laws focused on wages and hours
c. Most employment laws were passed with little conflict, since the need for these laws was evident to employers, employees and legislators.
d. The importance of employment at will has increased over time.
e. None of the above.
5. Which of the following is generally true regarding the process of enforcing employment laws?
a. courts and government agencies hear cases only after employees come forward with complaints about violations of the law
b. employees are very likely to seize the opportunity to sue their employers, because all of the cost of employment litigation is borne by the employer
c. once a claim is brought, a company’s attorneys deal with it, and managers have little involvement in the case
d. all of the above
e. none of the above
6. In Nino v The Jewelry Exchange, plaintiff bank employee sued alleging discrimination, and his employer sought to dismiss the suit, stating that the employee had signed a mandatory arbitration agreement, so that the suit should go to arbitration. The employee responded that the mandatory arbitration agreement he had signed was unconscionable, and therefore, unenforceable. Among other things, the employee alleged that the arbitration agreement was unconscionable because gave him only 5 days to make a demand for arbitration. The court ruled:
a. for the Plaintiff employee, because the agreement was both procedurally and substantively unconscionable.
b. for the Plaintiff employee, because the arbitration agreement was procedurally unconscionable.
c. for the Defendant employer, because none of the provisions of the arbitration agreement was unconscionable.
d. for the Defendant employer because the unconscionable parts of the arbitration agreement could be stricken, and the arbitration could proceed.
7. Under the “payroll method” approved by the U.S. Supreme Court:
a. employers whose payrolls exceed $500,000 annually are covered by Title VII
b. employers are covered by Title VII if they had at least 20 employees on the payroll at the time of the alleged discrimination
c. employers are covered by Title VII if they had at least 15 employees working and being paid for each working day during at least 20 weeks in the same or the preceding year
d. employees are counted for each full week between when they are hired and when they leave employment, regardless of the number of days or hours worked.
e. none of the above
8. Which of the following statements is true of arbitration?
a. historically, arbitration has been used to resolve disputes over contractual rights
b. arbitrators’ decisions are usually advisory and not considered final
c. arbitrators have less control over the outcomes of disputes than do mediators.
d. arbitration is always more costly and time-consuming than litigation
e. none of these
9. Regarding the interrelationship of federal and state employment laws:
a. state laws must be identical to federal law or the state law is void
b. states may pass laws which reduce employee rights, but may not enact laws that expand employee protections granted in federal laws
c. states may pass laws which expand employee rights, but may not enact laws that reduce employee protections granted in federal laws
d. employment law is exclusively a federal domain, so states may not enact laws when federal law already exists
10. In Wal-Mart Stores v Dukes, Plaintiffs, all female employees, sued alleging discrimination in pay and promotions based on gender, and sought to represent a class of about 1 ½ million female employees, past and present. The case was certified as a class action, and Wal-Mart appealed, alleging that the certification did not comply with the Federal Rules of Civil Procedure in that the claimants had not suffered the same injury, and the claims did not have questions of law and fact in common. The court ruled:
a. for the Plaintiff employees, because they had all suffered the same injury – a violation of Title VII
b. for the Plaintiff employees, because Wal-Mart was guilty of a pattern or practice of discrimination based on its corporate culture
c. for Wal-Mart, because a lawsuit with 1.5 million plaintiffs was simply unwieldy
d. for Wal-Mart, because the claims did not have common questions of law and fact
11. In EEOC v Fed Ex, the EEOC sued Fed Ex on behalf of a deaf employee who was denied reasonable accommodation under the Americans with Disabilities Act (ADA) over a two year period. The court found for EEOC, and entered judgment for compensatory and punitive damages. Fed Ex appealed, in part based on the award of punitive damages, contending, among other things, that Fed Ex had made a good-faith effort to comply with the law. In particular, Fed Ex offered evidence of its ADA compliance policy set forth in the employee manual. The court ruled:
a. the establishment of an ADA compliance policy was sufficient to establish a good faith effort to comply with the ADA
b. the establishment of an ADA compliance policy was not sufficient by itself to establish a good faith effort to comply, in the absence of any affirmative steps to ensure the implementation of its policy
c. a good faith effort was not required
d. none of these
12. Which of the following is true regarding enforcement of employee rights and enforcement of employment laws?
a. finding a lawyer willing to take an employment law case is difficult because lawyers accept only about 50% of employment discrimination cases brought to them
b. if an employer has a complaint or grievance procedure, the employee is required to exhaust the remedies afforded under the internal procedure before taking the case to an enforcement agency or court
c. the EEOC encourages the parties to discrimination cases to use mediation
d. the EEOC encourages the parties to discrimination cases to use arbitration
13. An employer considering whether to use mandatory arbitration agreements should recognize which of the following limitations of their use?
a. the agreements probably won’t apply to any of its unionized employees
b. the agreements will not deter the EEOC from investigating and possibly litigating to recover remedies for individuals
c. the agreements may not be enforceable if they do not provide employees with the same remedies as those available through the courts
d. all of the above
e. none of the above
14. Which of the following is true of the enforcement process for discrimination charges brought under Title VII?
a. the plaintiff may choose to begin in the state civil rights agency, or may file directly with the EEOC as they wish
b. charges must be brought within 60 days of the alleged discriminatory act
c. a right to sue letter must be obtained from the EEOC before going to court
d. all of the above
e. none of the above
15. A mandatory arbitration agreement which provides that all claims be brought within 90 days of the date of the alleged violation would likely be:
a. enforceable
b. unenforceable
c. subject to amendment by the court
16. Dean got a job as a copyrighter for a publishing firm, and after working for the firm for two years, was told he was required to sign a mandatory arbitration agreement, submitting any employment disputes to binding arbitration, and that if he would not sign it as is, he would be fired. Dean:
a. will have to sign the agreement if he wants to keep his job
b. does not have to sign the agreement, and can still keep his job
17. The contract referred to in Question #16 above is:
a. procedurally unconscionable
b. substantively unconscionable
c. neither of these
d. both of these
18. Which of the following provisions, if included in a mandatory arbitration agreement, would be likely to render it unenforceable?
a. a provision that the employee pay the costs of the arbitrator’s services
b. a provision that gives the employer the right to choose any arbitrator
c. a provision that bars all discovery
d. a provision that requires the employee to prove his case
e. all of these
f. all of these except d
19. As the Human Resources manager of your firm, the task of putting into effect the firm’s new mandatory arbitration agreement has fallen to you. At a minimum, legally, which of the following actions are required to make the policy enforceable?
a. send email notice to all employees that a mandatory arbitration policy has been adopted
b. post the mandatory arbitration policy on the firm’s website, and ask employees to visit the site and review the policy
c. provide employees with a copy of the agreement, and ask them to sign it
d. make certain that the agreement provides, and the employees understand, that they are waiving their rights to sue
e. all of these are legally required
f. none of these are legally required
g. only c and d are legally required
20. Your firm has just gotten a contract with the U.S. government to build security gates for the new fence along the U.S.-Mexican border. In addition to the employment laws which already apply to your business, the following will now also apply:
a. Title IX
b. the Federal Security Fence Funding Act of 2008
c. EO # 11246
d. all of these
e. none of these
ESSAY QUESTIONS
1. Employment law arises from a variety of sources. Name and briefly discuss each of them.
2. Describe what the role of a good human resources manager should be in managing employment law issues.
CHAPTER 2
OVERVIEW OF EMPLOYMENT LAW
Online Quiz Questions
MULTIPLE CHOICE QUESTIONS
1. If an employment relationship exists, an employer must do this for its employee:
a. withhold income taxes from wages
b. provide workers’ compensation insurance
c. provide unemployment insurance
d. all of these
2. Who has the burden of proving the status of a hired worker whose status as either employee or independent contractor is disputed?
a. the hiring party
b. the worker hired
c. the agency before which the disputed case is pending
d. the judge presiding over the case in court
e. none of these
3. Of the following, which is considered in determining whether someone is an independent contractor or an employee?
a. who has the right to control how and where the work is done
b. does the worker work for one firm or many
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Chapters 1 Through 6
Chapter 1
1.Principlesare
a.lawsandregulationsthatguidebehaviorinthe worldofbusiness. b.mores,values,andcustomsthatguidebehavioringeneral.
c.specificandpervasiveboundariesforbehaviorthatareuniversalandabsolute.
d.theobligationsbusinessesassumeto maximizetheirpositiveimpactandminimizetheirnegativeimpacton stakeholders.
e.themores,values,andcustomsthatparentsteachtheirchildren.
2.Social responsibilityis
a.anorganization'sobligationtomaximizeitspositiveeffectsand minimizeitsnegativeeffectsonstakeholders. b.principlesandstandardsthatguidebehaviorinthe worldofbusiness.
c.abusiness'sresponsibilitynotto pollutetheenvironment.
d.a business'sresponsibilitytomanufactureproductsthatfunctionproperly. e.charitablecontributionsmadeby abusinesstoenhanceits image.
3.The
was/wereenactedtorestoreconfidenceinfinancialreportingandbusinessethicsaftertheaccounting
scandalsoftheearly2000s.
a.DefenseIndustryInitiativeon BusinessEthicsandConduct b.Sarbanes-OxleyAct
c.FederalSentencingGuidelinesforOrganizations d.ForeignCorruptPracticesAct
e.Dodd-FrankWallStreetReformandConsumerProtectionAct
4.Thetermbusinessethicsisbestdescribedbythe followingstatement:
a.Itisthestudyand philosophyofhumanconduct,withanemphasisondeterminingrightand wrong.
b.Itisan"inquiryintothe natureandgroundsofmoralitywherethe termmoralityistakentomeanmoral judgments,standardsandrulesofconduct."
c.Itisthe"studyof thegeneralnatureof moralsandof specificmoralchoices;moralphilosophy;andtherules orstandardsgoverningtheconductofthemembersofaprofession."
d.Itisanorganization'sobligationtomaximizeitspositiveeffectsand minimizeitsnegativeeffectson stakeholders.
e.Itcomprisesthe principles,values,andstandardsthatguidebehaviorinthe worldofbusiness.
5.Whichofthefollowingis notone oftherightsspelledout byJohnF.Kennedyinhis"Consumers'BillofRights"?
a.Therighttochoose b.Therightto safety
c.Therighttobeinformed d.Therighttobeethical
e.Therightto beheard
6.Duringthe1990stheinstitutionalizationofbusinessethicswas largelydrivenbywhichpieceoflegislation?
a.Sarbanes-OxleyAct
b.FederalSentencingGuidelinesforOrganizations
c.Dodd-FrankWallStreetReformandConsumerProtectionAct d.ForeignCorruptPracticesAct
e.Global SullivanPrinciples
7.Businessethics,asafield,haspassedthroughwhichofthefollowingstates?
a.Afieldofstudytotheologicaldiscussiontorecognitionofsocialissues b.Recognitionofsocialissuestoa fieldofstudytotheologicaldiscussion c.Afieldofstudytorecognitionofsocialissuestotheologicaldiscussion d.Recognitionofsocialissuestotheologicaldiscussiontoa fieldofstudy e.Theologicaldiscussiontorecognitionofsocialissuestoa fieldofstudy
8.The1960ssawariseofconsumerism.Whatis consumerism?
a.An increaseinconsumerrightsbyorganizationsandgovernments b.Thegrowthofinternationalretailchainstores
c.Activitiesundertakenbyindependentindividuals,and groupsto protecttheirrightsasconsumers d.Thewidespreadadoptionof consumerorientedmarketingstrategiesamongbusinesses
e.Organizations’tendencytoseekwaystotakeadvantageofconsumers
9.Ethicsisa partofdecisionmaking
a.atall levelsof workandmanagement.
b.primarilyatthe uppermanagementlevelsofanorganization. c.mostlyforpolicymakers.
d.thatislessimportantthanotherdecisionmakingprocesses. e.onlyatthatlowerlevelsoforganizationalmanagement.
10.Whichofthe followingwasdevelopedinthe 1980stoguidecorporatesupportfor ethicalconductbyestablishinga methodfordiscussingbestpractices?
a.FederalSentencingGuidelinesforOrganizations
b.DefenseIndustryInitiativeon BusinessEthicsandConduct c.Corporatecodesofconduct
d.UnitedStatesSentencingCommission e.MERCOSUR
11.The
focus(es)onfirmstakingactionto preventanddetectbusinessmisconductin cooperationwith
governmentregulation.
a.UnitedStatesSentencingCommission
b.DefenseIndustryInitiativeon BusinessEthicsandConduct c.WorldTradeOrganization
d.UnitedNationsGlobalCompact
e.FederalSentencingGuidelinesforOrganizations
12.Thestudyofbusinessethicsisimportanttobetterunderstandallofthe followingexcept
a.thata person'sownmoralphilosophiesanddecision-makingexperiencemaynotbesufficienttoguidehimor herinthebusinessworld.
b.howandwhypeoplemakeethicalorunethicaldecisions.
c.howto copewithconflictsbetweenaperson'sownvaluesandthoseoftheorganizationin whichheorshe works.
d.thatbusinessethicsisentirelyanextensionofanindividual'sownpersonalethics. e.howtoidentifyethicalissuesarisinginthebusinessworld.
13.Accordingto theroleofethicalculturein performance,allofthesearedriversofprofitexcept
a.trust.
b.investorloyalty.
c.employeecommitment. d.customersatisfaction.
e.opportunityformisconduct.
14.Morethana complianceprogram,businessethicsisbecoming a.amanagementissueto achievecompetitiveadvantage.
b.lessacceptedbysociety.
c.mainlyagovernmentregulatoryissue.
d.an initiativeledby nonprofitorganizations.
e.aprogramthatdecreasesprofitsbutincreasessocietalbenefits.
15.Havingacceptablepersonalethicsisprobablynotgoingto besufficientto handlecomplexbusinessethicalissues whenanindividualhas
a.familyconcerns. b.an unethicalboss.
c.limitedbusinessexperience. d.financialtraining.
e.a marketingbackground.
16.OneofthemajorethicalissuesPresidentObama’sadministrationfocusedonwas
a.decreasingenvironmentallegislation. b.deregulation.
c.taxdecreases.
d.incentivesto oilcompanies.
e.healthcareandconsumerprotection.
17.Whichof thefollowingisgenerallynotconsidereda businessethicsissue?
a.Harassment
b.Accountingfraud c.Employeetheft
d.Misuseoforganizationalresources e.Corporatehierarchy
18.Whichrepresenteda far-reachingchangetoorganizationalcontrolandaccountingsystems,makingsecuritiesfrauda criminaloffense?
a.CouncilonEconomicPrioritiesandSocialAccountability8000. b.Sarbanes-OxleyAct.
c.ConsumerProtectionAct.
d.DefenseIndustryInitiativeon BusinessEthicsandConduct.
e.Dodd-FrankWallStreetReformandConsumerProtectionAct.
19.TheForeignCorruptPracticesActoutlawed a.accountingfraud.
b.pricecollusion.
c.corruptioningovernment.
d.briberyofofficialsin othercountries. e.executivemisconduct.
20.WhichofthefollowingwasnotaprovisionoftheSarbanes-OxleyAct?
a.Itstiffenedpenaltiesforcorporatefraud.
b.It createdanaccountingoversightboardthatrequirescorporationsto establishcodesofethicsforfinancial reporting.
c.Itrequiredtopexecutivestosignoffon theirfirms'financialstatements. d.Itoutlawedbriberyofofficialsinothercountries.
e.Itmadesecuritiesfrauda criminaloffense.
21.Whichofthefollowingis notcitedas an exampleof a globalcollaborativeefforttoestablishstandardsof business conduct?
a.CouncilonEconomicPriorities'SocialAccountability8000 b.EthicalTradingInitiative
c.U.S.ApparelIndustryPartnership
d.UnitedStatesSentencingCommission e.WorldTradeOrganization
22.Becauseof Sarbanes-Oxley,publiclytradedcompaniesmustdevelop financialreporting.
a.ethicsofficers
b.ethicsprograms c.codesofethics d.legalcounsel
e.accountants
toassistinmaintainingtransparencyin
23. isessentialinbuildinglong-termrelationshipsbetweenbusinessesandconsumers. a.Profits
b.Dividends c.Trust
d.Hubris
e.Codesofethics
24.TheDodd-FrankWallStreetReformandConsumerProtectionAct a.wasverypopularamongWallStreetbankers.
b.representedonlymodestreform.
c.cameout oftheologicaldiscussionsin the1920s.
d.wasdesignedtomakethefinancialservicesindustrymoreresponsible. e.madeitmandatoryforpubliccorporationstohireethicsofficers.
25.IntheReagan/Busheras,themajorfocusofthebusinessworldwason a.self-regulationratherthanregulationbygovernment.
b.decreasingthenumberofmergers.
c.decreasingthemultinationalpresencein theU.S.marketplace. d.increasinggovernmentinfluenceon theeconomicarena.
e.improvingbusinessethics.
26.Thesixprinciplesof theDefenseIndustryInitiativeon BusinessEthicsandConductbecamethefoundationfor a.BetterBusinessBureauethicalguidelines.
b.theFederalSentencingGuidelinesforOrganizations. c.theEthicalTradingInitiative.
d.the FederalTradeCommissioncompliancerequirements. e.theSarbanes-OxleyAct.
27.Ethicalcultureisdefinedas
a.rules,standards,and moralprinciplesregardingwhatis rightorwrongin specificsituations. b.theestablishmentandenforcementof ethicalcodesthroughouttheorganization.
c.thedevelopmentofrulesandnormsthataresociallyenforced.
d.the codificationoflawstorewardorganizationsfor takingactiontopreventmisconduct. e.acceptablebehaviorasdefinedbythecompanyandindustry.
28.TheFederalSentencingGuidelinesfor Organizationsset the tonefor organizationalethicscomplianceprogramsby a.codifyingintolaw incentivesfororganizationstotakeactionsuchasdevelopingethicalcomplianceprograms
topreventmisconduct.
b.forcingallorganizationstodevelopmandatoryreportingsystems.
c.eliminatingmostofthefederallegislationthatcreatedinefficientand time-consumingactivitiesforbusinesses. d.providingastudyof moralphilosophies.
e.providinganexaminationofcompanycodesofethics.
29.WhichofthefollowingstatementsabouttheFederalSentencingGuidelinesforOrganizationsisfalse?
a.Theyusearoutinemechanicalapproachthatforcesallfirmstousethesamemeanstoavertserious penalties.
b.Theystrivetopreventmisconduct.
c.Theyencouragecompaniesto developstandardsandprocedurescapableofdetectingandpreventing misconduct.
d.Theyutilizea carrotandstickapproachbytakingpreventiveactionagainstmisconduct.
e.Theyencouragethe appointmentofhigh-levelpersonnelresponsiblefor oversightofthe complianceprogram.
30.Whichofthefollowingis notoneofthe benefitsofbeingethicalandsociallyresponsibleinbusiness?
a.Greateremployeecommitment
b.Ahighdegreeof employeedissent
c.Improvedcustomertrustandsatisfaction d.Increasedinvestorloyalty
e.Betterfinancialperformance
31.Employees'perceptionsof theirfirmas havingan ethicalclimateleadsto a.lackoffocusongoals.
b.greaterfocusoneducation.
c.increasedcommunityinvolvement.
d.improvedrelationshipswith competitors. e.enhancedperformance.
32.Employeesfeellesspressuretocompromiseethically,observelessmisconduct,aremoresatisfiedwiththeir organizations,andfeelmorevaluedwhen
a.theyarenewattheirjobs.
b.theyarepaidtoignoreproblemsintheworkplace. c.theydo notagreewithan organization’svalues.
d.theyhaveveryhighcompensation.
e.theyseehonesty,respect,andtrustappliedin theworkplace.
33.Investorsareconcernedaboutbusinessethicsbecausetheyknowthatmisconductcan a.fosterstability.
b.improveemployeecommitment. c.improvecustomerloyalty.
d.lowerstockvalueandprices.
e.complicatebusinessfinancialreporting.
34.Mostorganizationswithstrongethicalclimatesusuallyfocuson thecorevalueof placing interestsfirst. a.customers'
b.employees'
c.stockholders' d.suppliers'
e.distributors'
35.Whichofthefollowingis notsomethinga firmmightdotoencourageorganizationalethicsand compliance?
a.Employeeethicstraining
b.Hiringa complianceofficer
c.Ignoringpotentialethicalissues d.Writingacodeof ethics
e.Conductinganethicsand complianceaudit.
36.Howdoesethicscontributeto customersatisfaction?
37.Discusstheevolutionofbusinessethicsasafieldofstudyfrombefore1960to thepresent.
38.Whyisit importantthatbusinesspeoplestudybusinessethics?
39.Wealllearnvaluesfromsourcessuchasfamily,religion,andschool.Whymightthesesourcesofindividualvalues not proveveryhelpfulwhenmakingcomplexbusinessdecisions?
40.Discussthecurrentstateofbusinessethicsinthetwenty-firstcentury.
41.Howdo valuesandjudgmentsplayacriticalrolewhenwemakeethicaldecisions?
Chapter 2
1.Thosewhohaveaclaimin someaspectofafirm'sproducts,operations,markets,industry,andoutcomesareknown as
a. shareholders. b. stockholders. c. stakeholders. d.claimholders.
e.special-interestgroups.
2.Stakeholders'poweroverbusinessesstemsfromtheir a.abilitytowithdraworwithholdresources.
b.abilitytogenerateprofits. c.mediaimpact.
d.politicalinfluence. e.stockownership.
3.Whichofthefollowingdonottypicallyengageintransactionswithacompanyandthusarenotessentialforits survival?
a.Employees
b.Secondarystakeholders c.Primarystakeholders
d.Investors
e.Customers
4.Afirmthatmakesuseofa
recognizesotherstakeholdersbeyondinvestors,employees,andsuppliers,and
explicitlyacknowledgesthetwo-
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Chapter 1 Through 12
Chapter 1
WHAT IS RESEARCH?
Multiple-Choice Questions
*1. To be considered true research, a project must:
a. gather together a body of existing information and communicate it in a clear and
concise way.
b. uncover obscure or esoteric information and bring it to the consideration of the broader research community.
c. gather and interpret information in a systematic fashion so as to increase understanding of some phenomenon.
d. produce definitive conclusions regarding the subject of study.
**2. Which of the following examples illustrates research the way it is defined in your textbook?
a. Sally is writing a paper about the effects of the Harry Potter books on the reading habits of fourth graders in the United States and United Kingdom. She goes to a research library to find information to include in her paper.
b. Ian wants to know why the population of songbirds has declined in recent years in the Sutton Wilderness Area. He carefully collects soil and water samples, systematically surveys the entire area for predators, and then sits down to make sense of his findings.
c. Leonard is starting a woodworking business and is not sure how to calculate the cost of his labor so he can be both profitable and fair to the customers. He asks several established business owners how they calculate labor changes.
d. Bill is doing a report on the sonnets of Shakespeare. He carefully reads a number of sonnets and then carefully reads scholarly reviews of those same sonnets written by various Shakespeare scholars. He synthesizes all of this information in his report.
*3. Which of the following is defined as an organized body of concepts and principles intended to explain a particular phenomenon?
a. Theory b. Inference c. Hypothesis d. Interpretation
*4. Which of the following is defined as a reasonable guess, or a logical supposition, for explaining the phenomenon under investigation?
a. Theory b. Inference c. Hypothesis d. Interpretation
*5. The process of formal research begins with the identification of:
a. research hypotheses.
b. a feasible research plan.
c. available participants.
d. a research problem.
*6. The purpose of formal research is to:
a. prove or disprove the study hypotheses.
b. support or fail to support the study hypotheses.
c. identify alternative hypotheses.
d. move beyond the need for hypotheses.
*7. Assumptions come into play:
a. in regard to nearly every aspect of every research study.
b. in qualitative research but not in quantitative research.
c. when research is not well thought out.
d. rarely, if ever.
*8. Well-designed research manages to minimize or avoid:
a. assumptions.
b. predictions.
c. theory.
d. bias.
*9. Researchers ______ their phenomenon of interest on the basis of data analysis.
a. make inferences about
b. know facts about
c. define
d. identify
*10. A primary function of the methodology is to:
a. guide and control the acquisition of data.
b. extract meaning from the data that have been gathered.
c. both a and b
d. neither a nor b
*11. Three of the following come into play as the researcher analyzes the data. Which one does NOT?
a. The study hypothesis/hypotheses
b. Preferences for certain outcomes
c. The logical reasoning process
d. Assumptions
*12. A well-designed and well-conducted study:
a. answers questions of importance in the field.
b. raises questions of importance to the field.
c. answers some questions and raises other questions.
*13. Reading the professional literature in the field of interest:
a. will enhance an individual’s ability to design and conduct high-quality research.
b. will stifle creativity and constrain the individual to the status quo.
c. will make little difference to the quality and impact of the individual’s work.
d. is necessary only for the leaders in the field.
*14. One indication that a piece of information is of high quality is that the information:
a. is found on the Internet.
b. is found in a juried (or refereed) research report.
c. resulted from a project that received corporate funding.
d. is the firsthand account of a personal experience.
Essay Questions
15. Your chapter states: “Research is, by its nature, cyclical or, more exactly, helical.” Explain why “cyclical” is an appropriate description of the research process. Then explain why “helical” is a better description.
16. Describe an example of the word research being used inappropriately. Be clear about how your example deviates from the definition of research offered in the chapter.
17. Graduate professors like to insist that the completion of thesis or dissertation research is not merely an “academic exercise” or final hurdle to obtaining the desired degree. Explain at least one personal benefit that the individual derives from completing a high- quality thesis or dissertation. Then explain at least one societal benefit that follows from the individual’s completion of a high-quality thesis or dissertation.
18. In the most rigorous tests of hypotheses, the researcher sets out to fail to support the hypothesis. Why is the attempt to fail to support a more rigorous test of the hypothesis than an attempt to support it?
Chapter 2
TOOLS OF RESEARCH
Multiple-Choice Questions
*1. A ______ is a specific mechanism or strategy the researcher uses to collect,
manipulate, or interpret data.
a. research tool
b. research methodology
c. statistical test
d. theory
*2. Research methodology refers to:
a. the general approach the researcher takes to conducting a research project.
b. a specific device the researcher uses to collect data.
c. the specific theoretical basis of the research project.
d. the statistical tests to be employed in a research project.
**3. Sam wants to find high-quality research reports related to attribution theory that have been published in professional journals. Sam’s best approach would be to:
a. consult the library catalog.
b. consult an online or electronic database.
c. search the World Wide Web.
d. browse the shelves in the library.
**4. Sonya is a college freshman who has just been assigned her first research paper, and she doesn’t know how to get started finding information. Sonya should:
a. search the World Wide Web.
b. consult an online or electronic database.
c. consult a reference librarian.
d. browse the shelves in the library.
*5. ______ allows a researcher to receive news in an area of special interest and discuss that news with others.
a. A search engine
b. E-mail
c. A list server
d. A Web browser
*6. ______ allows researchers to personally correspond practically instantly with other users around the world.
a. A search engine
b. E-mail
c. A list server
d. A Web browser
**7. John wants to begin using e-mail. Which of the following steps is NOT necessary for John to get started as an email user?
a. Request an e-mail account
b. Obtain necessary software from the e-mail provider and load it onto a computer
c. Learn to use a Web browser to explore the Internet
d. Learn how to access and use the e-mail provider’s services
*8. Three of the following statements about measurement in the research setting are accurate. Which one is NOT accurate?
a. The purpose of measurement is to systematically limit the data in a way that makes it quantifiable.
b. Measurement is applied by researchers only to insubstantial phenomena.
c. Measurement is a tool that aids researchers in interpreting their observations.
d. Systematic measurement assists researchers in obtaining objectivity in their researcher.
*9. An ordinal scale of measurement:
a. assigns a name to a category.
b. is tied to an absolute zero.
c. incorporates equal units of measurement.
d. communicates greater than and less than relationships.
*10. An interval level of measurement:
a. assigns a name to a category.
b. communicates rank-order information.
c. incorporates equal units of measurement.
d. is tied to an absolute zero.
*11. A ratio scale of measurement:
a. assigns a name to a category.
b. communicates rank-order information.
c. is especially appropriate for opinion data.
d. is tied to an absolute zero.
**12. The main difference between an interval and a ratio scale is that only one of them:
a. includes an absolute zero.
b. uses equal units of measurement.
c. supports the use of statistical analyses.
d. is used in research with human subjects.
**13. Professor Harris is constructing a demographic questionnaire for use in a research project. One question asks students to report how politically conservative they are. It includes a 7-point scale where 1 is “not at all conservative” and 7 is “extremely conservative.” This is an example of a/an:
a. nominal scale.
b. ordinal scale.
c. interval scale.
d. ratio scale.
**14. Professor Harris is constructing a demographic questionnaire for use in a research project. One question asks students to report their highest level of education by choosing from these options: “some high school,” “completed high school,” “some college,” or “completed 4-year college degree.” This is an example of a/an:
a. nominal scale.
b. ordinal scale.
c. interval scale.
d. ratio scale.
**15. Professor Harris is constructing a demographic questionnaire for use in a research project. One question asks students to report their age in years. This is an example of a/an:
a. nominal scale.
b. ordinal scale.
c. interval scale.
d. ratio scale.
**16. Professor Harris is constructing a demographic questionnaire for use in a research project. One question asks students to report whether they are currently living in an “urban,” “suburban,” or “rural” setting. This is an example of a/an:
a. nominal scale.
b. ordinal scale.
c. interval scale.
d. ratio scale.
*17. ______ refers to whether a measurement tool actually measures what it is intended to measure.
a. Validity
b. Reliability
c. Accountability
d. Robustness
*18. ______ refers to how consistently a measurement tool will yield the same result when the phenomenon under investigation does not change.
a. Validity
b. Reliability
c. Replicability
d. Dependability
**19. Kade has spent the past month carefully observing a group of third graders on the playground during recess, taking note of how the students interact with one another. On the basis of these observations, Kade is drawing conclusions about the interaction styles of boys and girls. This is an example of:
a. hypothetical logic.
b. deductive logic.
c. inductive logic.
d. propositional logic.
**20. Kimberly knows that teenagers often do not make good decisions in areas where they have little knowledge. She also knows that most teens have little knowledge about human sexuality. Therefore, Kimberly believes that teens are likely to make poor decisions about sexual activity. This is an example of:
a. inductive logic.
b. propositional logic.
c. transductive logic.
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LEG 320 Week 5 Quiz – Strayer
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Quiz 5 Chapter 8 and 9
CHAPTER 8
CRIMINAL PUNISHMENTS
MULTIPLE CHOICE
1. The Sixth Amendment requires that factual findings made for the purpose of enhancing a sentence must be made by a
a.
jury
b.
judge
c.
prosecuting attorney
d.
defense attorney
2. In Ring v. Arizona, 536 U.S. 584 (2002), the Court held that a state capital sentencing procedure that permitted the sentencing judge to make the factual determination of the aggravating and mitigating circumstances present
a.
violated the Sixth Amendment’s right of trial by jury
b.
violated the Sixth Amendment’s right of trial by judge
c.
violated the Sixth Amendment’s right to a speedy trial
d.
violated the Eight Amendment’s right to freedom from cruel and unusual punishment
3. In Blakely v. Washington, the Supreme Court held the sentence was invalid under the Sixth Amendment, because the defendant was entitled to a jury trial on the facts supporting the finding that he acted with
a.
deliberate cruelty
b.
deliberate indifference
c.
deliberate apathy
d.
deliberate malice
4. In Booker, the Court held that under the holdings of Apprendi and Blakeley, the Federal Sentencing Guidelines violated the Sixth Amendment’s right to
a.
jury trials in criminal cases
b.
speedy trials in criminal cases
c.
fair trials in criminal cases
d.
an attorney in criminal cases
5. The Federal Sentencing Guidelines are
a.
no longer mandatory
b.
no longer discretionary
c.
no longer applicable
d.
no longer fair
6. The name given to the test used to determine whether a sentence constitutes cruel and unusual punishment is
a.
balancing
b.
scales of justice
c.
proportionality
d.
moderation
7. In the 1972 case of Furman v. Georgia, death penalty laws in all states were struck down as
a.
“arbitrary and capricious” by the U.S. Supreme Court
b.
“arbitrary and changeable” by the U.S. Supreme Court
c.
“random and capricious” by the U.S. Supreme Court
d.
“arbitrary and illogical” by the U.S. Supreme Court
8. In Ingraham v. Wright, the Supreme Court considered the relationship between the cruel and unusual punishment clause and the use of corporal punishment in
a.
public schools
b.
prisons
c.
the work place
d.
private schools
9. The U.S. Supreme Court has held that reasonable corporal punishment in public schools
a.
violates the Eighth Amendment
b.
violates substantive due process
c.
is not covered by the cruel and unusual punishments clause
d.
violates equal protection
10. In a public school, any excessive, unreasonable corporal punishment which would shock the conscience would be a violation of
a.
substantive due process
b.
procedural due process
c.
the cruel and unusual punishment clause
d.
equal protection
11. The absence of fair procedures before corporal punishment is utilized on a public school student would be a violation of
a.
substantive due process
b.
procedural due process
c.
the cruel and unusual punishment clause
d.
equal protection
12. Which of the following types of defendants can be given the death penalty?
a.
mentally retarded defendants
b.
juvenile defendants
c.
female defendants
d.
insane defendants
13. In the 1972 case of _____ v. Georgia, the U.S. Supreme Court struck down all state death penalty laws as “arbitrary and capricious.”
a.
Thomas
b.
Cosgrove
c.
Furman
d.
Ellison
14. Generally, before the death penalty may be imposed, a judge or jury must find at least one of what kind of circumstance?
a.
mitigating
b.
balancing
c.
concurrent
d.
aggravating
15. What kinds of evidence must be produced if the prosecution seeks imposition of the death penalty after a jury has found the defendant guilty of the crime charged?
a.
aggravating circumstances
b.
mitigating circumstances
c.
infuriating circumstances
d.
frustrating circumstances
16. The Eighth Amendment prohibits the imposition of which kind of fines?
a.
excessive
b.
proportional
c.
mitigating
d.
monetary
17. The text of the Eighth Amendment prohibits excessive bail, excessive fines, and
a.
cruel and unusual punishment
b.
the death penalty
c.
life without parole
d.
three strikes laws
18. The Sixth Amendment requires that a jury must make factual findings for the purpose of
a.
enhancing a sentence
b.
putting a guilty defendant to death
c.
a downward departure
d.
a reduced sentence
19. Fines, like other types of punishment, must be
a.
balanced
b.
contingent
c.
pro-rated
d.
proportional
20. All states and the federal government have some type of sentence _____ statutes which typically increase the penalty if the crime was deemed a hate crime or the victim was elderly or handicapped.
a.
mitigation
b.
enhancement
c.
aggravation
d.
proportionality
21. Habitual offender or recidivist statutes that provide for a life sentence after multiple felony convictions are
a.
unconstitutional
b.
routinely found to be cruel and unusual punishment
c.
allowed on the federal level but not on the state level
d.
subject to a proportionality test, i.e., the sentence fits the crime
22. Which of the following is NOT characteristic of career-criminal programs?
a.
longer sentences
b.
encourages plea bargaining
c.
speeds up prosecution of the defendant
d.
development of special units within law enforcement agencies
23. In the Solem v. Helm case, the Supreme Court held the defendant’s sentence to life without parole for passing a “no account” check was
a.
a harsh, but acceptable sentence
b.
a violation of procedural due process
c.
a violation of the Eighth Amendment
d.
an advisable sentence which would serve to deter others
24. What case established the steps for a proportionality review of a non-capital sentence?
a.
the Solem case
b.
the Apprendi case
c.
the Blakely case
d.
the Miranda case
25. In Apprendi, the Court held that any fact that increases the penalty for the crime charged must be submitted to the jury and proved
a.
beyond a reasonable doubt
b.
beyond a reasonable suspicion
c.
beyond a doubt
d.
by a preponderance of the evidence
26. The Apprendi opinion caused many changes in
a.
sentencing procedures
b.
jury procedures
c.
misdemeanor trial procedures
d.
wording of three strikes laws
27. Blakely v. Washington, 124 S.Ct. 2531 (2004), applied the reasoning of Apprendi to
a.
state sentencing systems
b.
federal sentencing systems
c.
city sentencing systems
d.
county systems
28. The laws popularly called “three strikes and you’re out”
a.
consistently violate the Eighth Amendment
b.
have been repealed in all states
c.
violate double jeopardy
d.
apply only to felony convictions
29. Based upon the Court’s decision in Lockyer v. Andrade, “three-strikes” laws may
a.
be unconstitutional in certain situations
b.
not be used for nonviolent offenses
c.
not be used in federal courts
d.
not be used in federal or state courts
30. In Atkins v. Virginia, 536 U.S. 304 (2002), the Court held that the Cruel and Unusual Punishment Clause of the Eighth Amendment prohibited imposition of the death penalty on defendants with
a.
mental retardation
b.
schizophrenia
c.
terminal illness
d.
none of these answers are correct
TRUE/FALSE
1. The Eighth Amendment of the U.S. Constitution, ratified in 1791 as part of the Bill of Rights, provides that “excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted.”
2. Corporal punishment in public schools violates the Eighth Amendment.
3. In 1972, the Supreme Court, in Furman v. Georgia, invalidated all existing state death penalty laws.
4. The death penalty may not be imposed upon a person determined to be insane.
5. The Apprendi opinion caused many changes in sentencing procedures and also resulted in many reversals of sentences handed down by trial judges.
6. Blakely v. Washington, 124 S.Ct. 2531 (2004), applied the reasoning of Apprendi to state sentencing systems.
7. A defendant ordered to serve two years concurrently for conviction of two counts of a crime must serve the sentences one after the other, for a total of four years.
8. A long criminal record would be an aggravating factor while no previous criminal record would be a mitigating factor.
9. In 1984 the federal government passed the Truth in Sentencing law (TIS), which encouraged states to pass sentencing laws that guaranteed a defendant served the entire time sentenced rather than just a few years.
10. The use of a firearm or dangerous weapon while committing a crime frequently serves as a basis for sentence enhancement.
COMPLETION
1. The ban on cruel and unusual punishments requires that punishments be ____________ to the seriousness of the offense.
2. In Booker, the Court held that under the holdings of Apprendi and , the Federal Sentencing Guidelines violated the Sixth Amendment’s right to jury trials in criminal cases.
3. To impose the death penalty, the jury must find the existence of a(n) __________ circumstance.
4. Death penalty statutes allow the jury to impose a sentence other than the death penalty if they find a ____________ circumstance.
5. In 1972, in the case of ___________v. Georgia, the U.S. Supreme Court invalidated all existing state death penalty statutes.
6. The ___________ Amendment prohibits execution of a prisoner who is insane.
7. Sentences that are to be served are served at the same time.
8. The Eighth Amendment Cruel and Unusual Punishment Clause is not applicable to the use of corporal punishment for purposes in the public schools.
9. In the 1972 case of Furman v. Georgia, death penalty laws in all states were struck down as “arbitrary and ” by the U.S. Supreme Court.
10. Sentence enhancement statutes are used to ____________ the period of incarceration the defendant may be ordered to serve.
CHAPTER 9
FREE SPEECH, “STREET CRIMES,” AND THE BILL OF RIGHTS
MULTIPLE CHOICE
1. One test for when government can ban speech because of its potential for harm is the
a.
clear and present danger test
b.
obvious and current harm test
c.
contingent and imminent injury test
d.
overt and contemporary peril test
2. Which of the following are forms of speech that are NOT protected by the First Amendment?
a.
political speech
b.
commercial communications
c.
fighting words
d.
advertising
3. The fighting words exception to First Amendment protection generally requires
a.
the use of obscenity
b.
face-to-face confrontation
c.
a defamatory message
d.
vulgar language
4. Symbolic speech such as uniforms, religious garb, black armbands, and hand gestures express messages and ideas and are protected by the
a.
First Amendment
b.
Second Amendment
c.
Third Amendment
d.
Fourth Amendment
5. A statute forbidding persons not in custody from making false statements to law enforcement officers, even if not under oath, would
a.
not violate the First Amendment
b.
violate the First Amendment
c.
violate the privilege against self-incrimination
d.
violate due process
6. Patently offensive sexual material which is not protected by the First Amendment would be
a.
pornography
b.
obscenity
c.
profanity
d.
blasphemy
7. In determining whether something is obscene, the court will view the material from the point of view of
a.
expert witnesses
b.
a reasonable police officer
c.
the average person applying community standards
d.
a person well acquainted with art and literature
8. Public use of vulgar, profane, or indecent language or signs
a.
is generally protected speech
b.
is never protected by the First Amendment
c.
violates the First Amendment only if it is offensive to the general public
d.
is automatically considered a breach of the peace
9. The offense of inciting occurs
a.
if the person incited actually commits the crime
b.
if the person inciting participates in the criminal act
c.
even if the unlawful act is never actually committed
d.
if the inciting words are expressed in a loud and forceful voice
10. The crime of inciting occurs when speech or communication urges
a.
violent lawless action
b.
imminent lawless action
c.
obscene lawless action
d.
felonious lawless action
11. The two forms of defamation are
a.
past and imminent
b.
libel and slander
c.
latent and patent
d.
dangerous and offensive
12. What is the name given to speech which injures the character or reputation of another by written communication?
a.
slander
b.
libel
c.
extortion
d.
false publication
13. Defamation is the communication of false statements that
a.
cause another to commit a breach of the peace
b.
pose a clear and present danger
c.
are patently offensive
d.
damage the reputation of another
14. Which of the following has NOT been considered to be a “true threat”?
a.
threats against public officials
b.
threats by schoolchildren against teachers or other students
c.
terrorist threats
d.
all of these have been considered to be “true threats”
15. Which of the following are ways one person might stalk another person?
a.
spying on the victim
b.
following the victim
c.
e-mailing the victim
d.
all of these are ways one person might stalk another person
16. In District of Columbia v. Heller, 128 S.Ct. 2783 the U.S. Supreme Court held that the Second Amendment was a
a.
private right
b.
state right
c.
federal right
d.
government right
17. Speech that, because it will likely incite immediate violence, is not protected by the First Amendment is known as
a.
fighting words
b.
obscenity
c.
rude language
d.
incitement
18. The test used to judge government restrictions on speech is called the
a.
clear and present danger test
b.
libel and slander test
c.
stalking test
d.
violence test
19. Using the U.S. mail or e-mail to convey a threat of violence is
a.
a form of pure speech
b.
a form of symbolic speech
c.
considered fighting words
d.
a violation of federal law
20. When a city or state restricts conduct in public places
a.
it must have proof that the conduct is or will be harmful
b.
the public place must attract large numbers of people
c.
the restrictions must not be aimed at speech
d.
it must show it has a significant interest in placing restrictions and they must be no greater than necessary
21. Which of the following is NOT one of the guidelines for American courts to define obscenity established in the 1973 case of Miller v. California?
a.
Whether “the average person applying contemporary community standards” would find that the work, taken as a whole, appeals to the prurient interest.
b.
Whether the work or communication depicts or describes, in a patently offensive way, sexual conduct specifically defined by the applicable state law.
c.
Whether the work or communication, taken as a whole, lacks serious literary, artistic, political, or scientific value.
d.
all of these are guidelines established to define obscenity in the 1973 case of Miller v. California
22. A person who lies to federal investigators can be charged under the
a.
Federal Fraudulent Claim Act
b.
Federal Obstruction of Investigation Act
c.
Federal Perjury Act
d.
Federal False Statement Act
23. The offense of urging another to commit an unlawful act is
a.
inciting
b.
libel
c.
slander
d.
stalking
24. The crime of unlawful assembly
a.
prohibits the assembly of people for an unlawful purpose or under circumstances that endanger the public peace
b.
prohibits political demonstrations without a permit
c.
allows the government to limit First Amendment speech
d.
was a common crime that most jurisdictions no longer recognize
25. Stalking is a crime
a.
if the stalker actually harms the victim
b.
if the stalker attempts to harm the victim
c.
even if the stalker does not attempt to harm the victim
d.
if the victim can identify the stalker
26. The Second Amendment refers to whose right to keep and bear arms?
a.
the states
b.
the militias
c.
the people
d.
the National Guard
27. A state or federal gun control law is likely to
a.
violate the Second Amendment
b.
be supported by the NRA
c.
struck down by the federal court
d.
be upheld
28. According to the U.S. Supreme Court, the following is not protected by the First Amendment freedom of religion clause EXCEPT:
a.
worship
b.
violation of child labor laws
c.
polygamy
d.
handling dangerous animals in a religious ceremony
29. The offense of injuring the character or reputation of another by oral or written communication of false statements is
a.
defamation
b.
libel
c.
slander
d.
stalking
30. The First Amendment protects the freedom of religion, speech, free assembly, the press, and
a.
petitioning Government for redress of grievances
b.
suing Government for redress of grievances
c.
libeling Government for redress of grievances
d.
slandering Government for redress of grievances
TRUE/FALSE
1. Freedom of speech is an absolute right.
2. “Fighting words” are protected speech under the First Amendment.
3. Local, state, or federal governments in the United States cannot forbid or suppress speech and punish the speaker unless the speech is likely to bring harm to people or property.
4. According to the U.S. Supreme Court, it is the duty of law enforcement to define obscenity.
5. Violations of restraining orders are not “true threats”.
6. The offense of inciting another to commit a crime is not completed until the other person performs the unlawful act.
7. Cyber stalking, or using the Internet to stalk or harass a person, is a variation on the usual physical acts in stalking.
8. The Supreme Court has stated that the right to bear arms is a “fundamental right” made binding on states by the Due Process clause.
9. An e-mail threat against all females will constitute a “true threat.”
10. A person can stalk another by physically intruding into the other person’s life.
COMPLETION
1. Under the First Amendment, government cannot forbid ________ unless it is likely to bring harm to people or property.
2. All states have laws forbidding a breach of the peace, also known as _________ _________.
3. The two main forms of __________ are libel and slander.
4. Fighting words differ from ordinary rude language because they carry the possibility of inciting another to .
5. Violation of a restraining order can subject the violator to a ________ charge.
6. The use of public property is subject to ___________ regulations.
7. First Amendment freedoms and the rights of expression in public places are not ___________.
8. A clear and present danger is the possibility that some speech or conduct will bring harm to people or property .
9. Obscenity is speech or other communication that appeals to a reasonable person’s prurient interest, describes in an offensive manner specific defined sexual conduct, and has no social value.
10. A person can stalk another by sending messages.
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LEG 500 Week 5 Assignment 2 – Strayer
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Assignment 2: Employment-At-Will Doctrine
Due Week 5 and worth 150 points
Imagine you are a recently-hired Chief Operating Officer (COO) in a midsize company preparing for an Initial Public Offering (IPO). You quickly discover multiple personnel problems that require your immediate attention.
1. John posted a rant on his Facebook page in which he criticized the company’s most important customer.
2. Ellen started a blog to protest the CEO’s bonus, noting that no one below director has gotten a raise in two (2) years and portraying her bosses as “know-nothings” and “out-of-touch”
3. Bill has been using his company-issued BlackBerry to run his own business on the side.
4. After being disciplined for criticizing a customer in an email (sent from his personal email account on a company computer), Joe threatens to sue the company for invasion of privacy.
5. One of the department supervisors requests your approval to fire his secretary for insubordination. Since the secretary has always received glowing reviews, you call her into your office and determine that she has refused to prepare false expense reports for her boss.
6. Anna’s boss refused to sign her leave request for jury duty and now wants to fire her for being absent without permission.
As an astute manager, you will need to analyze the employment-at-will doctrine and determine what, if any, exceptions and liabilities exist before taking any action. As you proceed with your investigation, you discover the company has no whistleblower policy.
In preparation for this assignment, use the Internet or Strayer Library to research your state’s employment-at-will policy.
Write a four to five (4-5) page paper in which you:
1. Summarize the employment-at-will doctrine discussed in the text and then evaluate three (3) of the six (6) scenarios described by determining:
a. Whether you can legally fire the employee; include an assessment of any pertinent exceptions to the employment-at-will doctrine.
b. The primary action(s) that you should take to limit liability and impact on operations; specify the ethical theory that best supports your decision.
2. Examine your state’s policy on employment-at-will. Analyze at least one (1) real-world example of an employee or employer utilizing your state’s employment-at-will doctrine in the last five (5) years. Include a summary of the main issue and the outcome in the identified real-world example.
3. Use at least three (3) quality resources in this assignment. Note: Wikipedia is not an acceptable reference and proprietary Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
· Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
· Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
· Analyze and apply the concepts of freedom versus responsibility and ethical decision making.
· Analyze and evaluate laws that protect against discrimination in the workplace.
· Analyze and evaluate the employment-at-will doctrine and exceptions, as well as the protections afforded whistleblowers.
· Explore the legal and ethical issues surrounding employee and consumer privacy.
· Use technology and information resources to research issues in law, ethics, and corporate governance.
· Write clearly and concisely about law, ethics, and corporate governance using proper writing mechanics.
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LEG 500 Week 5 Discussion Questions – Strayer NEW
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Week 5 DQ
"Health and Safety in the Workplace (OSHA)" Please respond to the following:
· From the e-Activity, determine at least three (3) ways in which United States’ businesses can address the adverse effects of sweatshop labor practices. Provide one (1) specific example of each way that you have just determined to support your response.
· Considering the effect of worker rights on global and developing economies, take a position on whether or not the United States government should regulate the global workforce of the United States corporations. Justify your response.
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LEG 500 Week 11 Final Exam – Strayer NEW
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Chapters 1 Through 9
LAW & ETHICS IN THE BUSINESS ENVIRONMENT
CHAPTER 1
Law, Ethics, Business: An Introduction
Questions
1. Select the best definition of ethics:
a set of rules for behavior.
a menu of options regarding what we must do.
a menu of options regarding what we should do.
standards that must be met to avoid penalty.
2. Laws must be static and unyielding in order to provide stability for a society.
a. True
b. False
3. Choose the statement regarding duty to rescue that is false:
There is no general duty to rescue an individual.
Individual freedom of dictates that a person should not be forced to act.
Under a liberal–communitarian approach, citizens owe a duty to the state to rescue other citizens.
When one taunts another person who then puts themselves in danger in response to the teasing, the teaser has a duty to rescue the person teased.
4. All of the following are considered exceptions to the general rule that there is no duty to rescue except:
a. Pre-existing duty: For example, lifeguards have signed contracts agreeing to rescue people in exchange for pay and benefits.
b. Witnessing an accident: This creates a duty to step in and help the injured.
c. Employer: A duty exists to help an employee injured while working for that employer.
d. Endangerment: If one puts another in danger, they are obligated to rescue the person put in danger.
5. Which of the following views would be consistent with the free market ethics approach advocated by Milton Friedman?
Outsourcing to other countries is wrong because it is detrimental to the overall US economy.
When making decisions, corporate managers should consider the interests of all the corporation’s stakeholders.
The only social responsibility of business is to increase profits in a legal and ethical manner.
Automating processes and replacing workers is unethical since it does not serve a greater good.
6. Which of the following statements best illustrates the view of “utilitarianism”?
I. From each according to his abilities, to each according to his needs.
II. The risk reasonably to be perceived defines the duty to be obeyed and risks imports relation; it is risk to another or to others within the range of apprehension.
III. An action is right when maximizing welfare and total well-being.
IV. Individuals should pursue his or her own self-interest, even at the expense of others.
I only
III only
I and II
I, II, and III
7. According to deontological thinker Kant:
I. It is only acceptable to lie when done to protect an innocent person.
II. The level of respect owed to another is based on one’s relationship to that person.
III. It is wrong to use another person unless mutual benefit is attached.
IV. Once chosen, actions will be repeated whenever the same situation arises.
a. I and III
b. II and IV
c. III and IV
d. I, III, and IV
8. Virtue ethics:
a. focuses on what human beings are capable of being.
b. develop from learning how to make choices in difficult situations.
c. accepts that individuals rarely reach moral excellence.
d. are based on the concept that a person’s ethical beliefs are developed in childhood and do not change.
9. The Ethic of Care is:
a. A set of rules that explain how to prioritize those people affected by a decision so that a utilitarian analysis can be done successfully.
b. A set of universal principles, which applied evenly to all decisions will result in fairness and equity in ethical decisions.
c. The idea that we should all make decisions under the assumption that we don’t know our station in life, that we could be the person most negatively impacted by the decision.
d. A set of principles that encourage decision makers to look at human relationships as a primary motivator for a decision.
10. Assuming a business ethical dilemma, which statement best illustrates Gilligan approach suggested in her theory of “The Ethics of Care”?
individual rights and justice for all
applies only to women and not men
care and responsibility to others
obedience to independent moral rules or duties
11. Which of the following statements is INCORRECT regarding the rights of shareholders?
I. voting power on major issues and ownership in a portion of the company
II. right to transfer ownership and dividend entitlement
III. hire and fire management and select and appoint a chief executive
I and II
I, II, and III
I only
III only
12. According to Citizens United v. Federal Election Commission, which of the following is not a reason to allow corporations the right to spend money and advertise for political candidates?
a. Political speech is the most important, and most protected, speech that exists. It is crucial to the democratic process that political speech be encouraged and heard.
b. The immense wealth of a corporation allows it to be the most accurate in providing messages to people.
c. Independent expenditure by corporations do not give rise to corruption or the appearance of corruption.
d. Rapid changes in technology suggest laws restricting political speech should not be upheld.
13. Corporate director or officer decisions to dedicate corporate funds for social causes is called:
a. Corporate Social Responsibility (CSR)
b. Social Activism (SA)
c. Business Engagement in Environmental Situations (BEES)
d. Strategic Investment in Stakeholder Issues (SISI)
14. Which of the following statements regarding Benefit Corporations is true?
a. Benefit corporations are required to identify one or more specific benefit purposes.
b. Directors of benefit corporations are protected from all lawsuits from both shareholders and beneficiaries of the corporation’s public benefit purpose.
c. Benefit corporations are incorporated under state law with the intent to be profitable.
d. All of these statements regarding benefit corporations are true.
Essay Questions
15. Describe the difference between the law and ethics.
16. From where do ethical preferences originate?
17. Discuss how multinational corporations can be both a benefit and a detriment to society.
18. Explain why laws exist that do not impose a duty to rescue.
19. Describe the philosophy of noted economist, Milton Friedman, on the issue of “free market ethics.”
20. Discuss the differences in utilitarianism and virtue ethics in making a decision.
21. Discuss the similarities and differences between a traditional corporation and a benefit corporation.
CHAPTER 2
The Duty of Loyalty: Whistleblowing
Questions
22. Select the best definition of whistleblower:
the sole goal of modern ethics training
originated from the Latin "qui tam pro domino regequam pro sic ipso in hoc parte sequitur" meaning "who as well for the king as for himself sues in this matter."
a narrow exception under the general rule of at-will employment
people who report unethical or illegal activities under the control of their employers
23. Under the legal doctrine of “employment at will” an employee can be lawfully terminated from her job for:
V. wearing a shirt that clashes with her suit
VI. any non-discriminatory reason
VII. complaining about illegal activity in the workplace
VIII. only for good cause
a. I only
b. II only
c. I and II
d. III and IV
24. Exceptions to the rule of employment-at-will include which of the following?
I. organization of unions
II. passage of Sarbanes Oxley Act
III. raising of public policy issues
IV. promise of implied-contract or covenant-of-good-faith
I only
II only
I and II
I, II, III, IV
25. The Food Safety Modernization Act:
I. offers some protections for whistleblowers
II. covers vegetables, seafood and dairy
III. covers eggs and poultry
IV. gives the FDA power to make mandatory recalls
I and II only
I, III and IV only
I, II and IV only
I, II, III, IV
26. Ag Gag would criminalize:
undercover video recordings showing animal cruelty
recordings of public health violations occurring in agricultural facilities
Both a. and b.
Neither a. nor b.
27. The National Labor Relations Board has stated that the right to discuss working conditions freely and without fear of retaliation should exist at the work site. However, the Board believes the same right does not exist online.
True
False
28. The Constitution does not always protect free-speech rights for what public employees say on the job. Which of the following is true?
When a citizen enters government service, the citizen need not accept certain limitations on his or her freedom.
Public employees may speak out on matters of public concern and have First Amendment protection but not when they speak out in the course of their official duties.
As public employees speak out and receive First Amendment protection, there is an acceptable chilling of the speech of all potential whistleblowers.
None of the above
29. To determine whether a public employee receives First Amendment protection from speech (and therefore cannot be fired for it), the Supreme Court has stated that all of the following are important except:
a. The employer must have a justification for treating the employee differently than it would treat a member of the general public.
b. The speech cannot be about political topics.
c. The speech must be about something of great public concern.
d. The speech cannot be made as part of the employment (such as an internal memorandum).
30. When Qui Tam whistleblowers against the pharmaceutical industry were questioned about their motivation, several reasons were mentioned. Which of the following was NOT given as a reason?
a. Potential risk to public health.
b. Unfair employment practices.
c. Financial reward.
d. Self-preservation.
Essay Questions
31. According to research, what are the characteristics of the typical whistleblower?
32. According to the Montana Wrongful Discharge from Employment Act, what are the three elements of a wrongful discharge?
33. How was Ken Kendrick of The Peanut Corporation of America a typical whistleblower? An atypical whistleblower?
34. Explain what happened in the 1968 Supreme Court’s re-interpretation of the First Amendment to the U.S. Constitution regarding public employees’ limited speech protections.
35. Describe at least two other times since the Pickering decision in which the Supreme Court revisited the ruling. What were the outcomes?
36. As discussed in the text, False Claims Act or qui tam suits have been successful in the health care industry. The text mentions several things that all these successful claims have in common. Discuss those things.
CHAPTER 3
Privacy and Technology
Questions
In considering the legality of employer interception of employee e-mails at work, pick the correct statement.
IX. Employees have complete expectation of privacy since they can select their password for in-house and remote access of e-mails.
X. A subpoena is required by the employer to read any e-mail that is clearly marked “confidential” by the employee.
XI. No expectation of privacy exists over an employer-owned computer system at work.
XII. Statement by the employer that e-mails are confidential and privileged cannot be later used by an employer to defeat an employee’s claim of privacy
a. I only
b. II only
c. III only
d. I and IV
It is perfectly legal for employers to secretly and intrusively spy on their employees.
a. True
b. False
c.
Which of the following are ways businesses justify electronic surveillance of employees?
I. It measures and encourages efficiency.
II. It uncovers employee disloyalty.
III. It enhances the fairness of personnel evaluations.
IV. It prevents employees from sending personal emails on company time.
a. I and II only
b. I, II and III only
c. I, II and IV only
d. I, II, III and IV
The Electronic Communications Privacy Act of 1986 (ECPA):
i. supplements the Omnibus Federal Employee Workplace Privacy Rights Law of 2008.
j. has been an effective law because employee privacy intrusions are less common and steadily declining since 2000.
k. �� restricts employer access to public chat room interactions.
l. fails to protect employees in most situations involving e-mail monitoring by public and private employers.
According to the article excerpted in the text entitled, The Functions of Privacy,by Alan Westin, privacyhas several functions in today’s society. These include:
a. Total freedom in the private life with no consequences to the work life.
b. The ability to vent anger at authority without being held responsible.
c. The ability to post critical information on the Internet without consequences at work.
d. The ability to spend time quietly analyzing the actions and reactions of other people.
It is illegal to increase a specific employee’s health insurance premiums based on the employee’s lifestyle.
a. True
b. False
A majority of states have enacted off-the-job privacy protection laws. What is the LEAST effective argument by an employer to regulate off-the-clock activities in a state that has not enacted such lifestyle rights legislation?
a. It will provide a healthy work force.
b. Unregulated employees are less productive.
c. There is no invasion of privacy since the employee is “at will.”
d. It will prevent higher health care and insurance costs.
According to the article, Can They Do That? By Lew Maltby:
a. A job candidate who has been arrested will probably not be disqualified unless the candidate was found guilty.
b. Psychological tests are a good way to determine a job candidate’s honesty.
c. Employees who are being treated unfairly can protect themselves by joining a union.
d. Credit score can keep you from getting a job, even if it doesn’t involve handling money.
The government cannot interfere with the choices adults make about their private family and sexual life.
An individual’s medical history cannot be publicized by the government.
Individuals are protected against unwarranted invasion of privacy by private corporations.
Corporations are protected against unreasonable government searches or seizures.
a. when a corporation has authorized an agent with direct authority to perform an electronic search of an employee’s e-mail account.
b. upon issuance of a subpoena duces tecum to bring electronic data (e-mails, files, etc.) including electronic metadata such as headers, directional information, and other such useful tracking data.
c. when the government is conducting a search.
d. during an archival search of e-mails on a corporation’s server.
When it comes to employment and social media:
I. Every U.S. law dealing with employee privacy grants significant deference to an employer’s legitimate business interest.
II. U.S employers may legally canvass social media sites for information on employees and potential employees and act upon the information found.
III. When an employer finds and uses social media information to reprimand or fire an employee, the employer is obligated to disclose the method of gaining that information to the employee.
IV. Statutes that specially govern the intersection of social media and workplace privacy were enacted in 2013.
a. I and II only
b. I, II and III only.
c. I, II and IV only
d. I, II, III and IV
The 2004 Heath Information and Portability and Accountability Act (HIPPA):
a. requires consent for medical information to be accessed and shared.
b. prohibits discriminatory use of pre-employment medical tests.
c. prohibits employers from requesting genetic information as part of a post-offer medical exam.
d. All of these statements are true.
True
False
Essay Questions
Discuss the employee claims that counter businesses’ justification of electronic surveillance.
Name the two main factors that most courts use in determining whether or not electronic monitoring of employees is an invasion of privacy.
Briefly describe what Alan Westin believes are the “functions of privacy.”
Discuss Lewis Maltby’s proposition that employers should not do drug testing (or other testing related to off-work conduct) but should instead focus on impairment testing when an employee is entering the workplace.
The term “privacy” does not appear anywhere in the Constitution of the United States. Discuss (meaning share your opinion and support it with anecdotes or evidence) whether or not the Supreme Court was correct in “finding” privacy in the Constitution.
19. Discuss the privacy expectations of millennial employees.
20. Under the Genetic Information Nondiscrimination Act of 2008 (GINA) it is unlawful for an employer to request, require or purchase genetic information related to employees of their families. List at least three exceptions to this rule.
CHAPTER 4
Valuing Diversity: Stereotyping v. Inclusion
Questions
1. Equal protection is the constitutional guarantee:
that empowers Congress to regulate equally distributed commerce with foreign Nations, and among the several States, and with the Indian Tribes.
that laws made in pursuance of the Constitution and all treaties made under the authority of the United States shall be the equally protected as the “supreme law of the land.”
embodied in the Fourteenth Amendment to the U.S. Constitution.
that grants and distributes power and responsibilities to national and state governments.
2. A mayor serving in a major metropolitan area receives an internal memorandum indicating personnel at many police stations are single-race. At the time of the report, thirty percent of the police force was black or Hispanic. She immediately calls a press conference and orders transfers of police officers to achieve racial balance across the city. The transferred police officers sue on constitutional grounds. Assuming just these facts, what is the strongest argument that might be advanced by the transferred officers based on constitutional grounds?
Executive action by the mayor is unconstitutional because there was no rational relationship to a valid governmental purpose.
The action is “void for vagueness” since transferred police officers must unnecessarily guess at the underlying public policy of the transfer process.
The mayor’s policy used race as the basis for transfers, and assignments are subject to strict scrutiny.
The transfer can be set aside based on intermediate or heightened level of scrutiny.
3. Title VII specifically addresses the issues of affirmative action, sexual harassment, and same-sex marriage.
True
False
4. Which of the following federal government agencies is charged with enforcing Title VII of the Civil Rights Act of 1964?
U.S. Department of Labor
Merit Systems Protection Board
Office of Personnel Management
Equal Employment Opportunity Commission
5. To establish a prima facie case of religious discrimination, the employee has to show all of the following except which one:
a. That religion has been a significant part of the employee’s life for a significant amount of time.
b. That the employee has a sincerely held religious belief.
c. That the employer was on notice that the religious belief was in conflict with the employer’s request.
d. That there was a negative employment action based on a conflict between the religious belief and the employment requirement.
6. The Equal Employment Opportunity Commission (EEOC) favors English-only rules because they decrease the ability for people to stereotype based on national origin or ethnicity and thus decrease illegal workplace discrimination.
a. True
b. False
7. Employment practices without business justification applied to all employees that result in a less favorable effect for one group than for another group may state a claim for:
disparate treatment
disparate impact
inclusion
reasonable accommodation
8. John Smith was assaulted on the loading dock by a coworker, Jim Jones, at the Acme Widget Company. The attack was unprovoked by Smith. After the physical assault, there was an angry verbal exchange between the parties. The incident ended when Jones yelled that Smith was a “sissy” and “everybody knows you're queer as a three dollar bill." Which of the following statements best describes the outcome of the harassment lawsuit filed by Smith under The Civil Right Act of 1964?
XIII. Sex discrimination is prohibited by federal law (The Civil Right Act of 1964).
XIV. Sexual orientation discrimination is prohibited by federal law (The Civil Right Act of 1964).
XV. Suits based on harassment due to sexual orientation cannot prevail when based on local or state laws.
XVI. Sexual orientation discrimination is not prohibited by federal law (Title VII).
I only
II only
III only
I and IV
9. Federal courts have consistently held that the Civil Rights Act’s ban on ‘discrimination on the basis of sex’ does not include discrimination based on one’s sexual orientation or affiliation.
a. True
b. False
10. All of the following are true statements regarding the Family and Medical Leave Act (FMLA, 29 U.S.C. §§ 2601, et seq.), EXCEPT which of the following?
An eligible employee is entitled to take 12 weeks of unpaid leave in any 12-month period.
Every personal or family emergency qualifies for FMLA leave.
Under most circumstances, the employer must reinstate employees when they return from leave.
An eligible employee is entitled to take paid leave because of the birth of a son or daughter.
11. In order to be covered by the ADA (Americans with Disabilities Act), a disability must be ongoing and permanent for the foreseeable future.
a. True
b. False
Essay Questions
12. Describe the term heightened scrutiny. What do the courts use to determine which type of scrutiny to use?
13. What is the EEOC guideline on English-only workplace rules? What are two reasons given for the rules?
14. What must a plaintiff show to make a prima facie case of hostile environment sexual harassment?
15. According to sociologists, what is society’s image of a good mother? A good father? How do those images impact how parents who chose to balance their work life with family (i.e. work part time) are viewed?
CHAPTER 5
Workers Rights as Human Rights: Health and Safety in the Global Workplace
Questions
16. The Fair Labor Standards Act (FLSA) of 1938:
I. sets maximum hours
II. requires minimum wages
III. requires compliance with child labor standards
IV. covers farmer workers
a. I. and II only
b. III and IV only
c. I, II and III only
d. I, II, III and IV
17. With the adoption of the ____________, the U.S. began to address the need to prevent, or minimize, workplace accidents and health hazards.
Securities Act
Occupational Safety and Health Act
Environmental Protection Agency
National Insurance Act
18. OSHA has a wide range of tools available to address the risks that workers face.
a. True
b. False
19. Typically individual stockholders are not held responsible for the actions of a corporation. Exceptions usually relate to comingling of funds, underinsuring, or similar actions by the corporate leadership. This is called:
a. risking liability
b. piercing the corporate veil
c. the privilege of the stockholders
d. free market trading of stocks
20. Almost all of the hazards that workers face are known and visible.
True
False
21. The ADA direct threat provision permits an employer to impose a:
a. “requirement that an individual shall not pose a direct threat to the health or safety of other individuals in the workplace.”
b. “requirement that an individual shall not pose a direct threat to the health or safety of themselves in the workplace.”
c. Both a. and b.
d. Neither a. nor b.
22. According to Henry Shue, firms are not in the business of protecting the interests of their workers, except when this is a means to accomplish the organizational objectives.
a. True
b. False
23. When an employee files a worker’s compensation claim:
a. The employee must prove the company was negligent.
b. The employer has the right to raise traditional defenses to negligence to defeat the claim.
c. Both a. and b.
d. Neither a. not b.
24. The Workers Rights Consortium:
I. Combats sweatshops by monitoring and investigating working conditions in factories around the world.
II. Is a U.S. government organization.
III. Covers contractors, subcontractors and manufacturers.
a. I. only
b. I and II only
c. I and III only
d. I, II, and III
25. According to Guy Mundlak and Issi Rosen-Zvi, hypotheses for the existence of CSR reports include:
I. They have instrumental value to governments.
II. They are a focal point for persuading the corporate world that a new ethical discourse is emerging.
III. They are created to persuade competitors to adopt similar measures and standards of responsibility.
IV. They are created in an attempt to persuade managers and employees that they should be proud of their workplace.
a. III and IV only
b. I, II and III only
c. II, III and IV only
d. I, II, III and IV
Essay Questions
26. According to Dr. Michael Silverstein, what are the types of risks workers find on the job today?
27. According to Henry Shue, what are the six factors required to make a cost a true harm?
28. Discuss how corporate criminal liability has been handled by OSHA since 1970.
29. Explain how worker’s compensation in the U.S. works.
30. Explain what the Workers Rights Consortium is and what it has done to combat sweatshops.
CHAPTER 6
Environmental Law and Justice: Responsibility and Survival
Questions
31. Which piece of legislation was passed first?
The Clean Water Act
The Resource Conservation and Recovery Act
The Clean Air Act
The Comprehensive Environmental Response, Compensation, and Liability Act
32. Under the ___________ plan, the EPA auctions a set number of sulfur dioxide emission allowances annually, with each allowance permitting one ton of emissions.
allocation of resources
tradeable permit
green capitalism
shareholder activism
33. The Kyoto Protocol is an international treaty to reduce greenhouse admissions, signed by over 200 countries including the United States.
a. True
b. False
34. According to MIT professor Layzer, the lobbyists for the energy corporations have used which of the following tactics to avoid stricter regulation?
I. Portray the science of global warming as uncertain and debatable
II. Focus on the financial costs of regulation
III. Provide Senators and Representatives with financial incentives to vote against regulation
IV. Portray the environmentalists as extremists and a vocal minority.
a. I and II
b. I, II and III
c. I and III
d. I, II and IV
35. When environmentalists recognized that politicians were not going to pass stricter legislation and regulations, they changed their tactics to force change. According to the Layzer article in the chapter, these new tactics included:
a. Eco-terrorism – bombing pipelines and factories.
b. Collaboration with businesses – create partnerships to improve environmental impacts.
c. Public relations campaigns – go public with their accusations and encourage consumers to demand change.
d. Work internally through shareholders to try to change corporate disclosures
I and II
II and III
III and IV
II, III and IV.
36. A “green tax” uses government taxing power to benefit the environment.
a. True
b. False
37. According to John Locke, the purpose of government is to institute restraints to protect property rights.
True
False
38. The power of the U.S. Government to take property from a private individual and use it for public purposes is:
a. Due Process
b. Equal Protection
c. Eminent Domain
d. Suffrage
39. According to Alice Kaswan, environmental justice has had:
a. an extreme impact on environmental law
b. a significant impact on environmental law
c. a modest impact on environmental law
d. no impact on environmental law
40. According to Carmen G. Gonzalez, people go hungry because:
a. there is not enough food available
b. people are too poor to grow food
c. Both a. and b.
d. Neither a. nor b.
Essay Questions
41. Explain how the tradeable permit plan works.
42. Discuss the obligations of human beings to Mother Earth according to the universal declaration of rights of Mother Earth.
43. The power of eminent domain requires the government to provide just compensation to a property owner when taking private property for public purposes. Discuss your thoughts on whether the following should be considered “public purposes.”
a. The government taking private property to transfer to a private company for development of a strip mall.
b. The government taking private property to build a highway.
c. The government taking private property to expand an airport.
44. The Fifth Amendment to the Constitution explicitly protects private property owners’ economic interests. Explain how this amendment affects owners of private property.
45. What is environmental justice? What started the movement in the United States?
46. Explain the Crisis of Agrobiodiversity as explained by Carmen G. Gonzalez.
CHAPTER 7
Marketing and Technology: Choice and Manipulation
Questions
47. Identify the true statement(s) regarding freedom of speech:
XVII. It was not until the 1920s that legal doctrines protecting speech when offensive began to be recognized by the courts.
XVIII. In the First National Bank v. Bellotti case, the Supreme Court struck down a state law prohibiting a corporation to advertise to influence voters on issues that did not “materially affect” its business.
XIX. In the Virginia Board case, the U.S. Supreme Court failed to link the “right to receive information and ideas” with the traditional values that underlie free speech.
XX. According to the Central Hudson decision, “protected commercial speech” cannot be regulated.
I & II only
II & III only
II, III and IV only
I, II III, and IV
48. Citizens have always been afforded freedom of speech after the ratification of the U.S. Constitution.
True
False
49. According to John Kenneth Galbraith, the theory of consumer demand is based on the following broad assumption(s):
I. Socialism will work in all societies because consumers are willing to share their wealth.
II. The urgency of wants does not diminish as more of them are satisfied.
III. Wants originate in the personality of the consumer.
I only
I and II
III only
II and III
50. The Lanham Act:
I. Focuses on trademark registration and protection.
II. Was passed in reaction to the Great Depression.
III. Gives competitors the right to sue for false claims a rival company makes about the competitor’s product.
IV. Does not allow a company to sue for false claims a rival company makes about their own products.
I & II only
II & III only
I, I and III only
I, II III, and IV
51. Obesity in children has continued to rise since 1976 and approximately ¾ of all teens and youth are overweight.
a. True
b. False
52. The “creative revolution” in advertising refers to
a. The move from black and white to color advertising.
b. �� The move from talking about a product to showing what a product can do.
c. The move from showing what a product can do to making the product a status symbol.
d. The move from making a product a status symbol to using subliminal messaging to “force” consumers to buy the product.
53. The debate over advertising fast food and other “junk foods” to kids is in effect settled, since federal and state laws have put limits on that advertising.
a. True
b. False
54. According to the Learned Intermediary Rule, pharmaceutical manufacturers do not have to warm consumers about drug dangers as long as they have adequately warned physicians.
a. True
b. False
Essay Questions
55. In the case of R.J. Reynolds Tobacco Company, et al. v. FDA, what was the majority opinion regarding the First Amendment and the graphic warning requirements?
56. What forms can deceptive advertising claims take?
57. Discuss some of the ways the FTC has curbed online marketing efforts.
58. What is the Lanham Act? To succeed in suit under the Lanham Act, what must a plaintiff prove?
59. Discuss the standards of the Creative Code of the American Associate of Advertising Agencies.
60. Discuss how the fast food industry’s response to the obesity epidemic in children has changed since the publication of the Surgeon General’s report.
61. Direct-to-consumer advertising of prescription drugs began in the late 1980’s to early 1990’s. Based on the information in the Norplant case in the text, discuss the reasons why it should or should not be allowed.
CHAPTER 8
Allocating Risk and Responsibilities in the Global Marketplace: Products Liability
Questions
62. The term caveat emptor means:
“seller take care”
“empty the cave of deceit”
“buyer beware”
“truth shall prevail”
63. In Wyeth v. Levine, the majority rejected the idea that primary responsibility for drug safety lies with the government and instead lies with the drug manufacturer.
a. True
b. False
64. The Food and Drug Administration, the Consumer Product Safety Commission and the National Highway Transportation Safety Association are
a. Cabinet departments within the Executive Branch
b. Subcommittees of the Senate and House of Representatives within the Legislative Branch
c. Judicially created organizations to implement Supreme Court mandates related to product safety.
d. Independent agencies that report to no branch of government.
65. The organization that works with companies on recalls of unsafe products (such as lead-paint laden Thomas the Train toys) is
a. The Consumer Protection Group (CPG)
b. The Consumer Product Safety Commission (CPSC)
c. The Product Protection People (P3)
d. The Buy American Coalition (BAC)
66. The most notable exception to caveat emptor was for
Food
Automobiles
Clothing
Shoes
67. To win a suit for negligence, a plaintiff must establish that the defendant:
a. breached its duty of care
b. created an unreasonable risk of harm
c. acted with total disregard to the harm that could result
d. behavior was the proximate cause of the plaintiff’s injuries
a. I and II only
b. II and III only
c. I, II and IV only
d. I, II, III and IV
68. The Ford Pinto exploded when rear-ended by another vehicle. The Pinto suffered from a(an):
Design Defect
Manufacturing Defect
Warning Defect
End-user Defect
69. Absent provisions in the contract, which of the following types of damage can be awarded to an injured party under a breach of contract?
a. General damages only
b. General and incidental damages only
c. General, incidental, and special damages only
d. General, incidental, special and punitive damages
70. According to Stephen Sugarman, performance-based regulation happens when:
the government sets targets for how much harm is allowed for each product produced and the company is fined or penalized for any harm beyond the acceptable level.
the government creates a reporting structure for consumers to report corporation performance related to safety or environmental issues and then the government imposes fines by a specific formula for companies who exceed a certain number of negative reports.
consumer advocacy groups work with the independent agencies to determine which corporations are implementing best practices for consumer safety and then create regulations to impose those practices on other companies.
the government analyzes which companies make the most profit, indicating consumer approval of their performance on safety standards and then implement those companies’ practices as legal standards.
Essay Questions
71. What did the Food Safety Modernization Act (FSMA) do? Has it accomplished what it should have? Why or why not?
72. Compare the regulation of biotechnology in the United States to that of the European Union.
73. Explain the features of Section 402A of the Restatement of Torts (Second).
74. What are punitive damages?
75. Explain how injured parties can recover damages under the UCC.
76. Discuss Sugarman’s “Performance-based regulation.” Is this a viable means to create safer products or is it unnecessary government interference?
CHAPTER 9
Ownership, Creativity and Innovation: Intellectual Property
Questions
77. Debora Halbert asserts in her essay that:
women have benefited greatly from intellectual property laws.
intellectual property has historically benefited men more than women.
in the nineteenth century, writing poetry and novels enabled women to not only express themselves intellectually but to reap financial rewards as well.
when women knitted or quilted, they were reluctant to share their patterns with other women.
78. American copyright law creates a bundle of rights for the owner, including the right to reproduce, distribute, perform, display, or adapt the work.
True
False
79. In a lawsuit for copyright infringement, a defendant can avoid liability by successfully arguing _________, based on the notion that the free flow of ideas sometimes requires quoting or borrowing from a copyrighted work.
collective rights
misappropriation
unlimited use
fair use
80. If an author owns a copyright to a non-fiction essay, then publishes that essay in an anthology of similar essays published by a major publishing company, the rights involved in this relationship would be referred to as ______.
collective work
public domain
collective bargaining
joint domain
81. Once the copyright on a work has expired,
a. The owner can renew it for a new term
b. The work is in the public domain
c. The work becomes the property of the government
d. The work is considered no longer creative
82. The difference between the Project Gutenberg (PG) and the Google book scanning project is:
a. The PG limits itself to the “classics”
b. The PG limits itself to only works in the public domain
c. Google only digitizes full documents but the PG digitizes key segments
d. The PG limits itself to “orphan” works – those with hard-to-find authors or owners.
83. Nike’s swoosh, McDonald’s arches, and the Xerox name are all identifiable trademarks. Which of the following laws protect(s) them?
XXI. Lanham Trademark Act of 1946
XXII. Federal Trademark Dilution Revision Act of 2006
XXIII. Sonny Bono Act of 1998
I only
II only
I and II
II and III
84. In order to obtain a patent under U.S. Patent Law, an inventor must have an invention that is
I. Not obvious
II. Unique
III. Useful
IV. Not a modification of any prior patents
a. I only
b. I and II
c. I, II and III
d. I, II, III and IV
85. Trade secrets are registered just like trademarks.
a. True
b. False
Essay Questions
86. Discuss how intellectual property is different from other kinds of property.
87. What must a plaintiff prove to establish copyright infringement?
88. Give a brief description of the increased protection in U.S. Copyright laws starting in 1994 and using approximate dates.
89. Discuss the Fair Use Doctrine. What are the four statutory factors used to determine if a use is fair?
90. Why was the Digital Millennium Copyright Act passed?
91. Discuss U.S. patent law. Give examples of items that can and cannot be patented.
92. Give examples of improper ways to learning a trade secret under the Uniform Trade Secrets Act. Give an example of a way that is not considered improper or wrong.
n
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