QUESTION Labor unions are organizations of employers formed to protect and advance their members’ interests by bargaining with employees over job-related issues. Indicate whether the statement is true or false. ANSWER Answer: FALSE Explanation: Labor unions are organizations of employees formed to protect and advance their members’ interests by bargaining with management over job-related […]
QUESTION Juanita flew down to Florida to sail her newly purchased yacht back home to Rhode Island. Before she left Florida, she stocked her boat with alcoholic beverages. What taxes did Juanita have to pay on this whole trip? Explain. What will be an ideal response? ANSWER Answer: Juanita had to pay excise taxes […]
QUESTION Which of the following, if true, weakens Weinstock’s argument? A) The Legal Division consumes more office supplies per person than any other department. B) Beginning lawyers require a great deal of supervision before they can contribute effectively. C) The Legal Division could be reorganized so that each manager supervises matters related to a single […]
QUESTION What are the three main purposes for which taxes are used? What will be an ideal response? ANSWER Answer: Taxes are used to pay for public services, such as schools, roads, and public safety. They are used to discourage certain behavior. Taxes on cigarettes and alcohol are meant to discourage smoking and drinking […]
QUESTION Hollister’s response suggests that he unreasonably assumes which of the following? A) Any attempt to reduce the personnel costs of the Legal Division cannot succeed. B) The number of managers in the Legal Division cannot be reduced. C) There can be no change in the number of employees supervised by Legal Division managers. D) […]
QUESTION Which of the four most important antitrust laws was set up primarily as a way to help enforce other antitrust laws? Explain. What will be an ideal response? ANSWER Answer: The Federal Trade Commission Act of 1914 established the Federal Trade Commission, which has the power to define unfair competition and to issue […]
QUESTION Agencies such as the Environmental Protection Agency, the Equal Employment Opportunity Commission, the Federal Trade Commission, and the Food and Drug Administration are designed to keep big business in line. What type of agency are they? What will be an ideal response? ANSWER Answer: These agencies are regulatory agencies, created to keep big […]
QUESTION MaryBeth has credit card debt of about $80,000. She also has unpaid medical bills totalling nearly $60,000 and has not been working because of illness. Her house is worth about $275,000, but she has nearly $230,000 left to pay on the mortgage. Her household furnishings are worth about $60,000. If MaryBeth’s creditors took her […]
QUESTION Which of the following statements, if true, supports the vice president’s argument? A) Ocean Spray would get an immediate court injunction against Cranberry Bog because the name is a clear copyright infringement on “Craisins.” B) It is a catchy name that hints at the unique flavors being introduced. C) Some consumers might not tie […]
QUESTION The two sides reach an impasse, with the union demanding more expensive safety measures than management feels are necessary. If the two sides opt for arbitration as the next step, which of the following should both sides take care to do? A) Gain popular support for their position through carefully chosen media exposure. B) […]
