Governments Role In Business Flashcards
Corporate income taxes are not imposed by which of the following? State Governments Local Governments Foreign Governments Universal Government
Not Universal Government
Who pays income taxes US Citizens Sole Proprietorships Partnerships All of the above
All of the above
Sales taxes are not added to which of the following? Goods Services Property Merchandise
Not property
Which of the following is an example of an item with excise tax? A)Gasoline B)Clothing C)Produce D)Processed snack foods
Gasoline
Which of the following is the term for a special tax placed on foreign goods sold in the United States?
Tariffs
Which of the following is Not information published by the government? A ) Forbes 40 under 40 B) Rate of Inflation C) Unemployment statistics D) Funding for retraining of workers
Forbes 40 under 40
Which of the following is Not an Example of protecting consumers?
A)Consumer Price Fixing Commission
B)Consumer Product Safety Commission
C)Fair Packaging and Labeling Act
D)Fair Credit Reporting Act
A) Consumer Price Fixing Commission
Which of the following is Not regulated by the government? A) Local Employee agencies B) Public Schools C) Private Schools D) Funding for retraining of workers
C) Private schools
Which of the following is true of the Federal Trade Commission
A) Demotes fair competition
B) prevents monopolies
C) breaks up companies with control of market
D) prevents false/deceptive advertising
D) Prevents false/deceptive advertising
Which of the following is not true of the government?
A) It increases/decreases tax rates
B) It controls retirement for all US citizens
C) It regulates the amount of money in the economy with the Federal Reserve Bank
D) It negotiates international treaties and trade agreements
B) It controls retirement for all US citizens
Which of the following is Not one of the three branches of government? A)Sheriffs Branch B)Executive branch C)Legislative Branch D)Judicial branch
A) Sheriff’s branch
Statutory Law is written by which branch of the government A) Administrative branch B) Executive branch C) Legislative branch D) Judicial Branch
C)Legislative branch
Where did commonly law begin? A)France B)England C)Italy D)Spain
B)England
When union representatives and management come together to discuss issues between employees and employers it is known as which of the following?
A) collective bargaining C) union strike
B) glass ceiling
D)affirmative action
A) Collective bargaining
The Taft-Hartley Act of 1947 legalized which of the following? A)Labor unions B)featherbedding C) closed shops D) right to work laws
D)Right to work laws
ShermanAntitrust Act
Allows government to break up companies with control of a market;prevents monopolies
Clayton Antitrust Act
Passed to amend and clarify the Sherman Anti-trust Act
Federal Trade Commission Act of 1915
Established the Federal Trade Commission
Federal Trade Commission
Promotes fair competition; prevents false/deceptive advertising
Regulation
When a government sets strict rules affecting businesses within certain industries
Deregulation
The removal or relaxation of the rules affecting businesses within certain industries
Small business Administration
Provides low cost loans advice and other assistance to small business
Environmental Protecting Agency
Created to protect the natural environment in which we live; stresses clean air, land and water; creates laws to prevent businesses from harming the environment
Personal income tax
Percentage of total income deducted from your paycheck;graduated tax
