Reading 15- LOS b ～ Q1－4

social, regarding, following, currently, statements

1.Which of the following statements regarding social regulation is FALSE?
A)    Some form of social regulation currently exists in all industries in the United States.
B)    Compliance with social regulation generally increases a company’s cost of production.
C)    Two of the primary goals of social regulation are increased product quality and improved workplace conditions.
D)    The benefits of social regulation are easily recognized and can be accurately quantified.

2.All of the following are negative consequences associated with social regulation EXCEPT:
A)    increased unemployment.
B)    higher production costs.
C)    a decline in industry competitiveness.
D)    increased consumer prices.

3.All of the following are benefits associated with social regulation EXCEPT:
A)    a less polluted environment.
B)    lower consumer prices.
C)    better working conditions for employees.
D)    safer, higher-quality products and services.

4.A firm that disagrees with a particular regulation and attempts to avoid it by complying with the specifics of the law but not the intent of the law is demonstrating:
A)    social regulation.
B)    deregulation.
C)    creative response.
D)    the capture hypothesis.

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发表于 2008-4-12 17:01 | 只看该作者

1.Which of the following statements regarding social regulation is FALSE?
A) Some form of social regulation currently exists in all industries in the

United States

.
B)    Compliance with social regulation generally increases a company’s cost of production.
C)    Two of the primary goals of social regulation are increased product quality and improved workplace conditions.
D)    The benefits of social regulation are easily recognized and can be accurately quantified.
The correct answer was D)
It is difficult to measure the benefits of social regulation because they may be qualitative rather than quantitative in nature, and the benefits may be spread out over time.

2.All of the following are negative consequences associated with social regulation EXCEPT:
A)    increased unemployment.
B)    higher production costs.
C)    a decline in industry competitiveness.
D)    increased consumer prices.
The correct answer was A)
While some aspects of social regulation may increase a company’s expense per worker, increased unemployment is generally not associated with social regulation.

3.All of the following are benefits associated with social regulation EXCEPT:
A)    a less polluted environment.
B)    lower consumer prices.
C)    better working conditions for employees.
D)    safer, higher-quality products and services.
The correct answer was B)
Increased regulation tends to causes consumer prices to rise, because producers will generally pass any expenses associated with compliance on to consumers in the form of higher prices.

4.A firm that disagrees with a particular regulation and attempts to avoid it by complying with the specifics of the law but not the intent of the law is demonstrating:
A)    social regulation.
B)    deregulation.
C)    creative response.
D)    the capture hypothesis.
The correct answer was C)
Creative response describes the actions of a firm that for whatever reason, economic or philosophical, is trying to avoid full compliance with a regulation without any obvious violations of the law. Though technically in compliance, the firm is violating the spirit of the regulation.

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Reading 15- LOS b ～ Q1－4

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