Chapter 4 Review
MC
• The single largest employer in the U.S. economy is
• (a) Microsoft
• (b) General Motors
• (c) state, local, and federal government
• (d) McDonald’s.
•C
True or false
• The U.S. government does not play a major role in the American
economy.
• False
MC
• Copyright protection lasts for
• (a) the life of the copyright holder, plus 70 years after the
• copyright holder’s death
• (b) the life of the copyright holder
• (c) 17 years
• (d) 50 years.
•A
True or false
• Principles of morality or rules of conduct are called ethics.
• True
MC
• Removing workplace barriers for women and accommodating
employees who are physically challenged are ways a business can
contribute to
• (a) environmental protection
• (b) job safety
• (c) workplace diversity
• (d) employee wellness.
•C
True or false
• OSHA is a federal agency that regulates workplace safety standards.
• True
MC
• All of the following are benefits of socially responsible activities
EXCEPT
• (a) enhanced company image
• (b) money spent for wellness program may reduce company profits
• (c) reduced need for government regulations
• (d) improved quality of life.
•B
True or false
• Lumber is an example of a nonrenewable resource.
• False
MC
• A set of rules guiding the actions of employees is called a(n)
• (a) code of ethics
• (b) mission statement
• (c) organization chart
• (d) statement of purpose.
•A
True or false
• Government income is called revenue
• True
MC
• Contracts
• (a) must be written to be valid
• (b) can be entered into by any two U.S. citizens
• (c)need not be accepted to be valid
• (d) must be for a product or service that can be legally sold.
•D
True or false
• A trademark is a word, letter, or symbol linked with a specific
company or product.
• True
MC
• Government is mainly concerned with all of the following EXCEPT
• (a) raising revenue
• (b) buying goods and services
• (c) hiring private-sector workers
• (d) regulating utilities.
•C
True or false
• All public utility companies are owned and operated by state
governments.
• False
True or false
• A monopoly exists when a business has control of the market for a
product or service.
• True
MC
• Government attempts to prevent monopolies with
• (a) free-trade zones
• (b) antitrust laws
• (c) right-to-work laws
• (d) enterprise zones.
•B
True or false
• Your computer is an example of intellectual property.
• False
MC
• A(n) ___ is an example of a public utility.
• (a) professional baseball team
• (b) fire department
• (c) insurance company
• (d) electric company.
•D
True or false
• Most goods and services you sue are provided by the U.S.
government.
• False
MC
• The tax levied on the money you earn at your job is called
• (a) luxury tax
• (b) income tax
• (c) sales tax
• (d) inheritance tax.
•B
Matching
• contract
• interstate commerce
• intrastate commerce
• copyright
• conditions of work
• pollution
• property tax
• sales tax
• conservation
• patent
Fill in the blank
• ____ _____refers to the duty of a business to contribute to the wellbeing of a community.
• A(n) _____ __ _____ occurs when an individual’s or company’s
actions result in an unfair benefit.
• The four elements of a legal contract are agreement, competent
parties, legality, and _____.
• A(n) __________is an organization that supplies a service or product
vital to all people.
• _____ laws prevent such practices as false advertising and misleading
labeling.