Question 1. If the government bans eating too much junk food, this might be characterized as:
Student Answer: legal moralism.
legal realism.
legal paternalism.
legal conventionalism
Question 2. Two cable companies propose a merger that would give them approximately 90% of the market share in a community. Which government agency would approve or reject this merger?
Student Answer: The FDA
The SPCA
The FTC
The SEC
Question 3. According to Adam Smith, individuals pursuing their self-interest leads to the most efficient and productive markets, all guided by:
Student Answer: supply and demand.
invisible hand.
government regulation.
community values.
Question 4. Bob hates his job, but unemployment is very high in his area and he cannot find another job. Marx might say:
Student Answer: Bob should quit his job anyway.
Bob is alienated from his labor.
Bob should be happy he has a job.
Bob will eventually come to like his job.
Question 5. Thomas Hobbes believes that most people in the state of nature would prefer:
Student Answer: wish to stay there because no one interferes with anyone else.
wish to leave it and join society because it is freer.
wish to leave it and join society because it is more secure and peaceful.
wish to stay there because there is nothing to fear in the state of nature.
Question 6. Jane is a corporate officer who, in negotiating with another company, makes misleading and even false statements to exaggerate her company's market share. Jane might be said to be:
Student Answer: engaged in bluffing.
engaged in arbitrage.
engaged in a boycott.
engaged in a hostile takeover.
Question 7. Moral relativism adopts the position that:
Student Answer: morality is grounded in universal truths.
morality is determined by majority vote.
morality is impossible and thus should be ignored.
morality is determined by individuals and communities.
Question 8. Ann runs a pottery studio out of her own home. Marx might say her labor is not alienated because:
Student Answer: she makes more money than working for a corporation.
she makes less money than working for a corporation.
she makes enough money to pay for health care.
she makes a creative expression of herself in her pottery.
Question 9. Frank invested $10,000 in a steel company that went out of business and had over a million dollars in outstanding debt. Frank only loses his $10,000 dollars due to:
Student Answer: limited credibility.
perpetual liability.
corporate personhood.
limited liability.
Question 10. Who is generally given credit for introducing fundamental human rights into the American political system?
Student Answer: Thomas Hobbes
John Locke
Thomas Jefferson
Alain Locke