Professional Documents
Culture Documents
Full Download Managers and The Legal Environment 9th Edition Bagley Test Bank
Full Download Managers and The Legal Environment 9th Edition Bagley Test Bank
https://testbankfan.com/download/managers-and-the-legal-environment-9th-edition-b
agley-test-bank/
2. Private law provides the legal rules within which firms compete.
a. True
b. False
4. The cost to firms for acting responsibly is often significantly less than the greater restrictions and costs imposed on
them as a response to misdeeds or acting irresponsibly.
a. True
b. False
5. Lobbying legislators is one method by which managers can help shape the environment in which they do business.
a. True
b. False
6. Legal astuteness is a valuable managerial capability through which managers work effectively with counsel to solve
complex problems and leverage resources to sustain competitive advantage.
a. True
b. False
7. Promoting economic growth is one of the primary public policy objectives of laws and regulations applicable to
business.
a. True
b. False
8. Worker protection has not been a major public policy concern underlying U.S. business law.
a. True
b. False
9. A firm's illegal conduct has no bearing on the firm's competitive advantage because it does not necessarily divert funds
from strategic investments or affect its image and reputation with its customers.
a. True
b. False
10. Researchers found a statistically significant inverse relationship between a country's economic prosperity, as measured
by the per capita gross domestic product, and the country's judicial independence.
a. True
b. False
12. Entering into nondisclosure agreements is an unethical practice that should not be tolerated by a legally astute
manager.
a. True
b. False
13. A legally astute manager would take a proactive approach to legal issues and relevant regulations.
a. True
b. False
14. The potential for legal analysis to be ambiguous means that even the most skilled and experienced advisers and
lawyers sometimes get it wrong.
a. True
b. False
16. The center of operations for the European Union is located in Brussels, Belgium.
a. True
b. False
17. According to the text, adequate protection of minority shareholder rights increases investment in new ventures.
a. True
b. False
18. Under the resource-based view of a business firm, a firm's resources can be a source of sustained competitive
advantage if they are valuable, rare, and perfectly imitable by competitors.
a. True
b. False
19. Self-regulation within the advertising industry has been largely successful in making any bans on deceptive
advertising unnecessary.
a. True
b. False
20. The Systems Approach recognizes that law is dynamic, as opposed to static.
a. True
b. False
21. J.P. Morgan Chase's "Sons and Daughters" hiring program, involving hiring children of China's ruling elite, was
Copyright Cengage Learning. Powered by Cognero. Page 2
Name: Class: Date:
22. Private property rights provide one area in which laws and regulations can promote economic growth.
a. True
b. False
23. Which of the following is NOT one of the four primary public policy objectives furthered by laws and regulations
applicable to U.S. business?
a. Promoting economic growth
b. Protecting workers
c. Promoting consumer welfare
d. Promoting governmental regulation
25. The __________ approach recognizes that "business decisions consist of continuous, interrelated economic and moral
components."
a. procedural
b. systems
c. conciliatory
d. mandated
26. The __________ theory recognizes that firms have relationships with many constituent groups which both affect and
are affected by the actions of the firm.
a. stakeholder
b. stockholder
c. relational
d. cohesive
27. The __________ was enacted after widespread abuses in the subprime mortgage market.
a. Walsh-Healy Mortgage Reformation and Consumer Protection Act of 2009
b. Mortgage Lending and Financial Reform Act of 2009
c. Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
d. Financial Institution Regulatory Pronouncement and Consumer Revision Act of 2010
IN MEMORIAM.
Mr. President: For the second time in this generation the great
departments of the Government of the United States are assembled
in the Hall of Representatives to do honor to the memory of a
murdered President. Lincoln fell at the close of a mighty struggle in
which the passions of men had been deeply stirred. The tragical
termination of his great life added but another to the lengthened
succession of horrors which had marked so many lintels with the
blood of the first born. Garfield was slain in a day of peace, when
brother had been reconciled to brother, and when anger and hate
had been banished from the land. “Whoever shall hereafter draw the
portrait of murder, if he will show it as it has been exhibited where
such example was last to have been looked for, let him not give it the
grim visage of Moloch, the brow knitted by revenge, the face black
with settled hate. Let him draw, rather, a decorous smooth-faced,
bloodless demon; not so much an example of human nature in its
depravity and in its paroxysms of crime, as an infernal being, a fiend
in the ordinary display and development of his character.”
GARFIELD’S ANCESTORS.
“It did not happen to me to be born in a log cabin, but my elder brothers and
sisters were born in a log cabin raised amid the snow drifts of New Hampshire, at a
period so early that when the smoke rose first from its rude chimney and curled
over the frozen hills there was no similar evidence of a white man’s habitation
between it and the settlements on the rivers of Canada. Its remains still exist. I
make to it an annual visit. I carry my children to it to teach them the hardships
endured by the generations which have gone before them. I love to dwell on the
tender recollections, the kindred ties, the early affections and the touching
narratives and incidents which mingle with all I know of this primitive family
abode.”
With the requisite change of scene the same words would aptly
portray the early days of Garfield. The poverty of the frontier, where
all are engaged in a common struggle and where a common
sympathy and hearty co-operation lighten the burdens of each, is a
very different poverty, different in kind, different in influence and
effect from that conscious and humiliating indigence which is every
day forced to contrast itself with neighboring wealth on which it feels
a sense of grinding dependence. The poverty of the frontier is indeed
no poverty. It is but the beginning of wealth, and has the boundless
possibilities of the future always opening before it. No man ever grew
up in the agricultural regions of the West, where a house-raising, or
even a corn-husking, is a matter of common interest and helpfulness,
with any other feeling than that of broad-minded, generous
independence. This honorable independence marked the youth of
Garfield as it marks the youth of millions of the best blood and brain
now training for the future citizenship and future government of the
republic. Garfield was born heir to land, to the title of freeholder
which has been the patent and passport of self-respect with the
Anglo-Saxon race ever since Hengist and Horsa landed on the shores
of England. His adventure on the canal—an alternative between that
and the deck of a Lake Erie schooner—was a farmer boy’s device for
earning money, just as the New England lad begins a possibly great
career by sailing before the mast on a coasting vessel or on a
merchantman bound to the farther India or to the China Seas.
No manly man feels anything of shame in looking back to early
struggles with adverse circumstances, and no man feels a worthier
pride than when he has conquered the obstacles to his progress. But
no one of noble mould desires to be looked upon as having occupied
a menial position, as having been repressed by a feeling of inferiority,
or as having suffered the evils of poverty until relief was found at the
hand of charity. General Garfield’s youth presented no hardships
which family love and family energy did not overcome, subjected him
to no privations which he did not cheerfully accept, and left no
memories save those which were recalled with delight, and
transmitted with profit and with pride.
Garfield’s early opportunities for securing an education were
extremely limited, and yet were sufficient to develop in him an
intense desire to learn. He could read at three years of age, and each
winter he had the advantage of the district school. He read all the
books to be found within the circle of his acquaintance; some of them
he got by heart. While yet in childhood he was a constant student of
the Bible, and became familiar with its literature. The dignity and
earnestness of his speech in his maturer life gave evidence of this
early training. At eighteen years of age he was able to teach school,
and thenceforward his ambition was to obtain a college education.
To this end he bent all his efforts, working in the harvest field, at the
carpenter’s bench, and, in the winter season, teaching the common
schools of the neighborhood. While thus laboriously occupied he
found time to prosecute his studies and was so successful that at
twenty-two years of age he was able to enter the junior class at
Williams College, then under the presidency of the venerable and
honored Mark Hopkins, who, in the fullness of his powers, survives
the eminent pupil to whom he was of inestimable service.
The history of Garfield’s life to this period presents no novel
features. He had undoubtedly shown perseverance, self-reliance,
self-sacrifice, and ambition—qualities which, be it said for the honor
of our country, are everywhere to be found among the young men of
America. But from his graduation at Williams onward, to the hour of
his tragical death, Garfield’s career was eminent and exceptional.
Slowly working through his educational period, receiving his
diploma when twenty-four years of age, he seemed at one bound to
spring into conspicuous and brilliant success. Within six years he
was successively president of a college, State Senator of Ohio, Major
General of the Army of the United States and Representative-elect to
the National Congress. A combination of honors so varied, so
elevated, within a period so brief and to a man so young, is without
precedent or parallel in the history of the country.
IN THE ARMY.
IN CONGRESS.
GARFIELD’S INDUSTRY.
Under it all he was calm, and strong, and confident; never lost his
self-possession, did no unwise act, spoke no hasty or ill-considered
word. Indeed nothing in his whole life is more remarkable or more
creditable than his bearing through those five full months of
vituperation—a prolonged agony of trial to a sensitive man, a
constant and cruel draft upon the powers of moral endurance. The
great mass of these unjust imputations passed unnoticed, and, with
the general debris of the campaign, fell into oblivion. But in a few
instances the iron entered his soul and he died with the injury
unforgotten if not unforgiven.
One aspect of Garfield’s candidacy was unprecedented. Never
before in the history of partisan contests in this country had a
successful Presidential candidate spoken freely on passing events
and current issues. To attempt anything of the kind seemed novel,
rash, and even desperate. The older class of voters recalled the
unfortunate Alabama letter, in which Mr. Clay was supposed to have
signed his political death-warrant. They remembered also the hot-
tempered effusion by which General Scott lost a large share of his
popularity before his nomination, and the unfortunate speeches
which rapidly consumed the remainder. The younger voters had seen
Mr. Greeley in a series of vigorous and original addresses, preparing
the pathway for his own defeat. Unmindful of these warnings,
unheeding the advice of friends, Garfield spoke to large crowds as he
journeyed to and from New York in August, to a great multitude in
that city, to delegations and deputations of every kind that called at
Mentor during the summer and autumn. With innumerable critics,
watchful and eager to catch a phrase that might be turned into odium
or ridicule, or a sentence that might be distorted to his own or his
party’s injury, Garfield did not trip or halt in any one of his seventy
speeches. This seems all the more remarkable when it is remembered
that he did not write what he said, and yet spoke with such logical
consecutiveness of thought and such admirable precision of phrase
as to defy the accident of misreport and the malignity of
misrepresentation.
AS PRESIDENT.