Ch. 4 Social Responsibility of Business and Government

The Americans with Disabilities Act (ADA) requires that a company

• provide training to people with disabilities

• find ways to help workers who are physically challenged

• hire a certain number of people with special needs

• adapt products manufactured for special-needs customers

A code of ethics is designed to

• meet government regulations

• reduce operating costs of a company

• provide guidelines for proper behavior

• improve employee productivity

True or False. International trade with other countries is the responsibility of state and local governments.

• True

• False

Answer explanation

Any business that crosses a border is regulated by the federal government.

True or False. An verbal contract can be legally binding.

• True

• False

Answer explanation

Contracts do not have to be written.

Fire and police protection is the main responsibility of

• local government

• state government

• federal government

• all levels of government

A ______ would protect the rapper's new hit single.

• patent

• trademark

• copyright

• contract

Antitrust laws are designed to

• reduce utility rates

• lower taxes

• create more jobs

• maintain competition

A(n) _____ tax is a common source of revenue for state and local governments.

• sales

• import

• gift

• unemployment

True or False. A monopoly is never a benefit to consumers.

• True

• False

To be valid and enforceable, contracts must be in writing and signed by both parties.

• True

• False