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BUS 404 FINAL EXAM QUESTIONS AND 100% CORRECT ANSWERS (100% PASS GUARANTEED)
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BUS 404 FINAL EXAM QUESTIONS AND 100% CORRECT ANSWERS(100% PASS GUARANTEED)
Agency - Mark The best answer is any government unit other than the legislature and
the courts
Administrative Law - Mark The best answer governs agencies and addresses the entire
executive branch
Interstate Commerce Commission (ICC)
1887 - Mark established to regulate railroad routes and rates
Federal regulation became pervasive only in response to what? - Mark The Great
Depression of 1930's
Congress created the Securities and Exchange Commission - SEC, the Federal
Communications Commission - FCC, the Civil Aeronautics Board - CABabolished, and
the National Labor Relations Board - NLRB due to ____. -Answer the common perception
that the stock market crash and the Depression were evidence of the free market
failure.
The next major burst of regulatory activity came in the 1960's and 1970's when
Congress created such agencies as the Equal Employment Opportunity Commission
(EEOC-1965), the Environmental Protection Agency (EPA-1970), the Occupational
Safety and Health Administration (OSHA-1970) and the Consumer Product Safety
Commission (CPSC-1972).
the work of most of the early agencies was directed to - Answer controlling entire
industries such as transportation or communications and that the primary purpose of
most of those agencies was to address economic concerns
,1960s and 1970s, new agencies directed. - Answer directed not to economic issues but
to social reform in such areas as discrimination, the environment, job safety, and
product safety.
1980s free market enthusiasm - Answer led to concerted attempts to deregulate the
economy and lessen the impact of the federal agencies and the government as a whole.
Federal agencies are of two types - Answer executive and independent
Executive agencies - Answer are those that fall within the departments of the executive
branch of the government
Independent agencies include - Answer EPA, CPSC, EEOC, FDIC, FED, SBA, FTC, FCC
and SEC
of the executive agencies whereas the independent agencies. - Answer are supposed to
act with less fear of intrusion Congressional Independent agencies were established
through statutes called - Answer enabling laws To establish an agency. - Answer
-Congress identifies a problem and determines that it is not the proper body to make the
detailed decisions necessary to solve the specific elements of that problem
-The president appoints the administrator or the several commissioners who direct each
agency's affairs.
-Commissioners are appointed in staggered terms, typically of seven years' duration
Agency Responsibilities - Question 1. Control of Supply
2. Control of Rates
3. Control of Conduct
Control of Conduct - Question a. Information: Agencies frequently require businesses to
make consumer information public that otherwise would remain private. (Warning
labels)
b. Standards. When it is not enough to require the flow of information from those in the
, market, the government can prescribe minimum standards that the private sector must
comply with. (A ladder may be required to safely hold at least a specified weight)
c. Product Banishments. Products can be banned from the marketplace in extreme
cases.
The agencies act as mini-governments, exercising an altogether broad quasi-executive,
quasi-legislative rule-making, and quasi-judicial adjudicatory functions in controlling
supply, rates and conduct in major sectors of American life.
Agencies' Executive Functions: -to carry out the policy provided for in the enabling
legislation and in the agencies' own rules and regulations
-is to protect the public through assurance of compliance with laws and regulations
Legislative Functions of agencies - Answer agencies make rules that are laws; these
rules contain the detail necessary to implement the goals of the enabling legislation
Legislative Functions: Rules - Answer Agencies issue three kinds of rules: (1)
procedural, (2) interpretive, and (3) legislative
Procedural rules - Answer specify the agency's internal organizational structure and
procedures
Interpretive rules - Answer offer the agency's view of the meaning of those statutes for
which the agency has administrative responsibility Internal Revenue Service regulations
Legislative rules - Answer are policy expressions having the effect of law
Legislative Functions: The Rule-Making Process - Answer -informal often called "notice
and comment" and formal rule-making processes for legislative rules
Both approaches have the same step one: publication of a Notice of Proposed Rule
Making in the Federal Register
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