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Exam 21: Appendix A: Using Technology to Manage Information

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Question 21

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The Robinson-Patman Act prohibits price discrimination in all transactions except business-to-business transactions.

A) True
B) False

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Question 22

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Under the doctrine of strict product liability,a manufacturer can be held liable:

A) even if when the product was introduced everyone agreed it was safe.
B) only if the firm knowingly sold a hazardous product.
C) only if the firm purposefully was negligent in the design or production of the product.
D) only if the firm intentionally introduced a defective product.

E) A) and B)
F) A) and C)

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Question 23

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The Nike Swoosh and the Golden Arches of McDonald's are examples of a:

The purpose of the Sherman Antitrust Act was to:

The Class Action Fairness Act is a first step toward setting limits on the amount of damages for which companies are liable should their products harm consumers.

Allison is concerned that she is not getting full disclosure of information from a mortgage broker who is hoping to refinance the mortgage on her house.Having recently studied business law,you suggest to Allison that she contact the ________________________ that was formed after the Dodd-Frank Wallstreet Reform and Consumer Protection Act became law.

Businesses today prefer to have the government set the standards for acceptable behavior.

Negotiable instruments are forms of commercial paper.

The changing nature of U.S.business from manufacturing to knowledge technology has led to the call for new levels of regulation from federal agencies.

Consumerism is a social movement that seeks to increase and to strengthen the rights and powers of buyers in relation to sellers.

Mini-Case Brian and Sondra have just opened a new Cajun restaurant on the edge of town,Cajun Cookin' Inc.They own the land and building and have a brand-new kitchen as well as a lovely seating area,filled with mementos from the South.They have a liquor license and make wonderful Southern drinks.They are quite pleased that members of the community are helping their business grow by coming in for a meal or a drink after work.They are good businesspeople who pay their bills on time and as a result have great relationships with the vendors that supply them food. -One day as Brian was speaking with one of his customers a shriek went up from the other side of the restaurant.When he rushed over,he found that one of his customers had spilled hot tea on her arm.If this customer was so inclined,she could __________ and the court would likely find in her favor.

The American Inventor's Protection Act requires patent applications to be made public after 18 months regardless of whether a patent has been granted.

Chapter 7 bankruptcy requires the sale of the nonexempt assets of debtors.

Most bankruptcies today are involuntary because creditors want to retrieve as much of their money as possible.

The U.S.court system is organized solely at the federal and state levels.

Utilizing the bankruptcy laws,Yankee Distribution petitioned the court to reorganize and continue operations while paying only a limited proportion of its current debts.This represents an example of a Chapter ________ bankruptcy.

The rule of strict product liability holds a firm liable for a defective product only if the firm knowingly placed a hazardous product on the market.

Who owns the copyright of a cartoon character created by an employee of a firm as part of their normal job responsibilities?

The Sherman Antitrust Act was designed to prevent large businesses from stifling the competition of smaller or newer firms.

Which of the following is true of a copyright?