Question

37.In case of a proposed highway project, the courts continued to insist that the authorities had not focused on the impact of the project on a hospital in its neighborhood. The courts felt that the patients would be disturbed by the proposed project. The above is an example of:

Select one:

a. an aesthetic argument.

b. social fairness.

c. an environmental impact statement.

d. externalities.

e. incentives.

38.Which of the following statements holds true for the concept of reasonable consumer standard?

Select one:

a. It refers to an unwritten agreement formed between sellers and buyers as a function of their transaction.

b. It refers to the identification of consumers with the products he or she buys and an accompanying need to buy in order to exist.

c. It refers to a presumption that protections against deceitful advertising should only be extended to cover marketing efforts that would significantly mislead any consumer, including those much less sophisticated or experienced than typical buyers.

d. It refers to the consumers’ right to sue manufacturers for injuries caused by a defective product.

e. It refers to a presumption that protections against deceitful advertising should only be extended to cover marketing efforts that would significantly mislead a thoughtful, moderately experienced consumer.

39.Meg is a doctor by profession, but her real interest lies in water surfing. She limits the time that she spends as a medical professional, and tries to earn enough that would enable her to pursue her interest in water surfing. Meg’s attitude serves as an example of:

Select one:

a. institutionalism.

b. internationalism.

c. instrumentalism.

d. intellectualism.

e. insularism.

40.Which of the following statements holds true for the term, bribe?

Select one:

a. It refers to sum of money paid to a new employee by a company as an incentive to join that company.

b. It refers to a part of a contractually due sum that is paid in advance for services to be rendered.

c. It refers to a sum of money offered by hiring firms if the hired joins the company from a rival firm.

d. It refers to a system of payment for the temporary use of something owned by someone else.

e. It refers to something of value given to an individual to corrupt his or her professional judgment.

Answer 1

37.Externality

It is the cost or benefit that effect the third party in which the party intentionally did not choose for that cost or benefit.

So option d is correct.

38.Resonable consumer standard

Manufacturer should maintain good quality standards in providing the product if not consumer have a right to sue the manufacturer.

So option d is correct.

39.Intellectualism means person who engages themselves in self satisfaction.

So option is d.

40.Bride is refers to something value given to an individual to corrupt his or her professional judgement.

So option e is correct.