Indiana University Bloomington

what is OSHA? - Answer Law that requires employers to provide their employees with working conditions that are free of known dangers; Sets and enforces protective workplace and safety health standards; Provides info, training, and assistance to workers and employees why does OSHA exist? - Answer Because until 1970, no uniform comprehensive provisions existed to protect against workplace safety and health hazards how many workers die on average from workplace injuries every day? - A...

horizontal equity - Answer When two similarly situated taxpayers are taxed the same vertical equity - Answer the idea that taxpayers with a greater ability to pay taxes should pay larger amounts corrective tax - Answer a tax designed to induce people to take account of the negative externalities they cause. i.e. gas, chemicals, etc. marginal tax rate - Answer the extra taxes paid on an additional dollar of income during an economic increase... - Answer withholding incr...

Human Resource Management - Answer the use of individuals to achieve organization objectives Staffing - Answer the process through which an organization ensures that it always has the proper number of employees with the appropriate skills in the right jobs, at the right time, to achieve organizational objectives Staffing includes: - Answer job analysis, human resource planning, recruitment, and selection HRM Functions (6) - Answer 1. Staffing 2. Human resource development ...

What is a treaty? A. an informal agreement between two or more nations B. a formal agreement between two heads of state C. an informal agreement between two heads of state D. a formal agreement between two or more nations - Answer D. a formal agreement between two or more nations Which word best describes early American foreign policy? A. internationalism B. imperialism C. isolationism D. militarism - Answer C. isolationism What geographic feature made early Americans conside...

Golden Rule of Infrastructure Budget - Answer Finance to support capital spending, maintaining the tax base of government entity Why have a capital budget? - Answer - Separate consideration of improving efficiency and equity of providing and financing non recurrent projects with long term service flows - Long life projects - Help stabilize tax rates - Capital projects are permanent - Capital Budgets are valuable tools for managing limited fiscal resources, especially plan activ...

How is Debt funded? - Answer •1) Treasury Bonds-Federal Gov't •2) Municipal Debt- State and Local Gov't Unfunded liabilties - Answer A debt in the future that does not have money set aside Government debt results from 3 conditions - Answer 1) covering deficits (annual expenditures in excess or revenues) 2) Financing capital projects 3) Covering short periods within a fiscal period in which bills exceed the cash on hand. What does rolled over mean? - Answer The...

tax base - Answer -deals with what the tax is being imposed on -ex.) income, payroll, consumption, sales, etc. tax - Answer a mandatory payment to the gov. for which no product or service is received collectability - Answer -how easy it is to collect a tax -its easier to pay taxes when its easy to figure out DWL when dealing with economic impacts - Answer -taxes create DWL -DWL grows with the square of the tax rate Regulatory and Environmental taxes - Answer deals w...

public finance Concerns the role of government in: - Answer -Allocatingresources; -Distributingincome& wealth; -Stabilizingtheeconomy. Government and Private Sector Focuses - Answer Private, for-profit (i.e.,"Proprietary") organizations that focus on maximizing the wealth of the owner(s)-shareholders. oGovernment (i.e.,"Public") organizations that focus on mission-centered goals, while at the same time maintaining a"satisfactory financial condition." oService o...

The three main distinguishing parts of a government - Answer 1) Payments to government are made by those who do not expect to receive repayment or economic benefits proportionate to the resources that are provided; (2) Purpose is other than to make profits, or profit equivalents; and, (3) There is an absence of defined ownership interests. Characteristics of the private sector (5) - Answer -Markets -Exchange -Property rights -Rights of exclusion -Appropriability - ability to captu...

Which of the following statements about federal government finances is not correct? -The federal government levies no general sales tax. -The federal government levies three general types of income taxes. - The corporate income tax is currently the second largest source of total revenue for the federal government. - None of the above. - Answer ANSWER: The corporate income tax is currently the second largest source of total revenue for the federal government. Which of the following ...