Question 1

John Kenneth Galbraith rejects the assumption that Smith's invisible hand will solve all social and economic problems.

Accepted Answer

A) True 
 B)False

Question 2

Most Americans believe a corporation's top obligation is to its

Accepted Answer

A) nation. 
B) stockholders. 
C) community. 
D) employees. 
A) nation. 
B) stockholders. 
C) community. 
D) employees.

Question 3

Milton Friedman argues that

Accepted Answer

A) corporations today should adopt a broader view of their social responsibilities than they have in the past. 
B) corporate officials have a social responsibility that goes beyond serving the interests of their stockholders. 
C) strict governmental controls are necessary if society is to maximize its overall economic well-being. 
D) a business's only social responsibility is to maximize profits within the rules of the game. 
A) corporations today should adopt a broader view of their social responsibilities than they have in the past. 
B) corporate officials have a social responsibility that goes beyond serving the interests of their stockholders. 
C) strict governmental controls are necessary if society is to maximize its overall economic well-being. 
D) a business's only social responsibility is to maximize profits within the rules of the game.

Question 4

Which of the following is one of the three arguments in favor of narrow corporate social responsibility discussed in Chapter 5?

Accepted Answer

A) business-can-handle-it 
B) let-government-do-it 
C) society-lacks-the-expertise 
D) visible-hand 
A) business-can-handle-it 
B) let-government-do-it 
C) society-lacks-the-expertise 
D) visible-hand

Question 5

One of the three important "limits to what the law can do" discussed by Christopher Stone is

Accepted Answer

A) laws are passed before there is any real problem to worry about. 
B) consumers don't want further legal regulation. 
C) designing effective regulations is difficult. 
D) regulators are often "bought off" by corporations. 
A) laws are passed before there is any real problem to worry about. 
B) consumers don't want further legal regulation. 
C) designing effective regulations is difficult. 
D) regulators are often "bought off" by corporations.

Question 6

Legally a corporation is a thing that can endure beyond the natural lives of its members and that has incorporators who may sue and be sued as a unit and who are able to consign part of their property to the corporation for ventures of limited liability.

Accepted Answer

A) True 
 B)False

Question 7

Externalities are

Accepted Answer

A) always positive,never negative. 
B) a blessing in disguise in inflationary times. 
C) an inevitable by-product of social responsibility. 
D) unintended side-effects. 
A) always positive,never negative. 
B) a blessing in disguise in inflationary times. 
C) an inevitable by-product of social responsibility. 
D) unintended side-effects.

Question 8

The best statement concerning corporations is

Accepted Answer

A) corporations don't need moral codes. 
B) corporate culture refers to the cultural activities sponsored by the company for its employees. 
C) pollution caused by corporations isn't an externality. 
D) corporate culture can be both explicit and implicit. 
A) corporations don't need moral codes. 
B) corporate culture refers to the cultural activities sponsored by the company for its employees. 
C) pollution caused by corporations isn't an externality. 
D) corporate culture can be both explicit and implicit.

Question 9

Internal or external corporate responsibility audits can help improve a corporation's "corporate culture."

Accepted Answer

A) True 
 B)False

Question 10

The idea that corporations will impose their values on us supports one of the arguments for the narrow view of corporate social responsibility.

Accepted Answer

A) True 
 B)False

Question 11

Manuel Velasquez claims that the corporate internal decision structure of a corporation shows that a corporation can have both intentions and intentionality.

Accepted Answer

A) True 
 B)False

Question 12

In Citizens United v.Federal Elections Commission,the U.S.Supreme Court

Accepted Answer

A) defined the free-speech rights of corporations for the first time. 
B) defended the first Amendment right of corporations to spend money to support political candidates they favor. 
C) said that banking procedures are to be regulated by the Securities and Exchange Commission. 
D) said that states should be permitted to distinguish between the rights of individuals and the rights of corporations. 
A) defined the free-speech rights of corporations for the first time. 
B) defended the first Amendment right of corporations to spend money to support political candidates they favor. 
C) said that banking procedures are to be regulated by the Securities and Exchange Commission. 
D) said that states should be permitted to distinguish between the rights of individuals and the rights of corporations.

Question 13

Explain the relevance of the concept of a fiduciary relationship to the debate over corporate social responsibility.

Accepted Answer

The concept of a fiduciary relationship

Question 14

Melvin Anshen suggests that there is a relationship between business and society which he termed as

Accepted Answer

A) "share the wealth." 
B) "the rich get richer and the poor get poorer." 
C) "social contract." 
D) "one for all and all for one." 
A) "share the wealth." 
B) "the rich get richer and the poor get poorer." 
C) "social contract." 
D) "one for all and all for one."

Question 15

Which of the following do advocates of the broader view of corporate social responsibility believe?

Accepted Answer

A) Corporations should not internalize their externalities. 
B) Moral responsibility arises from social power. 
C) Corporations have moral obligations to consumers,to employees,to suppliers and contractors,to the surrounding community,and to society at large. 
D) The moral contract between business and society has changed since the 19th century. 
A) Corporations should not internalize their externalities. 
B) Moral responsibility arises from social power. 
C) Corporations have moral obligations to consumers,to employees,to suppliers and contractors,to the surrounding community,and to society at large. 
D) The moral contract between business and society has changed since the 19th century.

Question 16

A corporate moral code should set reasonable goals and subgoals,with an eye on blunting unethical pressures on subordinates.

Accepted Answer

A) True 
 B)False

Question 17

An effective professional or business moral code¾as well as the public's awareness of this code¾is never good for business.

Accepted Answer

A) True 
 B)False

Question 18

According to Keith Davis,in addition to considering potential profitability,a business must weigh the long-range social costs of its activities as well.A business should act only if the overall benefit to society is positive.

Accepted Answer

A) True 
 B)False

Question 19

Adam Smith proposed that in our pursuit of economic interests we are led by

Accepted Answer

A) our gut instincts. 
B) an invisible hand to promote general good. 
C) the trends of the economy. 
D) the moral compass within each of us. 
A) our gut instincts. 
B) an invisible hand to promote general good. 
C) the trends of the economy. 
D) the moral compass within each of us.

Question 20

The invisible-hand argument against broadening corporate responsibility says that business's appetite for profit should be controlled by the hand of the government.

Accepted Answer

A) True 
 B)False

John Kenneth Galbraith rejects the assumption that Smith's invisible hand will solve all social and economic problems.

Most Americans believe a corporation's top obligation is to its

Milton Friedman argues that

Which of the following is one of the three arguments in favor of narrow corporate social responsibility discussed in Chapter 5?

One of the three important "limits to what the law can do" discussed by Christopher Stone is

Legally a corporation is a thing that can endure beyond the natural lives of its members and that has incorporators who may sue and be sued as a unit and who are able to consign part of their property to the corporation for ventures of limited liability.

Externalities are

The best statement concerning corporations is

Internal or external corporate responsibility audits can help improve a corporation's "corporate culture."

The idea that corporations will impose their values on us supports one of the arguments for the narrow view of corporate social responsibility.

Manuel Velasquez claims that the corporate internal decision structure of a corporation shows that a corporation can have both intentions and intentionality.

In Citizens United v.Federal Elections Commission,the U.S.Supreme Court

Explain the relevance of the concept of a fiduciary relationship to the debate over corporate social responsibility.

Melvin Anshen suggests that there is a relationship between business and society which he termed as

Which of the following do advocates of the broader view of corporate social responsibility believe?

A corporate moral code should set reasonable goals and subgoals,with an eye on blunting unethical pressures on subordinates.

An effective professional or business moral code¾as well as the public's awareness of this code¾is never good for business.

According to Keith Davis,in addition to considering potential profitability,a business must weigh the long-range social costs of its activities as well.A business should act only if the overall benefit to society is positive.

Adam Smith proposed that in our pursuit of economic interests we are led by

The invisible-hand argument against broadening corporate responsibility says that business's appetite for profit should be controlled by the hand of the government.

The Nature of Morality

Normative Theories of Ethics

Justice and Economic Distribution

The Nature of Capitalism

Consumers

The Environment

The Workplace 1: Basic Issues

The Workplace 2: Todays Challenges

Moral Choices Facing Employees

Job Discrimination

Filters

Exam 5: Corporations

John Kenneth Galbraith rejects the assumption that Smith's invisible hand will solve all social and economic problems.

Most Americans believe a corporation's top obligation is to its

Milton Friedman argues that

Which of the following is one of the three arguments in favor of narrow corporate social responsibility discussed in Chapter 5?

One of the three important "limits to what the law can do" discussed by Christopher Stone is

Legally a corporation is a thing that can endure beyond the natural lives of its members and that has incorporators who may sue and be sued as a unit and who are able to consign part of their property to the corporation for ventures of limited liability.

Externalities are

The best statement concerning corporations is

Internal or external corporate responsibility audits can help improve a corporation's "corporate culture."

The idea that corporations will impose their values on us supports one of the arguments for the narrow view of corporate social responsibility.

Manuel Velasquez claims that the corporate internal decision structure of a corporation shows that a corporation can have both intentions and intentionality.

In Citizens United v.Federal Elections Commission,the U.S.Supreme Court

Explain the relevance of the concept of a fiduciary relationship to the debate over corporate social responsibility.

Melvin Anshen suggests that there is a relationship between business and society which he termed as

Which of the following do advocates of the broader view of corporate social responsibility believe?

A corporate moral code should set reasonable goals and subgoals,with an eye on blunting unethical pressures on subordinates.

An effective professional or business moral code¾as well as the public's awareness of this code¾is never good for business.

According to Keith Davis,in addition to considering potential profitability,a business must weigh the long-range social costs of its activities as well.A business should act only if the overall benefit to society is positive.

Adam Smith proposed that in our pursuit of economic interests we are led by

The invisible-hand argument against broadening corporate responsibility says that business's appetite for profit should be controlled by the hand of the government.

The Nature of Morality

Normative Theories of Ethics

Justice and Economic Distribution

The Nature of Capitalism

Consumers

The Environment

The Workplace 1: Basic Issues

The Workplace 2: Todays Challenges

Moral Choices Facing Employees

Job Discrimination

Filters