Question 1

Business ethics reflect elements of both formalism and consequentialism,but tend to focus more heavily on the former.

Accepted Answer

A) True 
 B)False  False

Question 2

For a consequentialist,lying itself is considered unethical.

Accepted Answer

A) True 
 B)False  False

Question 3

Adam Smith,the author of The Wealth of Nations,denied the existence of any moral element in human nature that goes beyond self-interest.

Accepted Answer

A) True 
 B)False  False

Question 4

For businesses,merely to observe the law is sufficient as legal regulations are flexible and adequately informed to be the only social guide for business decision making.

Accepted Answer

A) True 
 B)False

Question 5

According to the social contract theory,though there may be social and economic inequalities,these inequalities must be based on what a person does,not on who a person is.

Accepted Answer

A) True 
 B)False

Question 6

Describe the effect of the group on ethical corporate behavior.

Accepted Answer

The social critic Ambrose Bierce once re

Question 7

Which of the following is a national group of senior business leaders that has identified a general list of topics that organizational codes of business ethics should cover?

Accepted Answer

A)  The Corporate Deciders 
B)  The Business Roundtable 
C)  The National Business Ethics Survey 
D)  The Board of Review 
E)  The Springfield Armory 
A)  The Corporate Deciders 
B)  The Business Roundtable 
C)  The National Business Ethics Survey 
D)  The Board of Review 
E)  The Springfield Armory

Question 8

Which of the following ethical principles focuses on the common good rather than on individual rights?

Accepted Answer

A)  Formalism 
B)  Hedonism 
C)  Utilitarianism 
D)  Narcissism 
E)  Libertinism 
A)  Formalism 
B)  Hedonism 
C)  Utilitarianism 
D)  Narcissism 
E)  Libertinism

Question 9

Is the concept of due care a formalist or consequentialist concept? What are the difficulties in applying this to business actions?

Accepted Answer

Due care demands that individuals and co

Question 10

According to sociologist Robert Jackall's view of the modern bureaucratic managerial system,how has the Protestant ethic changed over time?

Accepted Answer

A)  The Protestant ethic has become the only viable ethical system for American corporations. 
B)  The profiteering of the Protestant ethic became a justification for economic excess. 
C)  The religious consequentialism of the Protestant ethic became the dominant system of formalistic morality. 
D)  The Protestant ethic collapsed as a viable ethical system. 
E)  The religious formalism of the Protestant ethic has become a type of utilitarian consequentialism. 
A)  The Protestant ethic has become the only viable ethical system for American corporations. 
B)  The profiteering of the Protestant ethic became a justification for economic excess. 
C)  The religious consequentialism of the Protestant ethic became the dominant system of formalistic morality. 
D)  The Protestant ethic collapsed as a viable ethical system. 
E)  The religious formalism of the Protestant ethic has become a type of utilitarian consequentialism.

Question 11

That individuals will do unethical things as part of a mob,which they would never do alone,is widely recognized,and the same pattern can be observed in corporate behavior.

Accepted Answer

A) True 
 B)False

Question 12

The dominant form of consequentialism is _____.

Accepted Answer

A)  utilitarianism 
B)  hedonism 
C)  libertinism 
D)  narcissism 
E)  Marxism 
A)  utilitarianism 
B)  hedonism 
C)  libertinism 
D)  narcissism 
E)  Marxism

Question 13

How does the 2008 economic recession illustrate the potential problems of economic interdependence?

Accepted Answer

The 2008 recession illustrates economic

Question 14

One of the observations made by the Spanish journal Boletín Círculo is that profits and business ethics are contradictory.

Accepted Answer

A) True 
 B)False

Question 15

The primary goal or end of business leaders is to produce a profit.This orientation reflects _____.

Accepted Answer

A)  deontology 
B)  formalism 
C)  consequentialism 
D)  the Protestant ethic 
E)  Darwinism 
A)  deontology 
B)  formalism 
C)  consequentialism 
D)  the Protestant ethic 
E)  Darwinism

Question 16

Courts have examined due care in negligence cases in terms of a balancing test.

Accepted Answer

A) True 
 B)False

Question 17

_____ means "honesty in intent" and "honesty in fact."

Accepted Answer

A)  Acting in good faith 
B)  Acting in due care 
C)  Acting in conflict of interest 
D)  Acting in confidentiality 
E)  Acting in liberty and rights of individuals 
A)  Acting in good faith 
B)  Acting in due care 
C)  Acting in conflict of interest 
D)  Acting in confidentiality 
E)  Acting in liberty and rights of individuals

Question 18

Utilitarianism judges actions by the morality of the actions and not by usefulness.

Accepted Answer

A) True 
 B)False

Question 19

What is meant by stakeholder theory,and who are the stakeholders of a corporation?

Accepted Answer

Stakeholder theory holds that ethical co

Question 20

Which of the following statements is true of the categorical imperative?

Accepted Answer

A)  It allows one to make an exception for one's own benefit. 
B)  It propagates that there is hardly any need to act in the way one believes everyone should act. 
C)  It holds that one can choose to be unethical if a situation demands it. 
D)  It requires one to act with good intent to be ethical. 
E)  It holds that one can hold contradictory opinions and act on them without having to ensure consistency with what others believe. 
A)  It allows one to make an exception for one's own benefit. 
B)  It propagates that there is hardly any need to act in the way one believes everyone should act. 
C)  It holds that one can choose to be unethical if a situation demands it. 
D)  It requires one to act with good intent to be ethical. 
E)  It holds that one can hold contradictory opinions and act on them without having to ensure consistency with what others believe.

Exam 2: The Role of Ethics in Decision Making

Business ethics reflect elements of both formalism and consequentialism,but tend to focus more heavily on the former.

For a consequentialist,lying itself is considered unethical.

Adam Smith,the author of The Wealth of Nations,denied the existence of any moral element in human nature that goes beyond self-interest.

For businesses,merely to observe the law is sufficient as legal regulations are flexible and adequately informed to be the only social guide for business decision making.

According to the social contract theory,though there may be social and economic inequalities,these inequalities must be based on what a person does,not on who a person is.

Describe the effect of the group on ethical corporate behavior.

Which of the following is a national group of senior business leaders that has identified a general list of topics that organizational codes of business ethics should cover?

Which of the following ethical principles focuses on the common good rather than on individual rights?

Is the concept of due care a formalist or consequentialist concept? What are the difficulties in applying this to business actions?

According to sociologist Robert Jackall's view of the modern bureaucratic managerial system,how has the Protestant ethic changed over time?

That individuals will do unethical things as part of a mob,which they would never do alone,is widely recognized,and the same pattern can be observed in corporate behavior.

The dominant form of consequentialism is _____.

How does the 2008 economic recession illustrate the potential problems of economic interdependence?

One of the observations made by the Spanish journal Boletín Círculo is that profits and business ethics are contradictory.

The primary goal or end of business leaders is to produce a profit.This orientation reflects _____.

Courts have examined due care in negligence cases in terms of a balancing test.

_____ means "honesty in intent" and "honesty in fact."

Utilitarianism judges actions by the morality of the actions and not by usefulness.

What is meant by stakeholder theory,and who are the stakeholders of a corporation?

Which of the following statements is true of the categorical imperative?

Law As a Foundation for Business

The Court System

Litigation

Alternative Dispute Resolution

The Constitution

The Property System

Contract Formation

Contractual Performance and Breach

Torts Affecting Business

Intellectual Property

International Law

Criminal Law and Business

Business Organizations

The Regulatory Process

Regulating Competitionantitrust Laws

Financial and Securities Regulations

Regulations Protecting Consumer Purchases, privacy, and Financial Activities

Environmental Regulation

Discrimination in Employment

Employment Laws

Labormanagement Relationship

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