Question 1

Which of the following statements is true of formalism?

Accepted Answer

A)  It is primarily concerned with the consequences of a person's action rather than the action itself. 
B)  It lays more emphasis on end results and their evaluation. 
C)  It focuses more on common good rather than on individual rights. 
D)  It is an approach to ethics that affirms an absolute morality. 
E)  Its dominant form is utilitarianism. 
A)  It is primarily concerned with the consequences of a person's action rather than the action itself. 
B)  It lays more emphasis on end results and their evaluation. 
C)  It focuses more on common good rather than on individual rights. 
D)  It is an approach to ethics that affirms an absolute morality. 
E)  Its dominant form is utilitarianism.

Question 2

According to Adam Smith,leading a good life means being solely concerned about the fortunes of oneself.

Accepted Answer

A) True 
 B)False

Question 3

Stakeholder theory suggests that ethical corporate behavior __________.

Accepted Answer

A)  strongly relies on government interaction 
B)  focuses primarily on whether corporate actions take the interests of all employees into account before making significant business decisions 
C)  depends on managers who recognize and take into account the various stakeholders whose interests a corporation affects 
D)  takes unacceptable risks only when the risk has a reasonable likelihood of enriching the stakeholders' net worth substantially 
E)  requires interaction specifically between managers and customers to promote profit sharing 
A)  strongly relies on government interaction 
B)  focuses primarily on whether corporate actions take the interests of all employees into account before making significant business decisions 
C)  depends on managers who recognize and take into account the various stakeholders whose interests a corporation affects 
D)  takes unacceptable risks only when the risk has a reasonable likelihood of enriching the stakeholders' net worth substantially 
E)  requires interaction specifically between managers and customers to promote profit sharing

Question 4

In the context of ethical issues,modern economic theory reflects __________.

Accepted Answer

A)  formalism 
B)  the categorical imperative 
C)  the monopolistic approach 
D)  consequentialism 
E)  utilitarianism 
A)  formalism 
B)  the categorical imperative 
C)  the monopolistic approach 
D)  consequentialism 
E)  utilitarianism

Question 5

Which of the following statements best defines ethics?

Accepted Answer

A)  Ethics is a legal system for evaluating who profits in a business transaction. 
B)  Ethics is merely a different term for the laws and regulations created by a government. 
C)  Ethics is an irrational method used specifically in examining the morality of lives. 
D)  Ethics is a simplified term given to the momentary decisions one makes regarding which answer will lead to the most personally successful solution. 
E)  Ethics is a formal system for deciding what is right and wrong and for justifying moral decisions. 
A)  Ethics is a legal system for evaluating who profits in a business transaction. 
B)  Ethics is merely a different term for the laws and regulations created by a government. 
C)  Ethics is an irrational method used specifically in examining the morality of lives. 
D)  Ethics is a simplified term given to the momentary decisions one makes regarding which answer will lead to the most personally successful solution. 
E)  Ethics is a formal system for deciding what is right and wrong and for justifying moral decisions.

Question 6

Isla fakes a headache to skip her classes.Few weeks later,when her friend,Isaac,lies to the teacher about being sick,Isla reports him to the teacher.She tells the teacher that she is not in favor of lying.According to Immanuel Kant,Isla would most likely be in violation of _____.

Accepted Answer

A)  utilitarianism 
B)  the categorical imperative 
C)  a veil of ignorance 
D)  the Protestant Ethic 
E)  due diligence 
A)  utilitarianism 
B)  the categorical imperative 
C)  a veil of ignorance 
D)  the Protestant Ethic 
E)  due diligence

Question 7

According to Rawls,which of the following serves as the first step in determining the ethical values on which a just society can be built?

Accepted Answer

A)  To assume that one is not aware of one's own age, gender, race, intelligence, strength, wealth, or social status 
B)  To weigh the effects of one's decisions on the society and oneself and thereby choose the path that brings in maximum benefit 
C)  To be completely self-aware of one's ambitions and goals 
D)  To test the morality of actions done by others in a society 
E)  To use formalism to formulate acceptable codes of conduct 
A)  To assume that one is not aware of one's own age, gender, race, intelligence, strength, wealth, or social status 
B)  To weigh the effects of one's decisions on the society and oneself and thereby choose the path that brings in maximum benefit 
C)  To be completely self-aware of one's ambitions and goals 
D)  To test the morality of actions done by others in a society 
E)  To use formalism to formulate acceptable codes of conduct

Question 8

Which of the following statements is true of the role of economic interdependence on business ethics and society?

Accepted Answer

A)  It reduces concerns about business ethics. 
B)  It sometimes gives opportunities to executives who control what stockholders own to manipulate corporate actions for their own benefit. 
C)  It reduces any transparency problems in an organization as corporate leaders are usually the real owners of corporations. 
D)  It predominantly results in utilitarianism. 
E)  It ensures that the decision taken by stockholders have little effect on others. 
A)  It reduces concerns about business ethics. 
B)  It sometimes gives opportunities to executives who control what stockholders own to manipulate corporate actions for their own benefit. 
C)  It reduces any transparency problems in an organization as corporate leaders are usually the real owners of corporations. 
D)  It predominantly results in utilitarianism. 
E)  It ensures that the decision taken by stockholders have little effect on others.

Question 9

The news media and the Internet make it increasingly difficult to hide the questionable behavior of large organizations.

Accepted Answer

A) True 
 B)False

Question 10

What roles do regulations serve in promoting ethical decisions in the business world? Do you think there should be more or fewer regulations on business?

Accepted Answer

Legal regulation is a significant source

Question 11

Ultimately,the commitment to ethical values is superior to mere observance of the law in ensuring responsible business behavior.

Accepted Answer

A) True 
 B)False

Question 12

Consequentialism concerns itself with the morality of the actions themselves.

Accepted Answer

A) True 
 B)False

Question 13

Formalism is primarily a duty-based view of ethics.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following acts prohibits employment discrimination based on race,sex,color,religion,and national origin?

Accepted Answer

A)  The Civil Rights Act of 1964 
B)  The Sarbanes-Oxley Act of 2002 
C)  The Glass-Steagall Act 
D)  The Foreign Corrupt Practices Act 
E)  The Commodity Futures Modernization Act of 2000 
A)  The Civil Rights Act of 1964 
B)  The Sarbanes-Oxley Act of 2002 
C)  The Glass-Steagall Act 
D)  The Foreign Corrupt Practices Act 
E)  The Commodity Futures Modernization Act of 2000

Question 15

The social contract theory is based on duty and not on contract or agreement.

Accepted Answer

A) True 
 B)False

Question 16

Of the two main systems of ethics,which do you think is better for a corporate philosophy? Compare the two,giving examples of each and potential problems.

Accepted Answer

Students should engage the material,disc

Question 17

Laws regarding traffic violations predominantly address ethical concerns.

Accepted Answer

A) True 
 B)False

Question 18

According to the Spanish journal Boletín Círculo,which of the following is true about business ethics?

Accepted Answer

A)  Profits and business ethics are usually contradictory. 
B)  Unethical behavior is hardly a business liability. 
C)  Immoral behavior often flows from ignorance. 
D)  Business ethics reflect business leadership. 
E)  Ongoing reevaluations of ethics are insignificant and time-consuming. 
A)  Profits and business ethics are usually contradictory. 
B)  Unethical behavior is hardly a business liability. 
C)  Immoral behavior often flows from ignorance. 
D)  Business ethics reflect business leadership. 
E)  Ongoing reevaluations of ethics are insignificant and time-consuming.

Question 19

The way to understand the ethical-legal relationship is to realize that in a society ethical values frequently become law and that legal regulation can reflect the society's ethical values.

Accepted Answer

A) True 
 B)False

Question 20

It is a conflict of interest for a judge or administrative regulator to make a decision involving a company in which he or she owns stock.

Accepted Answer

A) True 
 B)False

Exam 2: The Role of Ethics in Decision Making

Which of the following statements is true of formalism?

According to Adam Smith,leading a good life means being solely concerned about the fortunes of oneself.

Stakeholder theory suggests that ethical corporate behavior __________.

In the context of ethical issues,modern economic theory reflects __________.

Which of the following statements best defines ethics?

Isla fakes a headache to skip her classes.Few weeks later,when her friend,Isaac,lies to the teacher about being sick,Isla reports him to the teacher.She tells the teacher that she is not in favor of lying.According to Immanuel Kant,Isla would most likely be in violation of _____.

According to Rawls,which of the following serves as the first step in determining the ethical values on which a just society can be built?

Which of the following statements is true of the role of economic interdependence on business ethics and society?

The news media and the Internet make it increasingly difficult to hide the questionable behavior of large organizations.

What roles do regulations serve in promoting ethical decisions in the business world? Do you think there should be more or fewer regulations on business?

Ultimately,the commitment to ethical values is superior to mere observance of the law in ensuring responsible business behavior.

Consequentialism concerns itself with the morality of the actions themselves.

Formalism is primarily a duty-based view of ethics.

Which of the following acts prohibits employment discrimination based on race,sex,color,religion,and national origin?

The social contract theory is based on duty and not on contract or agreement.

Of the two main systems of ethics,which do you think is better for a corporate philosophy? Compare the two,giving examples of each and potential problems.

Laws regarding traffic violations predominantly address ethical concerns.

According to the Spanish journal Boletín Círculo,which of the following is true about business ethics?

The way to understand the ethical-legal relationship is to realize that in a society ethical values frequently become law and that legal regulation can reflect the society's ethical values.

It is a conflict of interest for a judge or administrative regulator to make a decision involving a company in which he or she owns stock.

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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