Question 1

Adam Smith,in The Wealth of Nations,said the capitalistic system was composed of six institutions,which include all but which of the following?

Accepted Answer

A) Economic motivation. 
B) Free enterprise. 
C) Labor. 
D) Limited government. 
A) Economic motivation. 
B) Free enterprise. 
C) Labor. 
D) Limited government. C

Question 2

A leading proponent of the utilitarian approach to ethics was the eighteenth century philosopher Immanuel Kant.

Accepted Answer

A) True 
 B)False  False

Question 3

An ethical relativist looks to a central authority,such as the Bible,to guide her in ethical decision making.

Accepted Answer

A) True 
 B)False  False

Question 4

A factor demanding the ethical and social responsibility of business is:

Accepted Answer

A) the "invisible hand" of competition. 
B) the sheer size and power of individual corporations. 
C) the fact that self-regulation has been effective in achieving social goals. 
D) great amounts of wealth and economic power are controlled by a small number of shareholders who own and exercise tight control over a large number of corporations. 
A) the "invisible hand" of competition. 
B) the sheer size and power of individual corporations. 
C) the fact that self-regulation has been effective in achieving social goals. 
D) great amounts of wealth and economic power are controlled by a small number of shareholders who own and exercise tight control over a large number of corporations.

Question 5

Rule utilitarianism supports rules that,on balance,produce the greatest good.

Accepted Answer

A) True 
 B)False

Question 6

Define business ethics and give some examples of the types of situations in which ethical issues might arise in a business setting.

Accepted Answer

Business ethics is a subset of ethics an

Question 7

Deontologists are criticized for rigidity and excessive formalism.

Accepted Answer

A) True 
 B)False

Question 8

Deontological theories assess good and evil in terms of the consequences of actions.

Accepted Answer

A) True 
 B)False

Question 9

Harvard philosopher,Robert Nozick,stressed liberty,not justice,as the most important obligation that society owes its members.

Accepted Answer

A) True 
 B)False

Question 10

The ethical theory that underlies cost-benefit analysis is:

Accepted Answer

A) libertarianism. 
B) deontology. 
C) utilitarianism. 
D) ethical relativism. 
A) libertarianism. 
B) deontology. 
C) utilitarianism. 
D) ethical relativism.

Question 11

Discuss each of the following ethical theories with regard to whether you accept or reject them for your own actions and decisions.
a.Intuitionism and the "Television Test."
b.Rule utilitarianism.
c.Ethical relativism.
d.Ethical fundamentalism.
e.The deontological approach.
f. Milton Friedman's ideas on corporate governance.

Accepted Answer

Of course,students' answers will vary.Ea

Question 12

It is possible for legal acts to be immoral.

Accepted Answer

A) True 
 B)False

Question 13

In some respects,Kant's categorical imperative is a variation of the Golden Rule.

Accepted Answer

A) True 
 B)False

Question 14

Psychologist Lawrence Kohlberg observed that people progress through sequential stages of moral development according to the two major variables of age and reasoning.

Accepted Answer

A) True 
 B)False

Question 15

A person who believes in the situational ethics theory would agree that precise guidelines for business behavior must be developed and adhered to by business professionals.

Accepted Answer

A) True 
 B)False

Question 16

True cost-benefit analysis as a social theory,

Accepted Answer

A) only measures monetary gains and losses in making business decisions. 
B) compares direct and indirect costs and benefits of program alternatives for meeting a specific goal. 
C) is another theory that judges persons' actions by what those persons believe is right for themselves. 
D) emphasizes justice and a central moral authority. 
A) only measures monetary gains and losses in making business decisions. 
B) compares direct and indirect costs and benefits of program alternatives for meeting a specific goal. 
C) is another theory that judges persons' actions by what those persons believe is right for themselves. 
D) emphasizes justice and a central moral authority.

Question 17

Ethics can be defined broadly as the study of what is good or right for human beings.

Accepted Answer

A) True 
 B)False

Question 18

Under a Kantian approach to ethics,a person should not lie to colleagues unless that person supports the right of all colleagues to lie to one another.

Accepted Answer

A) True 
 B)False

Question 19

Utilitarian notions underlie cost-benefit analysis.

Accepted Answer

A) True 
 B)False

Question 20

Social egalitarians believe:

Accepted Answer

A) the ends justifies the means. 
B) society should provide each person with equal amounts of goods and services regardless of the contribution each makes to increase society's wealth. 
C) society should divide wealth based on each person's contribution. 
D) that if persons wish to act morally, they should emulate those in the society who always seem to do the right thing. 
A) the ends justifies the means. 
B) society should provide each person with equal amounts of goods and services regardless of the contribution each makes to increase society's wealth. 
C) society should divide wealth based on each person's contribution. 
D) that if persons wish to act morally, they should emulate those in the society who always seem to do the right thing.

Exam 2: Business Ethics

Adam Smith,in The Wealth of Nations,said the capitalistic system was composed of six institutions,which include all but which of the following?

A leading proponent of the utilitarian approach to ethics was the eighteenth century philosopher Immanuel Kant.

An ethical relativist looks to a central authority,such as the Bible,to guide her in ethical decision making.

A factor demanding the ethical and social responsibility of business is:

Rule utilitarianism supports rules that,on balance,produce the greatest good.

Define business ethics and give some examples of the types of situations in which ethical issues might arise in a business setting.

Deontologists are criticized for rigidity and excessive formalism.

Deontological theories assess good and evil in terms of the consequences of actions.

Harvard philosopher,Robert Nozick,stressed liberty,not justice,as the most important obligation that society owes its members.

The ethical theory that underlies cost-benefit analysis is:

It is possible for legal acts to be immoral.

In some respects,Kant's categorical imperative is a variation of the Golden Rule.

Psychologist Lawrence Kohlberg observed that people progress through sequential stages of moral development according to the two major variables of age and reasoning.

A person who believes in the situational ethics theory would agree that precise guidelines for business behavior must be developed and adhered to by business professionals.

True cost-benefit analysis as a social theory,

Ethics can be defined broadly as the study of what is good or right for human beings.

Under a Kantian approach to ethics,a person should not lie to colleagues unless that person supports the right of all colleagues to lie to one another.

Utilitarian notions underlie cost-benefit analysis.

Social egalitarians believe:

Introduction to Law

Civil Dispute Resolution

Constitutional Law

Administrative Law

Criminal Law

Intentional Torts

Negligence and Strict Liability

Introduction to Contracts

Mutual Assent

Conduct Invalidating Assent

Consideration

Illegal Bargains

Contractual Capacity

Contracts in Writing

Third Parties to Contracts

Performance, Breach, and Discharge

Contract Remedies

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Product Liability: Warranties and Strict Liability

Sales Remedies

Form and Content

Transfer and Holder in Due Course

Liability of Parties

Bank Deposits, Collections, and Funds Transfers

Relationship of Principal and Agent

Relationship With Third Parties

Formation and Internal Relations of General Partnerships

Operation and Dissolution of General Partnerships

Limited Partnerships and Limited Liability Companies

Nature and Formation of Corporations

Financial Structure of Corporations

Management Structure of Corporations

Fundamental Changes of Corporations

Secured Transactions and Suretyship

Bankruptcy

Securities Regulation

Intellectual Property

Employment Law

Antitrust

Accountants Legal Liability

Consumer Protection

Environmental Law

International Business Law

Introduction to Property, property Insurance, Bailments, and Documents of Title

Interests in Real Property

Transfer and Control of Real Property

Trusts and Wills

Filters