Exam 2: A Historical Perspective on Business Ethics

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It is important to consider the historical perspective to appreciate the evolution of the current economic and regulatory systems.

(True/False)
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Peaceful relations between indigenous tribes and the Pilgrims ended when the indigenous tribes violated fur trading pacts and land agreements.

(True/False)
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Define and provide an overview of the Optimal Ethics Systems Model.

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Many indigenous populations were harmed by early European exploration.

(True/False)
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The founders of the United States addressed the obvious contradiction between slavery and liberty in the Constitution.

(True/False)
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Labor unions were originally intended to reduce power imbalances between owners and laborers.

(True/False)
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Among the reasons Pilgrims settled in Massachusetts were desires for:

(Multiple Choice)
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_________________ is a system in which some individuals are perceived as property,and thereby capable of being owned by other people and subject to the whims of their owners,with no provisions for eventual freedom.

(Multiple Choice)
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Adam Smith and early proponents of capitalism believed a strong system of justice is essential to punish those who do not appropriately self-regulate their behaviors,and to reinforce contracts.

(True/False)
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Dependency on slave labor ________________ during the Industrial Revolution.

(Multiple Choice)
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Smith argued that laborers benefit from capitalism because economic growth generates jobs and more choice among occupations.

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In the late 1880s,states began to compete against one another in which of the following ways?

(Multiple Choice)
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Settlements in Roanoke,Jamestown and Plymouth were early examples of ________________.

(Multiple Choice)
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All groups at Plymouth were required to observe the Pilgrims' strict religious lifestyle.

(True/False)
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Adam Smith promoted self-interest as the primary motivation for individual behavior.

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The Reagan Administration of the 1980s began a process of deregulation,or __________________,which continued under the Clinton and Bush administrations.

(Multiple Choice)
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The U.S.Constitution was written without addressing the issue of slavery to:

(Multiple Choice)
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The minimum wage,the lowest wage an employee can legally pay an employee,an amount higher than what the market would otherwise establish,was federally mandated by which of the following pieces of legislation?

(Multiple Choice)
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______________ were granted by the British government to allow several people to create organizations by pooling financial resources,which enabled riskier business projects to be undertaken.

(Multiple Choice)
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Early settlements by English colonists were often marked by warfare with indigenous peoples.

(True/False)
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