Strayer University_BUSINESS E 309 Bus Ethics 309 Quiz 4 Ch.4 and Ch.5. All Answers Indicated.

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Course Business Ethics 309 Test Quiz 4 (Ch4) & (Ch5) Question 1 5 out of 5 points How many Americans believe that “if you work hard enough, you'll make it?” : One out of three. ... One out of three. Question 2 5 out of 5 points Which statement accurately describes capitalism? Selected : In state welfare capitalism the government plays an active role in regulating economic activities in an effort to smooth out the boom-and-bust pattern of the business cycle. Correct : In state welfare capitalism the government plays an active role in regulating economic activities in an effort to smooth out the boom-and-bust pattern of the business cycle. Question 3 5 out of 5 points According to one survey of cultural values : Americans typically value things like their children's education and a satisfactory love life more than work. Americans typically value things like their children's education and a satisfactory love life more than work. Question 4 5 out of 5 points Evidence for the idea that American manufacturing is declining is : the fact that government now employs more people than manufacturing. the fact that government now employs more people than manufacturing. Question 5 0 out of 5 points Marxism states Selected : socialism will eventually be replaced by financial capitalism. Correct : capitalism leads to a concentration of property and thus a concentration of resources and power in relatively few hands. Question 6 0 out of 5 points Rather than strong work ethic, a common attitude is: : Happy days are here to stay Me-first Question 7 5 out of 5 points Which of the following historical stages of capitalism came first? : mercantile mercantile Question 8 5 out of 5 points A basic premise of Adam Smith's invisible hand argument is : We often get what we want from others by offering something they need from us. We often get what we want from others by offering something they need from us. Question 9 5 out of 5 points Karl Marx believed that : capitalist workers suffer from alienation. capitalist workers suffer from alienation. Question 10 5 out of 5 points The concept of the "invisible hand" means : pursuit of private gain will bring the best overall results. pursuit of private gain will bring the best overall results. Question 11 0 out of 5 points The profit motive : is a fundamental feature of all societies. must be checked by competition if society is to benefit. Question 12 5 out of 5 points For the first time since the Industrial Revolution, less than _____ percent of the American workforce was employed by manufacturing. : 10 10 Question 13 5 out of 5 points The Fugger dynasty was an example of : mercantile capitalism. mercantile capitalism. Question 14 5 out of 5 points Though many jobs are outsourced, most economists believe : the economy will create new jobs in the USA. the economy will create new jobs in the USA. Question 15 5 out of 5 points An assessment of work in America is : many manufacturing companies have become "hollow" or "weightless". many manufacturing companies have become "hollow" or "weightless". Question 16 5 out of 5 points Kenneth Arrow discussed two important situations in which profit maximization can be socially inefficient. One of these occurs when : there is an imbalance of knowledge between buyer and seller. there is an imbalance of knowledge between buyer and seller. Question 17 0 out of 5 points Which of the following contributed to the more relaxed incorporation procedures of modern times? : The idea that incorporation is a gift from the state. The idea that incorporation is a by-product of the people's right to associate, not a gift from the state. Question 18 5 out of 5 points The best statement concerning corporations is : corporate culture can be both explicit and implicit. corporate culture can be both explicit and implicit. Question 19 5 out of 5 points The debate over corporate moral agency hinges on which issue? : Corporate punishment Corporate punishment Question 20 5 out of 5 points The “rules of the game” for corporate work are intended to : promote open and free competition. promote open and free competition. Question 21 5 out of 5 points Melvin Anshen suggests that there is a relationship between business and society which he termed as : “social contract.” “social contract.” Question 22 0 out of 5 points Corporations differ from partnerships and other forms of business association in two ways. One of these is that : their shareholders are entitled to their share of the company's profits as soon as they are ascertained or determined. Correct : they must be publicly registered or in some way officially acknowledged by the law. Question 23 5 out of 5 points A common point of contention about corporations is : philosophers and business theorists disagree whether corporations are moral agents. philosophers and business theorists disagree whether corporations are moral agents. Question 24 0 out of 5 points The idea that corporations are moral agents : is supported by the fiduciary relationship between management and shareholders. is accepted by many people and companies without hesitation. Question 25 5 out of 5 points Milton Friedman’s perspective is that the only social responsibility of a business is to : make money for its owners. make money for its owners. Question 26 5 out of 5 points Those with a broader view concerning business obligations believe that with power comes : social responsibility. social responsibility. Question 27 0 out of 5 points Which of the following is one of the three arguments in favor of narrow corporate social responsibility discussed in Chapter 5? : business-can-handle-it let-government-do-it Question 28 Adam Smith proposed that in our pursuit of economic interests we are led by : our gut instincts. an invisible hand to promote general good. Question 29 5 out of 5 points The first corporations : were towns, universities, and ecclesiastic orders. were towns, universities, and ecclesiastic orders. Question 30 0 out of 5 points Most Americans believe a corporation’s top obligation is to its : community. employees. 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