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Stack #2523802
| Question | Answer |
|---|---|
| Teleological ethical systems are often referred to as _____. | consequentialist ethical systems |
| To the deontologist, the end is primary and that end or result is the measure of the ethical quality of a decision or act. (T/F) | False |
| The principle that is most likely to be followed by a utilitarian is: | the greatest good for the greatest number. |
| A(n) _____ ethical system emphasizes the consequences of an act. | teleological |
| A(n) _____ believes principle is primary and consequence is secondary or even irrelevant. | deontologist |
| Maximizing right rather than good is the teleological standard. (T/F) | False |
| Whistle-blowing appears to be on the rise following the passage of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. (T/F) | True |
| Virtue ethics focuses on the classic notion that the key to good ethics lies in a person's _____. | character |
| Moral identity involves the degree to which moral concerns are central to our sense of self. (T/F) | True |
| Virtue ethics applauds the person who is motivated to do the right thing and who cultivates that motivation in daily conduct. (T/F) | True |
| The business community in America cannot influence the electoral and law-making processes. (T/F) | False |
| Lobbying is not confined to the business community. (T/F) | true |
| Which of the following falls under the "expected" category of Carroll‘s Social Responsibility Pyramid? | Ethical responsibilities |
| A firm that adopts the triple bottom-line approach: | considers its social and environmental responsibilities as important as its financial responsibilities. |
| Triple bottom-line advocates call for managerial practices that respect and measure a firm's social and environmental performance just as the firm's financial performance is respected and measured (T/F) | True |
| A company that adopts the shareholder approach to business would be most likely to make _____ its top priority. | profit |
| The perception of business misdeeds or indifference, in conjunction with the growing influence of business values throughout American life, has led in recent decades to the development of the doctrine of corporate social responsibility. (T/F) | True |
| Labor unions can lawfully establish political action committees to solicit and disburse voluntary campaign contributions. (T/F) | True |
| The outsourcing of good, high-paid factory jobs from the United States to less developed nations has fundamentally challenged and changed life in the country. (T/F) | True |
| According to Milton Friedman, the firm that maximizes its profits is not necessarily maximizing its contribution to the society. (T/F) | False |
| Price discrimination | |
| When competitors collude, conspire, or agree among themselves, they are engaging in _____. | horizontal restraints of trade |
| The Sherman Act prohibits attempts to monopolize as well as monopoly itself. (T/F) | true |
| Price discrimination involves selling substantially identical goods at reasonably contemporaneous times to different purchasers at different prices. (T/F) | True |
| Predatory pricing: | involves pricing below cost until a competitor drops out and then raising those prices to supracompetitive levels. |
| Manufacturers and distributors often seek to specify the price at which their customers may resell their products, a policy which is referred to as _____. | resale price maintenance |
| Vertical restraints are those arising from an agreement among competitors. (T/F) | false |
| Which of the following is a horizontal restraint of trade? | Price fixing |
| Which of the following forbids price discrimination, tying arrangements, mergers restraining commerce or tending to create a monopoly, and interlocking directorates? | The Clayton Act |
| When competitors collude, conspire, or agree among themselves, they are engaging in vertical restraints of trade. (T/F) | false |
| When competitors agree not to deal with a supplier, customer, or another competitor, it is referred to as a _____. | horizontal group boycott |
| Which of the following acts forbids monopolies? | The Sherman Act |
| A few firms sharing monopoly power constitute an oligopoly (T/F). | True |
| A merger involves the union of two or more enterprises wherein the property of all is transferred to the one remaining firm. (T/F) | True |
| A _____ merger involves two or more firms at different levels of the same channel of distribution. | vertical |
| A(n) _____ is a situation in which one firm holds the power to control prices and/or exclude competition in a particular market. | monopoly |
| A merger of two wine producers in the same geographic market would be an example of a _____ merger. | horizontal |
| Which of the following is a hazard of mergers? | Mergers lead to too much power being concentrated in too few hands. |
| Market share alone will lead to antitrust action. (T/F) | False |
| Which of the following is a part of the general legal test for monopolization? | The willful acquisition or maintenance of monopoly power |
| Which of the following is a feature of the federal Consolidated Omnibus Budget Reconciliation Act (COBRA)? | It requires employers with 20 or more employees to permit departing employees to retain group health coverage at their own expense for up to 18 months. |
| One of the major objectives of the Fair Labor Standards Act is the establishment of a minimum wage that provides at least the foundation for a modest standard of living for employees. (T/F) | True |
| Which of the following has the authority to file discrimination lawsuits on behalf of employees despite an arbitration agreement? | Equal Employment Opportunity Commission |
| Workers' compensation provides a form of no-fault protection in the workplace. (T/F) | True |
| Employers often bear legal responsibility for employees' accidents or wrongs. This vicarious liability springs from the doctrine of _____. | respondeat superior |
| Employers will be held liable under respondeat superior reasoning for harm to third parties caused by the intentional or negligent acts of their employees when those acts occur within the scope of employment.(T/F) | True |
| Which of the following is a legal requirement for claim of workers' compensation? | Injury sustained while on the job |
| Which of the following is an objective of the Fair Labor Standards Act? | Child labor protection |
| Which of the following acts imposes a general duty on most employers to provide a workplace free of "recognized hazards causing or likely to cause death or serious physical harm to employees"? | The Occupational Safety and Health Act |
| The Family and Medical Leave Act entitles eligible employees up to 15 weeks of paid leave for the birth, adoption, or foster care placement of a child, to care for a child, spouse, or parent who has a serious medical condition, or for the employ.(T/F) | False |
| ___________ are values that govern a society’s attitude toward right and wrong and toward good and evil. | Morals |
| Developing, formulating, and applying rules in line with our values is the job of ________. | ethics |
| According to _________, whether an action is moral or not depends on the ultimate effects of that action. | utilitarianism |
| The theory of the __________ says that right and wrong have no intrinsic value, but instead are determined by circumstance, situation, or even personal preference | ethical relativism |
| ___________ is a philosophical theory that says ethical values can be determined by a proper application of human reason. | Rational ethics |
| Until recently, the goal of making a profit for ________ was the only view of corporate responsibility built into statutory and common law. | its shareholders |
| ___________ consist of rules of conduct established by the government of a society to maintain harmony, stability, and justice. | Laws |
| If Alfredo, a small business owner, engages in cost-benefit thinking, he will generally only focus on the benefits and problems his business will face as the result of a decision he makes. (T/F) | true |
| Living an ethical lifestyle means simply doing what is legal. (T/F) | False |
| Ethical principles can tell us what is right, but cannot stop us from doing wrong. (T/F) | True |
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