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Week 2 Business Law
Business Ethics and Constitutional Law
| Question | Answer |
|---|---|
| Ethical egoists such as Ayn Rand hold that: | people always act in their own self-interest. |
| Immanuel Kant's categorical imperative theory: | requires that we avoid one-sided benefits as a result of ethical decisions. |
| In applying the "front-page-of-the-newspaper" test to a contemplated course of conduct one should ask: | Would I be willing to have my spouse, friends, and children read about this if it winds up on the front page of the newspaper? |
| The Blanchard and Peale three-part test for resolving ethical dilemmas consists of the following questions: | Is it legal? Is it balanced? How does it make me feel? |
| The ethical category of integrity and truthfulness is best expressed as maintaining one's values and principles: | despite the consequences or costs. |
| The passage of federal securities disclosure laws occurred largely as the result of: | the stock market crash of 1929. |
| The Utilitarian Theory: | is based on doing the most good for the most people. |
| T or F Despite the importance of ethical behavior for business success, few Fortune 500 companies have codes of ethics to resolve ethical dilemmas. | False |
| T or F Ethical egoism believes that feeling guilty about poor ethical decisions will lead to better future decisions. | False |
| T or F Moral relativists believe that ethical decisions will differ based on circumstances. | True |
| T or F Kant's theory understood that sometimes you have to use someone to achieve a one-sided benefit. | False |
| T or F Moral standards based on positive law may allow businesses to conduct themselves unfairly so long as their actions are not illegal. | True |
| T or F Over half of all Fortune 500 firms train their employees to recognize and deal with particular types of behavior that breach their ethical codes. | True |
| T or F The Front-Page-of-the-Newspaper Test helps managers view ethical decisions in terms of public disclosure of the proposed conduct. | True |
| T or F There is no evidence that commitment to ethical values is linked with financial performance of business organizations | False |
| T or F There is often a conflict between the goal of making money for shareholders and the goal of solving social problems through business. | True |
| T or F Utilitarians believe that ethics is measured by actions that do the most good for the most people. | True |
| A(n)___________ is the power to adopt laws that protect the general welfare, health, safety, and morals of the people. | State's police power |
| Federal judges of the United States: | are appointed by the President, with the approval of the Senate |
| Federal law __________ conflicting state regulation when a federal law regulates that particular subject. | preempts |
| Federal supremacy refers to: | the power of the federal government to legislate in certain areas. |
| In a living-document view, the U.S. Constitution is a document that: | must be interpreted to accommodate both stability and flexibility. |
| Powers delegated to the national government that may be exercised by the states are referred to as ________. | delegated powers |
| The commerce clause of the Constitution: | has been expanded by Supreme Court interpretations to give the U.S. government the power to regulate the general welfare of the nation. |
| The due process clause: | provides a guarantee of protection against loss of rights or property without the chance to be heard. |
| The greatest changes to the written Constitution have been brought about by: | judicial interpretation. |
| The power to tax income: | may be exercised concurrently by both state and federal governments. |
| Which of the following is not characteristic of the "living" Constitution? | states' powers equal to federal powers |
| Which of the following is not protected under the privileges and immunities clause? | right to go to another state and vote in local elections |
| Which of the following is true about administrative agencies? | Administrative agencies make decisions that are rarely reviewed by the courts. |
| Within the past five years, the U.S Supreme Court has: | placed some limitations on the commerce clause. |
| Which of the following statements regarding the commerce clause is FALSE? | The commerce clause empowers Congress to regulate interstate commerce, but not commerce with foreign nations. |
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