Business Ethics Chapter 3&4

27 August 2022
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Talk of justice and injustice appeals to the related notions of...
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Fairness, equality, desert
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Aristotle's formal principle of justice states...
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There are no rights
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According to Mill's utilitarianism...
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rights are certain moral rules whose observance is of the utmost importance for the long-run, overall maximization of happiness.
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According to libertarianism...
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it would be unjust to coerce people to give food or money to the starving
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According to John Rawls, people in "the original position" choose the principles of justice on the basis of...
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self intrest
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From John Stuart Mill's viewpoint...
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Not every issue of social utility was a matter of justice
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Mill justified utilitarianism from rival perspectives when he argued...
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That without utilitarianism to provide a determinate standard of justice, one is always left with a plethora of competing principles of justice, all of which seem to have plausibility but are mutually incompatible
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In "Anarchy, State and Utopia", Robert Nozick advocates...
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Libertarianism
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If libertarianism is true, which of these statements is true?
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We should have a "night-watchman" state
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According to Locke...
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Property is a moral right
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According to John Rawls...
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People in the original position choose the principles on the basis of self-interest
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The veil of ignorance proposes that...
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Those in the original position are supposed to choose principles on the basis of self-interest, agreement seems unlikely
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The veil of ignorance assures us that people in the original position will be...
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Impartial
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Primary social goods include...
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status
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John Rawls' Theory of Justice lays within which type of tradition?
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Social contract
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The difference principle of Rawls states...
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Inequalities are only justified if they benefit the least advantaged
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In association with labor and capital, Mill had contrasting views of...
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Profit sharing
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Who is more likely to be sympathetic with the idea of reducing the disparities of income in society?
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Utilitarians
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The first principle of Nozick's entitlement theory concerns the original acquisition of...
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Goods, money, and property
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In Nozick's example of Wilt Chamberlain, he argues that other theories of economic justice inevitably fail to respect people's...
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Liberty
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To the libertarians, their concept of liberty includes a commitment to...
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Private property
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Rawls rejects utilitarianism because...
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It might permit an unfair distribution of burdens and benefits
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Eminent domain is the ancient right of government to take what from an individual?
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Property
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The Supreme Court gave decision making power for Eminent domain to the...
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States and local communities
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What philosopher believes the maximin rule is relevant to justice?
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John Rawls
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Which of the following historical stages of capitalism came first?
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Mercantile
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The profit motive...
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Must be checked by competition if society is to benefit
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A basic tenet of capitalism is that...
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Capitalism requires private ownership of the major means of production
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The concept of the "invisible hand" means...
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Pursuit of private gain will bring the best overall results
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A basic premise of Adam Smith's invisible hand argument is...
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We often get what we want from others by offering something they need from us
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One of the key features of capitalism is...
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Competition
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Some critics of capitalism believe that it rests on a flawed view of human beings because...
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Capitalism assumes that well-being comes from greater material consumption
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One reason for believing that in practice capitalism fails to live up to its own ideal of competition is...
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We have government subsidies and protective tariffs
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Karl Marx believed that...
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Capitalist workers suffer from alientation
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An assessment of work in America is...
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Many manufacturing companies have become "hollow" or "weightless"
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An exclusive focus on short-term performance...
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Had helped to create a high-pressure environment conducive to fraud
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Evidence for the idea that American manufacturing is declining is...
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The fact that government now employs more people than manufacturing
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According to one survey of cultural values...
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Americans typically value things like their children's education and a satisfactory love life more than work
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Which statement best describes capitalism?
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Capitalism is an economic system that operates under the profit motive
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Which of the following is an accurate statement?
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A common defense of capitalism is the argument that people have a fundamental moral right to property and that our capitalist system is simply the outcome of this natural right
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Marxism states..
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Capitalism leads to a concentration of property and thus a concentration of resources and power in relatively few hands
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Which of the following accurately reflects the concept of Marxism?
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Labor is alienated in a capitalist economic system (in part) because the labor of a worker stands opposed to the worker as an autonomous power
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Which statement accurately describes capitalism?
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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
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For employees who are paid handsomely for their efforts, Marx said their work would ultimately prove to be...
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Meaningless to them
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For the first time since the Industrial Revolution, less than ____ percent of the American workforce was employed by manufacturing.
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10
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Though many jobs are outsourced, most economists believe...
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the economy will create new jobs in the USA
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Many economists are concerned that the growing trade deficit makes the U.S. vulnerable to...
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Economic extortion
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Rather than strong work ethic, a common attitude is:
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Me-first
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How many Americans believe that "if you work hard enough, you'll make it?"
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One out of three
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The Fugger dynasty was an example of...
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Mercantile capitalism
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The statement that accurately describes corporations is...
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Corporate shareholders have limited liability for their debts
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Corporations differ from partnerships and other forms of business association in two ways. One of these is that...
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They must be publicly registered or in some way officially acknowledged by the law
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The first corporations...
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Were towns, universities, and ecclesiastic orders
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Which of the following contributed to the more relaxed incorporation procedures of modern times?
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The idea that incorporation is a by-product of the people's right to associate, not a gift from the state
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In [Citizens United v. Federal Elections Commission], the U.S. Supreme Court...
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Defended the first Amendment right of corporations to spend money to support political candidates they favor
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A common point of contention about corporations is...
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Philosophers and business theorists disagree whether corporations are moral agents
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Milton Friedman argues that...
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A business's only social responsibility is to maximize profits within the rules of the game
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Which of the following do advocates of the broader view of corporate social responsibility believe?
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Corporations have moral obligations to consumers, to employees, to suppliers and contractors, to the surrounding community, and to society at large Some argue for the narrow view of corporate social responsibility on the ground that managers have a fiduciary responsibility to maximize the profits of their shareholders.
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As discussed in Chapter 5, one problem with this argument is that...
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Promises don't override all our other obligations
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Which of the following is one of the three arguments in favor of narrow corporate social responsibility discussed in Chapter 5?
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Let-government-do-it
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One of the three important "limits to what the law can do" discussed by Christopher Stone is...
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Designing effective regulations is difficult
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Kenneth Arrow discussed two important situations in which profit maximization can be socially inefficient. One of these occurs when...
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There is an imbalance of knowledge between buyer and seller
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Externalities are...
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Unintended side-effects
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Milton Snoeyenbos argues that...
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Corporate moral codes can make it more reasonable to expect employees to behave ethically
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The best statement concerning corporations is...
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Corporate culture can be both explicit and implicit
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Momentum for the corporate organization of business really gained momentum after which war?
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Civil War
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The debate over corporate moral agency hinges on which issue?
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Corporate punishment
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The idea that corporations are moral agents...
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is accepted by many people and companies without hesitation
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The "rules of the game" for corporate work are intended to...
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Promote open and free competition
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Milton Friedman's perspective is that the only social responsibility of a business is to...
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Make money for its owners
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Those with a broader view concerning business obligations believe that with power comes...
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Social responsibility
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Melvin Anshen suggests that there is a relationship between business and society which he termed as...
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"Social contract."
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Most Americans believe a corporation's top obligation is to its...
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Employees
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In the corporate world, the board of directors will typically...
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Rubber stamp the politics and recommendations of the management
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Adam Smith proposed that in our pursuit of economic interests we are led by...
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| An invisible hand to promote general good