Question 1

Which of the following is not true about corporations in the United States?

Accepted Answer

A)  A relatively small number of corporations own the great bulk of U.S. industrial wealth. 
B)  The great majority of publicly held corporations have audit committees consisting entirely of outside directors. 
C)  The board of directors of the majority of publicly held U.S. corporations consist mainly or entirely of inside directors. 
D)  Corporate governance requirements on publicly held corporations have been imposed by federal legislation. 
A)  A relatively small number of corporations own the great bulk of U.S. industrial wealth. 
B)  The great majority of publicly held corporations have audit committees consisting entirely of outside directors. 
C)  The board of directors of the majority of publicly held U.S. corporations consist mainly or entirely of inside directors. 
D)  Corporate governance requirements on publicly held corporations have been imposed by federal legislation. C

Question 2

If a Middle Eastern culture and the American culture differ as to the morality of a particular action, under ethical relativism:

Accepted Answer

A)  both cultures are correct. 
B)  the action should be assessed to determine whether the action produces more net pleasure compared with net pain. 
C)  a cost-benefit analysis should be conducted to determine the relative economic efficiency of the action. 
D)  the action should be viewed through a "veil of ignorance" to determine whether it is ethical. 
A)  both cultures are correct. 
B)  the action should be assessed to determine whether the action produces more net pleasure compared with net pain. 
C)  a cost-benefit analysis should be conducted to determine the relative economic efficiency of the action. 
D)  the action should be viewed through a "veil of ignorance" to determine whether it is ethical. A

Question 3

The type of moral equality espoused by John Rawls is:

Accepted Answer

A)  freedom to do what one wishes. 
B)  social and material equality. 
C)  freedom from government regulation. 
D)  equality of opportunity. 
A)  freedom to do what one wishes. 
B)  social and material equality. 
C)  freedom from government regulation. 
D)  equality of opportunity. D

Question 4

All systems of ethics have a central authority and follow clear-cut, universal standards.

Accepted Answer

A) True 
 B)False

Question 5

How does Immanuel Kant's approach to ethical decision-making differ from that of an ethical fundamentalist?

Accepted Answer

A)  Kant's approach is premised on the rationality of human beings and not on principles handed down from above. 
B)  Kant's approach stresses liberty and not justice. 
C)  Kant's approach judges society in moral terms by how it distributes goods and services. 
D)  Kant's approach assesses each separate act according to whether it maximizes pleasure over pain. 
A)  Kant's approach is premised on the rationality of human beings and not on principles handed down from above. 
B)  Kant's approach stresses liberty and not justice. 
C)  Kant's approach judges society in moral terms by how it distributes goods and services. 
D)  Kant's approach assesses each separate act according to whether it maximizes pleasure over pain.

Question 6

Discuss which of the social ethics theories listed below you most agree with and why. Discuss your reasons for disagreeing with the others. 
a. Distributive justice 
b. Social egalitarian 
c. Libertarianism

Accepted Answer

Students' answers will vary. The goal of

Question 7

Philosophers have found that the most effective way to develop dependable and universal methods for making ethical judgments is to fashion a priori guidelines.

Accepted Answer

A) True 
 B)False

Question 8

Ethics can be defined broadly as the study of what is good or right.

Accepted Answer

A) True 
 B)False

Question 9

Discuss each of the following ethical theories with regard to whether you accept or reject them for your own actions and decisions. 
a. Intuitionism and the "Television Test." 
b. Rule utilitarianism. 
c. Ethical relativism. 
d. Ethical fundamentalism. 
e. The deontological approach. 
f. Milton Friedman's ideas on corporate governance.

Accepted Answer

Of course, students' answers will vary.

Question 10

Which of the following ethical theories  declares that if individuals wish to act morally, they should seek out and emulate those who always seem to know the right choice in any given situation and who always seem to do the right thing?

Accepted Answer

A)  the television test theory. 
B)  deontology. 
C)  the good person philosophy. 
D)  situational ethics. 
A)  the television test theory. 
B)  deontology. 
C)  the good person philosophy. 
D)  situational ethics.

Question 11

Which of the following is a common criticism of ethical relativism?

Accepted Answer

A)  It promotes open-mindedness and tolerance. 
B)  It assumes that a person's actions are always correct for that person, but if that is true, then all behavior is, by definition, moral. 
C)  It is rigid and excessively formal. 
D)  It is too judgmental. 
A)  It promotes open-mindedness and tolerance. 
B)  It assumes that a person's actions are always correct for that person, but if that is true, then all behavior is, by definition, moral. 
C)  It is rigid and excessively formal. 
D)  It is too judgmental.

Question 12

Social egalitarians believe:

Accepted Answer

A)  the ends justifies the means. 
B)  society should provide each person with equal amounts of goods and services regardless of the contribution each makes to increase society's wealth. 
C)  society should divide wealth based on each person's contribution. 
D)  that if persons wish to act morally, they should emulate those in the society who always seem to do the right thing. 
A)  the ends justifies the means. 
B)  society should provide each person with equal amounts of goods and services regardless of the contribution each makes to increase society's wealth. 
C)  society should divide wealth based on each person's contribution. 
D)  that if persons wish to act morally, they should emulate those in the society who always seem to do the right thing.

Question 13

Define business ethics and give some examples of the types of situations in which ethical issues might arise in a business setting.

Accepted Answer

Business ethics is a subset of ethics an

Question 14

True cost-benefit analysis, as a social theory,

Accepted Answer

A)  only measures monetary gains and losses in making business decisions. 
B)  compares direct and indirect costs and benefits of program alternatives for meeting a specific goal. 
C)  is another theory that judges persons' actions by what those persons believe is right for themselves. 
D)  emphasizes justice and a central moral authority. 
A)  only measures monetary gains and losses in making business decisions. 
B)  compares direct and indirect costs and benefits of program alternatives for meeting a specific goal. 
C)  is another theory that judges persons' actions by what those persons believe is right for themselves. 
D)  emphasizes justice and a central moral authority.

Question 15

A factor demanding the ethical and social responsibility of business is:

Accepted Answer

A)  the "invisible hand" of competition. 
B)  the sheer size and power of individual corporations. 
C)  the fact that self-regulation has been effective in achieving social goals. 
D)  great amounts of wealth and economic power are controlled by a small number of shareholders who own and exercise tight control over a large number of corporations. 
A)  the "invisible hand" of competition. 
B)  the sheer size and power of individual corporations. 
C)  the fact that self-regulation has been effective in achieving social goals. 
D)  great amounts of wealth and economic power are controlled by a small number of shareholders who own and exercise tight control over a large number of corporations.

Question 16

Through his observation of human behavior, psychologist Lawrence Kohlberg developed a model of moral development. Describe the stages of moral development that were studied and developed by Kohlberg and the relevance of this model for ethical business behavior.

Accepted Answer

Kohlberg's first stage of moral developm

Question 17

The "Television Test" is a test that is generally accepted by adherents of intuitionism.

Accepted Answer

A) True 
 B)False

Question 18

Analyze whether telling a lie is unethical in terms of each of the following ethical theories: 
a. The deontological approach. 
b. Utilitarianism. 
c. Intuitionism and the "Television Test." 
d. Ethical relativism. 
e. Ethical fundamentalism.

Accepted Answer

Answers will vary but should generally c

Question 19

The ethical theory that underlies cost-benefit analysis is:

Accepted Answer

A)  libertarianism. 
B)  deontology. 
C)  utilitarianism. 
D)  ethical relativism. 
A)  libertarianism. 
B)  deontology. 
C)  utilitarianism. 
D)  ethical relativism.

Question 20

Kant's approach asserts that universal laws stem from the direct pronouncements of God.

Accepted Answer

A) True 
 B)False

Exam 2: Business Ethics

Which of the following is not true about corporations in the United States?

If a Middle Eastern culture and the American culture differ as to the morality of a particular action, under ethical relativism:

The type of moral equality espoused by John Rawls is:

All systems of ethics have a central authority and follow clear-cut, universal standards.

How does Immanuel Kant's approach to ethical decision-making differ from that of an ethical fundamentalist?

Discuss which of the social ethics theories listed below you most agree with and why. Discuss your reasons for disagreeing with the others. a. Distributive justice b. Social egalitarian c. Libertarianism

Philosophers have found that the most effective way to develop dependable and universal methods for making ethical judgments is to fashion a priori guidelines.

Ethics can be defined broadly as the study of what is good or right.

Which of the following ethical theories declares that if individuals wish to act morally, they should seek out and emulate those who always seem to know the right choice in any given situation and who always seem to do the right thing?

Which of the following is a common criticism of ethical relativism?

Social egalitarians believe:

Define business ethics and give some examples of the types of situations in which ethical issues might arise in a business setting.

True cost-benefit analysis, as a social theory,

A factor demanding the ethical and social responsibility of business is:

Through his observation of human behavior, psychologist Lawrence Kohlberg developed a model of moral development. Describe the stages of moral development that were studied and developed by Kohlberg and the relevance of this model for ethical business behavior.

The "Television Test" is a test that is generally accepted by adherents of intuitionism.

Analyze whether telling a lie is unethical in terms of each of the following ethical theories: a. The deontological approach. b. Utilitarianism. c. Intuitionism and the "Television Test." d. Ethical relativism. e. Ethical fundamentalism.

The ethical theory that underlies cost-benefit analysis is:

Kant's approach asserts that universal laws stem from the direct pronouncements of God.

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