Business ethics final

According to Milton Friedman, managers should run corporations in the interests of all stakeholders because this would maximize flourishing.

1. True

2. False

false

According to Friedman, managers have responsibilities beyond those they assume voluntarily, so they must sometimes thwart even the legitimate goals of their stakeholders.
1. True

2. False

false

According to Edward Freeman, stockholders/shareholders are the owners of a corporation and so corporations should be run solely in their interests.

1. True

2. False

False

According to Freeman, the managers of a corporation have a special role: to keep the relationships among stakeholders in balance.

1. True

2. False

True

According to Freeman, members of various stakeholder groups are really just means of production - like capital goods - and should be treated as such.

1. True

2. False

False

According to Freeman, members of various stakeholder groups are really just means of production - like capital goods - and should be treated as such.

1. True

2. False

False

Hochschild's concern about alienated labor is that a worker can become estranged from the aspect of their self used to do the work - their employer lays claim to their emotional reactions.

1. True

2. False

True

Localities (states, counties, cities) offer firms money (etc.) in order to attract, retain, or enhance economic activity.

1. True

2. False

True

According to Ellis, Hayden, and Rogers, Economic Development Incentives are rarely effective.

1. True

2. False

True

According to Ellis, Hayden, and Rogers, Economic Development Incentives can lead to a 'winner's curse because localities overpay for firms.

1. True

2. False

True

According to Shaw, affirmative action is a form of reverse job discrimination.

1. True

2. False

True

According to Mullainathan, Kahneman's 'System 2' (slow') thinking helps explain the existence of employment discrimination.

1. True

2. False

False

According to Milton Friedman, managers should focus on stockholder/shareholder interests because

1. doing so maximizes economic output.

2. stockholders are their natural superiors.

3. as employees, that is what they have contracted to do.

4. none of the above

as employees, that is what they have contracted to do.

Milton Friedman's argument for shareholder primacy is based in

1. Libertarianism

2. utilitarianism

3. feminism

4. teleology

Libertarianism

According to Milton Friedman, the limit on shareholder primacy is

1. not violating the laws of the jurisdiction in which the firm is based.

2. not undermining the social good.

3. not violating anyone's autonomy.

4. none of the above

not violating the laws of the jurisdiction in which the firm is based.

17. According to Freeman, which of the following parties are among the stakeholders in a firm's success?

1. the firm's stockholders

2. the firm's bondholders

3. the local community

4. all of the above

all of the above

According to Freeman, the "normative core" of stakeholder theory is

1. feminism.

2. property rights and moral constraints on those rights.

3. a set of moral narratives, one for each stakeholder group.

4. none of the above

property rights and moral constraints on those rights.

According to Hochschild, emotional labor is...

1. when an employer requires employees to induce or suppress emotions as part of the job.

2. when a firm's workforce is too emotional to complete its work.

3. both of the above

4. none of the above

when an employer requires employees to induce or suppress emotions as part of the job.

According to the "Glass Floor" document, tipped workers who earn a sub-minimum wage experience inappropriate treatment from

1. customers.

2. co-workers.

3. management.

4. all of the above

all of the above

According to Ellis, Hayden, and Rogers it is

1. easy to get good economic information about counterfactuals.

2. obvious to most that Economic Development Incentives are just a giveaway to the rich.

3. surprising to many that Economic Development Incentives do not work - they make some intuitive sense.

4. none of the above

Surprising to many that Economic Development Incentives do not work - they make some intuitive sense.

According to Ellis, Hayden, and Rogers, doing reasonable economic development incentives requires

1. propitious circumstances that are unlikely to spark a "bidding war" for a firm.

2. good information about economic counterfactuals, to avoid subsidizing the wrong firms.

3. a full accounting of costs, not only of the incentives themselves, but also of the project being promoted.

4. all of the above

all of the above

According to Shaw, there is ______ evidence that disparities in outcomes among different racial groups are caused by racial discrimination.

1. no real

2. very good

3. only ambiguous

4. none of the above

very good

24. In 2016, the ratio of median family wealth between black families and white families was

1. 1:1 - black and white families had the same median family wealth.

2. 1:10 - white families had 10 times the median family wealth of black families.

3. 1:100 - white families had 100 times the median family wealth of black families.

4. none of the above - we never even talked about median family wealth.

1:10 - white families had 10 times the median family wealth of black families.

According to Shaw, which of the following is not an example of job discrimination:

1. an executive purposely disregards job applications from women because he believes they should be home taking care of their husbands and children.

2. a national firm routinely transfers Hispanic employees around the country on temporary, low-level assignments where they function as little more than translators for their non-Hispanic colleagues.

3. a manager's merit-pay recommendations are influenced by his implicit assumption that male employees are career oriented and have families to support, whereas female employees are there just to make a little extra money.

4. none of the above - these are all examples of job discrimination.

none of the above - these are all examples of job discrimination.