Question 1: Libertarianism refers to a philosophical system that endorses an essentially free market view of ethics.
True
False
Question 2: Kant's categorical imperative is the notion that every person should act only on those principles that he or she, as a rational person, would prescribe as universal laws.
True
False
Question 3: In most nations, the payment of bribes is accepted as a necessary and a lawful way of doing business.
True
False
Question 4: The Foreign Corrupt Practices Act (FCPA) was enacted in response to disclosure of widespread bribery by American firms.
True
False
Question 5: The 2002 Sarbanes-Oxley Act significantly increased penalties and provided other aggressive measures for attacking corporate crime by publicly traded companies.
True
False
Question 6: Social enterprise is a movement in which people launch nonprofits and businesses or take jobs using entrepreneurial and managerial skills for the purpose, in part, of addressing social problems.
True
False
Question 7: The free market view is that business' single "social responsibility" is lawful profit maximization.
True
False
Question 8: Historically, other stakeholders were more important than shareholders in their perceived importance to companies' decision-making.
True
False
Question 9: Substantive laws include the judicial system and the rules by which it operates.
True
False
Question 10: A civil action begins when the plaintiff files his/her first pleading, which is labeled a complaint.
True
False
Question 11: _____ in the United States, Japan, Denmark, and other nations favors business to create wealth and government to regulate as needed.
a. Regional socialism
b. Democratic capitalism
c. Religious socialism
d. State capitalism
Question 12: ____ in countries such as Russia, China, and Saudi Arabia employs the market to build wealth, which in turn is controlled and distributed by the state for its political purposes.
a. State capitalism
b. Regional socialism
c. Religious socialism
d. Democratic capitalism
Question 13: The pure free market approach assumes that:
a. business structures and societies can be operated at large free of all but foundational legal mechanisms.
b. less faith should be placed in the market and more in government planning.
c. centralized authority will result in a free government and economy free of corruption.
d. the legal systems in all countries should reflect a preference for greater central authority.
Question 14: Which of the following indicates an existentialist's belief?
a. An existentialist believes in maximizing Christian love.
b. An existentialist believes conduct can be rationally justified.
c. An existentialist believes that no actions are inherently right or wrong.
d. An existentialist believes in absolute adherence to the letter of the law.
Question 15: A(n) _____ believes that good must be weighed against evil in reaching an ethical decision.
a. existentialist
b. utilitarian
c. libertarian
d. consequentialist
Question 16: A father may be morally committed to saving his son from a burning building, rather than saving another person who might well do more total good for society. The action of the father would be primarily dictated by the _____ ethical system.
a. consequentialist
b. teleological
c. deontological
d. utilitarian
Question 17: Which of the following is true of political action committees?
a. The money disbursed by PACs is part of the general corporate accounts.
b. Corporations cannot solicit contributions from employees and shareholders.
c. PACs are only supposed to collect voluntary contributions.
d. PACs can only contribute to national elections, and not state elections.
Question 18: Which of the following is true of lobbying in the United States?
a. The activity is confined to the business community.
b. It has a negligible effect on political decisions.
c. It is illegal for lobbyists to approach politicians.
d. It often serves to educate politicians about various issues.
Question 19: Which among the following is a free trade arrangement that helps in the rapid movement of capital, technology, goods, and services throughout the world?
a. UNESCO
b. NAFTA
c. UNICEF
d. WHO
Question 20: Which of the following is true of Carroll's Social Responsibility Pyramid?
a. A company's social responsibility begins with making a profit lawfully.
b. A socially responsible firm would focus primarily on its discretionary and ethical responsibilities, and minimize its focus on economic gain.
c. A company's primary responsibility is philanthropy.
d. A firm's economic responsibilities should be limited to breaking even, and all profit should be invested in the community.
Question 21: Which of the following best defines the stakeholders of a corporation?
a. All those who stand to gain by the corporation's success.
b. All the groups that may significantly affect the firm's performance or be affected by it.
c. All those whose livelihood depends directly on the corporation itself.
d. All those who have invested financially in the corporation's activities.
Question 22: _____ are the supreme expressions of law at both the federal and state levels of government. All other law is subordinate to these.
a. Statutes
b. Regulations
c. Cases
d. Constitutions
Question 23: Which of the following statements is true about the doctrine of stare decisis?
a. According to this doctrine, judges must mandatorily follow precedent when making decisions.
b. It enhances efficiency in resolving cases.
c. It makes the law unstable and unpredictable.
d. This doctrine mandates that every case be resolved as though it were the first of its kind.
Question 24: Virtually all parties seeking Supreme Court review must petition the Court for a writ of _____, which commands the lower court to forward the trial records to the Court
a. elegit
b. certiori
c. attachment
d. mandamus
Question 25: _____ are the documents by which each party sets his/her initial case before the court.
a. Arraignments
b. Answers
c. Pleadings
d. Demurrers