Economics Quiz

Question 1
5 out of 5 points
Correct
Which of the following is a type of law referencing formal rules embodied in judicial decisions rendered by courts?
Answer
Selected Answer:
Public
Correct Answer:
Public
Question 2
5 out of 5 points
Correct
Which of the following is not one of the four primary public policy objectives furthered by laws and regulations applicable to U.S. business?
Answer
Selected Answer:
Promoting governmental regulation
Correct Answer:
Promoting governmental regulation
Question 3
5 out of 5 points
Correct
Which of the following was enacted after widespread abuses in the subprime mortgage market?
Answer
Selected Answer:
The Dodd-Frank Wall Street Reform and Consumer Protection Act
of 2010
Correct Answer:
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
Question 4
0 out of 5 points
Incorrect
Which of the following is a type of law referencing formal rules embodied in constitutions and statutes enacted by legislatures?
Answer
Selected Answer:
Substantive
Correct Answer:
Public
Question 5
5 out of 5 points
Correct
The ______ approach to business and society introduced in the text is a descriptive framework that integrates legal and societal considerations with mainstream theories of competitive advantage and social responsibility.
Answer
Selected Answer:
Systems
Correct Answer:
Systems
Question 6
5 out of 5 points
Correct
Managers can make their own ______ law by entering into contracts and crafting certain governance structures.
Answer
Selected Answer:
Private
Correct Answer:
Private
Question 7
5 out of 5 points
Correct
Which of the following was created by food advertisers in an attempt to halt government regulation aimed at stopping marketing preying on children’s vulnerability?
Answer
Selected Answer:
The Children’s Advertising Review Unit
Correct Answer:
The Children’s Advertising Review Unit
Question 8
5 out of 5 points
Correct
The “systems approach” to business and society builds on which of the following stakeholder theory insights?
Answer
Selected Answer:
That firms have relationships with many constituent groups, which both affect and are affected by the actions of the firm.
Correct Answer:
That firms have relationships with many constituent groups, which both affect and are affected by the actions of the firm.
Question 9
0 out of 5 points
Incorrect
Which of the following is listed in the text as a component of managing risk when assembling a team in business development?
Answer
Selected Answer:
Purposefully refusing to address issues such as sexual harassment
Correct Answer:
Analyzing any covenants not to compete
Question 10
0 out of 5 points
Incorrect
Which of the following is an advocacy group that has lobbied against marketing to children?
Answer
Selected Answer:
The Alliance to Ban Advertising Targeting Children
Correct Answer:
The Center for Science in the Public Interest
Question 11
5 out of 5 points
Correct
Which of the following is part of Kant’s categorical imperative?
Answer
Selected Answer:
The form of an action rather than the intended result determines the ethical worth.
Correct Answer:
The form of an action rather than the intended result determines the ethical worth.
Question 12
0 out of 5 points
Incorrect
Which of the following illustrates that corporate conduct violating society’s expectations can result in new forms of regulation without regard for feasibility or cost?
Answer
Selected Answer:
The Corporate and Securities Reform and Retribution Consumer Protection Act of 2011
Correct Answer:
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
Question 13
5 out of 5 points
Correct
Nobel prize winner Milton Friedman asserts that “social responsibility” is a fundamentally ____________ doctrine.
Answer
Selected Answer: subversive Correct Answer: subversive Question 14
5 out of 5 points
Correct
In which of the following are a majority of Fortune 500 companies incorporated?
Answer
Selected Answer:
Delaware
Correct Answer:
Delaware
Question 15
0 out of 5 points
Incorrect
Which of the following is a stakeholder of a corporation?
Answer
Selected Answer:
Employees and customers, but not managers
Correct Answer:
Customers, employees and managers
Question 16
5 out of 5 points
Correct
Which of the following are the three main theories under the comparative justice framework?
Answer
Selected Answer:
Distributive, compensatory, and retributive
Correct Answer:
Distributive, compensatory, and retributive
Question 17
5 out of 5 points
Correct
According to the Delaware Supreme Court, when does the role of a director shift from being a “protector of the corporate bastion” to being an “auctioneer” charged with obtaining the highest realizable short-term value for the shareholders?
Answer
Selected Answer:
Only when the breakup of the corporation or a change of control has become inevitable
Correct Answer:
Only when the breakup of the corporation or a change of control has become inevitable
Question 18
0 out of 5 points
Incorrect
Which of the following is not an example of St. Thomas Aquinas’ requirements for a law to be just?
Answer
Selected Answer:
The law must be consonant with a reasoned determination of the universal good.
Correct Answer:
The law must be formed to promote a private benefit to the majority.
Question 19
5 out of 5 points
Correct
Monica tells all her employees that she expects them to treat others as they would like to be treated. Which of following is a descriptive term for Monica’s
requirement?
Answer
Selected Answer:
The Golden Rule
Correct Answer:
The Golden Rule
Question 20
0 out of 5 points
Incorrect
Which of the following is the group given the ultimate legal authority to change management?
Answer
Selected Answer:
Human resource managers
Correct Answer:
Shareholders