Quiz Autumn 2020, questions and answers PDF

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Quiz Submissions - Mid TermAnonymous username:Attempt 1 Written: Oct 22, 2020 10:00 AM - Oct 22, 2020 11:20 AM Submission ViewTrue/False (24 points) Question 1 3 / 3 points All stakeholders are stockholders.Question 2 3 / 3 points Price-fixing is unfair to consumers but it is not illegal.Question 3 ...

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1/15/2021

: Quiz Submissions - Mid Term - PHI2397[A] Business Ethics 20209 - Université d'Ottawa | University of Ottawa

Quiz Submissions - Mid Term Anonymous username: Attempt 1 Written: Oct 22, 2020 10:00 AM - Oct 22, 2020 11:20 AM Submission View Your quiz has been submitted successfully. True/False (24 points) Question 1

3 / 3 points

All stakeholders are stockholders. True False Question 2

3 / 3 points

Price-fixing is unfair to consumers but it is not illegal. True False Question 3

3 / 3 points

The trouble with a Ponzi scheme is that it makes overly risky investments. True False Question 4

3 / 3 points

The financial liability of a corporation is different from the personal financial liability of its shareholders as owners. True False Question 5

3 / 3 points

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1/15/2021

: Quiz Submissions - Mid Term - PHI2397[A] Business Ethics 20209 - Université d'Ottawa | University of Ottawa

According to utilitarianism, a person can do the right thing without the best of intentions. True False Question 6

0 / 3 points

The federal government in Canada does not regulate stock markets. True False Question 7

3 / 3 points

In the technical economic sense, a "public good" is one which, if someone produces and pays for it, others can benefit without paying. True False Question 8

0 / 3 points

The global economic crisis that began in 2007 was entirely unprecedented and unpredictable. True False Multiple Choice (60 points) Question 9

0 / 6 points

Which of the following is not true of Friedman's view about corporate social responsibility? Check all that apply. A) Managers applying corporate social responsibility are wrongly using shareholders money to do so. B) Corporate social responsibility is contrary to idea that the public good is achieved by an "invisible hand". C) A minimum wage is a necessary and desirable feature of a sound economy. D) The basic rules of the economic system are made by government, not business.

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1/15/2021

: Quiz Submissions - Mid Term - PHI2397[A] Business Ethics 20209 - Université d'Ottawa | University of Ottawa

Question 10

4.5 / 6 points

Which of the following were distinctive factors in the special risk of explosion with Ford's Pinto? Check all that apply. A) Ford, faced with foreign competition, rushed ahead with the production of the car. B) Ford neglected to apply a correction to the design of the car. C) Ford's cost-benefit analysis calculated that the financial liability in case of explosions was less than the cost of altering the design of the car. D) A rear-end collision to the Pinto from a vehicle at even low speed could cause an explosion. E) Gas tanks in cars contain a flammable substance.

Question 11

6 / 6 points

Which of the following best describes Albert Carr's view in "Is Business Bluffing Ethical?" Being good at business requires a strategy just as being good at playing any game does. Bluffing in poker is a form of cheating, which shows that cheating is not always wrong. Just as bluffing is an expected and legitimate strategy in poker, it similarly is in business The best poker players don't bluff; they are just lucky with cards; similarly, the best business people are basically just lucky.

Question 12

4.5 / 6 points

Which of the following are true of the ethical theory of absolute rules? Check all that apply. A) The theory requires that moral actions must be universalizable. B) The theory insists that other people must never be used simply as a means to one's own ends. C) The theory makes good sense of some basic prohibitions.

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: Quiz Submissions - Mid Term - PHI2397[A] Business Ethics 20209 - Université d'Ottawa | University of Ottawa

D) The theory allows for sacrificing some values for the sake of others.

Question 13

0 / 6 points

Which of the following is not a feature of the neoclassical ideal of a private enterprise/capitalist economy? All economic goods and services must be included. There is perfect competition, i.e. no monopoly. It upholds a major role for government regulation. Buyers and sellers are equally and adequately informed

Question 14

6 / 6 points

Which of the following was not a factor in the S&L scandal? The net worth requirement for S&Ls was lowered by the government. Deposits were federally insured by the government S&Ls were designed to enable lending money for home mortgages. There was no cost to the citizens as taxpayers because of the S&L failures.

Question 15

4 / 6 points

Which of the following occurred in the global crisis of 2007+. Check all that apply. A) Housing prices increased dramatically. B) Banks and financial institutions continued with loans to businesses as usual. C) New instruments of securitization were a major problem. D) The Canadian government avoided a costly stimulus to the economy

Question 16

4 / 6 points

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: Quiz Submissions - Mid Term - PHI2397[A] Business Ethics 20209 - Université d'Ottawa | University of Ottawa

For what reason or reasons did the United States Supreme Court judge that a television commercial about shaving cream involved misleading advertising? Check all that apply. A) The commercial claimed that the shaving cream could shave sandpaper smooth when it actually could not. B) What the commercial claimed to be showing to viewers was not actually what was occurring. C) There is no reason to believe that being able to shave sandpaper makes for good shaving cream. D) Other brands of shaving cream might be just as effective as the one being advertised.

Question 17

6 / 6 points

Which of the following is not true about the prisoners' dilemma? Check all that apply. A) Since each prisoner does not know what the other would do, both should confess. B) The prisoners' problem would be solved if they could communicate and agree on what to do. C) The prisoners' dilemma supports the idea of an "invisible hand" about the economy. D) The dilemma is that unqualified self-interest leads to the opposite of self-interest.

Question 18

6 / 6 points

Which reason or reasons in the following explain why "insider trading" is illegal? Check all that apply. A) It is not right that some people can make a lot of money in the stock market because they are "experts". B) It allows some people to use "privileged information" that only they are in a position to know. C) It is extremely speculative and risky. D) The only way anyone can benefit from insider trading is by being related to the https://uottawa.brightspace.com/d2l/lms/quizzing/user/quiz_submissions_attempt.d2l?isprv=&qi=192328&ai=2062454&isInPopup=0&cfql=0&fromQB=… 5/7

1/15/2021

: Quiz Submissions - Mid Term - PHI2397[A] Business Ethics 20209 - Université d'Ottawa | University of Ottawa

company's owners.

Short Answer (16 points) Answer each in a minimum of three lines to a maximum of six lines. Question 19

2 / 8 points

Explain what Galbraith means by the "dependence effect" in advertising, and why he thinks it poses a problem for a market-based economy. Provide and explain a criticism of his view. Galbraith view of the "dependence effect" in advertising relates to businesses creates wants in people, also states that advertising convinces/persuades people that they need things they don't really need. Also relates to the desire of expanding production/profits require creating consumer desires in advertising. This creates a problem in a market-based economy due to the facts its decided by the law of supply and demand. But a criticism of his view is that it creates social needs where much important things are sacrificed for private desires/wants. The correct answer is not displayed for Written Response type questions. View Feedback

Question 20

2.5 / 8 points

What is the role of a board of directors of a corporation and why is there often criticism of boards of directors? What is at least one recommendation made by the critics to improve the situation? The board of directors is the highest authority within the corporation, their role is survey the operation of management and to act on the benefit of their shareholder. One recommendation is that board members should be full time professional/ employees in their field of expertise. They have became more passive in the roles currently and should be more engaged forthcoming. The correct answer is not displayed for Written Response type questions. View Feedback

Attempt Score:63.5 / 100 Overall Grade (highest attempt):63.5 / 100

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: Quiz Submissions - Mid Term - PHI2397[A] Business Ethics 20209 - Université d'Ottawa | University of Ottawa

Done

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