Chapter 3 According Milton Friedman Executive Imposes Taxes Shareholders

Page Count
9 pages
Word Count
2706 words
Book Title
Business Ethics: Case Studies and Selected Readings 8th Edition
Marianne M. Jennings
Business Ethics, 8e Jennings
True/False Questions
mandated by law.
example of a utilitarianism application.
and craftsmen.
Business Ethics, 8e Jennings
conventional loans.
Multiple Choice Questions
1. According to Milton Friedman, an executive imposes taxes on shareholders when:
2. Who said, “All businesses, forewarned, should be proactive, not reactive. They must be
prepared to fight fire with fire and, if necessary, should be prepared to take their case all the way
to the court”?
3. Which of the following is not considered a stakeholder?
4. Who believes that putting shareholders first is the wrong approach to corporate governance?
5. Who would take issue with the philosophy, “Treat employees well because then stockholders will
6. What was the issue with the Ice-T Body Count CD?
7. Who said, “The question is not about business, it’s about responsibility”?
8. Who said, “I don’t think that people in the media can say that advertising influences consumers to
buy cars or shirts, and then argue that violence on television or in music has no impact?
9. What group sold its Time Warner stock following the Ice-T Body Count CD release?
10. Who said, “I don’t condone cop killing. [But] to reach a more just and equitable society
everybody’s voice must be heard”?
11. Who spoke in protest of the Ice-T CD at Time Warner’s annual meeting?
12. What past changes had Time Warner made based on public protests on content?
13. What percentage of total record sales is rap music?
14. Following Body Count:
15. Following Body Count:
16. Businesses must face social issues because:
17. The Body Shop founder Anita Roddick said that she didn’t care about making money; she only
cared about making the world a better place. Into which school of social responsibility would you
place Ms. Roddick?
18. Nobel economist Milton Friedman said that the social responsibility of a business is to make
money for its shareholders. Into which school of social responsibility would you place Dr.
19. A company CEO said, If it’s legal, it’s ethical. I do nothing more.” Into which school of social
responsibility would you place this CEO?
20. XYZ Corporation expects its managers and employees to testify at congressional hearings and
appear before state legislatures to advocate policy positions on everything from taxes to activities
in national parks. Into which school of social responsibility would you place XYZ Corporation?
Business Ethics, 8e Jennings
21. Which player wrote a book that named names of baseball players who used steroids?
22. Who said that the social responsibility of business is to earn a profit?
23. Which of the following’s views is aligned most closely with the inherence school of social
24. The enlightened self-interest school of social responsibility:
25. The conflicting values in the Time Warner Ice-T case are:
26. Which of the following is not a stakeholder in a business?
27. The definition of “stakeholder”:
28. Which school of social responsibility most closely matches Freeman’s Stakeholder Theory?
29. Freeman’s Stakeholder Theory:
30. Which of the following are not stakeholders under Freeman’s theory?
31. Milton Friedman’s view on executive compensation is:
32. Which of the following is not one of Novak’s seven internal responsibilities of a corporation?
33. Who said, “All sensible businessmen prefer to be truthful, but they seldom feel inclined to tell the
whole truth”?
34. Social responsibility by a business:
35. Rain forest chic:
36. Whom does Marjorie Kelly believe should be rewarded the most for the creation of wealth in a
37. In which stage of the regulatory cycle do scientific studies document an evolving issue?
38. What was the impact of the Community Reinvestment Act on Fannie Mae?
39. Who were “Friends of Angelo”?
40. What is the order of the stages in the regulatory cycle?
41. As the regulatory cycle progresses:
42. Where in the regulatory cycle would you place text messaging?
Business Ethics, 8e Jennings
43. Which of the following is not a stage in the regulatory cycle?
44. Place the following in the order of their progression in the regulatory cycle:
I. Activism
II. Awareness
III. Latency
IV. Regulation/Litigation
45. Why does a company act voluntarily in implementing procedures and equipment beyond the
statutory requirements?
46. Who created Fannie Mae?
47. Which of the following lists did Fannie Mae not make?
48. What was branded in the brains of Fannie Mae employees?
49. Fannie Mae’s policies on amortization:
50. How did Fannie Mae discover the flaws in its computer model for amortization?
51. What was the amount of Fannie Mae’s restatement of its revenue?
52. The music industry’s warning labels on CDs:
53. Why does John Mackey believe many people go into business?
54. Which formula does Kelly propose for corporate finances?
55. John Mackey believes which of the following?
56. What happened to the prosecutors in the Stevens case?
57. What was the Wrigley company's concern in the use of Skittles in honoring Trayvon Martin?
58. Which of the following is a characteristic of the gun regulatory debates?
59. Which of the following best describes Craigslist's liability for content on its site?
60. What happened when Smith & Wesson broke rank and decided to settle the gun litigation?
61. What types of ethical issues occur at the individual level?
62. What types of ethical issues occur at the societal level?
63. What affects company/organizational lapses?
64. At what level of ethical lapses is the use of PEDs by players?
65. What problem does the United States face in criminal investigations of cruise line events?
66. Which is the number one cause of mortgage foreclosures?
67. Where are most cruise companies paying taxes?
68. What is the average wage of a cruise ship worker?
69. What was the price of the GM Volt?
70. How much of a rebate did the government offer GM Volt buyers?
71. What was unique about the compounding industry?
72. Where is the GM Volt today?
Business Ethics, 8e Jennings
73. What issue affects farmers' markets?
74. What impact has the demand for biofuels had in countries like Guatemala?
75. What issue did the federal auditor raise about Stanford's research overhead expenses?
76. What happened to Donald Kennedy, the president of Stanford University, after the audit of the
school's overhead research costs?
77. What happened with Solyndra?
78. What methods do businesses use to obtain minority-owned business status?
79. What did Herman Miller gain through its environmental initiatives?
80. Former Prosecutor Michael Nifong of Durham County, North Carolina:

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