Ethics Exam 1

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Ethics addresses the question of

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how we should live

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Ethics does not investigate questions of

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mind and body

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Business ethics is the study of what constitutes good and bad human conduct in a

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business setting

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Who discussed whether a merchant should tell people more goods similar to his are on their way?

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Cicero

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Business ethics dates to

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Ancient times

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"Business" and "businessperson" are

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broad terms

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The objective of businesses is to provide goods or services for

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profit

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A group of persons working together for a common purpose is

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an organization

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Moral standards concern behavior that is

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of serious consequence to human welfare

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Whether you should copy a pirated DVD on your office computer is a

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moral question

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What term generally refers to any special code of special behavior?

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etiquette

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Rules of etiquette are generally

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nonmoral

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Laws enacted by legislative bodies are called

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statutes

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Common law is

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judge made law

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Who did Martin Luther King Jr address his "Letter from Birmingham Jail" to?

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fellow clergy

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Professional codes of ethics lie somewhere between

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etiquette and law

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For philosophers, the important question is

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whether our moral principles can be justified

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Any religion provides its believers with a

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worldview

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The Golden Rule represents

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one of humankind's highest moral ideals

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The idea that morality must be based on religion can be interpreted in

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three ways

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The moral instructions of the world's great relgions are

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general and imprecise

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The view that what is right is determined by what a culture says is right is

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ethical relativism

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Carr depends a form of

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ethical relativism

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The tendency to let the behavior of those around us dictate our response in emergencies is known as

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bystander apathy

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Which theories of ethics contend that right and wrong are determined by more than the likely consequences of an action?

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nonconsequenttialist theories

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Nonconsequentialist theories are also called

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Deontological theories

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Epicurus was a

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hedonist

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Someone who holds that everyone should let self interest guide their actions is a

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impersonal egoist

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The view that equates morality with self interest is

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egoism

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Psychological hedonists hold that humans are by nature

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selfish

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The view that we should always act so as to produce the greatest possible balance of good over bad for everyone affected by our actions is known as

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utilitarianism

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Jeremy Bentham and John Stuart Mill both endorsed

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utilitariansim

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By "good" utilitarians mean

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happiness and pleasure

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The "hedonic calculus" was developed by

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Bentham

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A. C. Ewing criticized

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Act utilitarian principles

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Adam Smith argued that if business is left to pursue its own self interest

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The good of society will be served

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The view that it is morally acceptable for individuals to pursue their own self interests while engaged in business is called

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Business egoism

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Kant believed that moral rules can, in principle, be known from

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Reason alone

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For Kant, nothing is good in itself except

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A good will

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Kant's theory is

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nonconsequentialist

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For Kant, the subjective principle of an action is known as a

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maxim

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Kant held that a moral law must have

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universal acceptability

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Kant held that humanity should always be treated as

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ends in themselves

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The unnecessary buying and selling of stocks to generate commissions is known as

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churning

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W.D. Ross believed that all (or most) of our obligations are

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Prima facie obligations

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The ethical perspective of W.D. Ross is

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Pluralist

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The view that the utilitarian standard should be applied to moral codes as a whole is

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rule utilitarianism

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According to V.R. Ruggiero, how many concerns are common to most ethical systems?

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Three

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Who is known for first holding that we should treat like cases alike?

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Aristotle

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The topic of the proper distribution of burdens and benefits is known as

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Distributive justice

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Who made the violation of one's moral rights the defining characteristic of injustice?

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John Stuart Mill

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Rawls' theory of justice is

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an egalitarian theory

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Justice for Mill was ultimately a matter of

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promoting social well being

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Brandt defends the equality of after tax income on

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utilitarian grounds

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Libertarians assume that liberty means

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noninterference

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Nozick begins with the premise that people have

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certain basic moral rights

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Nozick refers to the firm restrictions that rights impose as

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side constraints

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Nozick calls his theory of justice the

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entitlement theory

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Locke held that individuals are entitled to

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the products of their labor

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For Locke, prior to the formation of government property rights were limited by the requirement that one not waste, and by restriction that

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enough and as good was left for others

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Nozick calls his theory

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historical

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Libertarians endorse

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free markets

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Libertarians hold that market relations are necessary to respect

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human liberty

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Rawls, on his own account, presents his theory as a modern alternative to

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utilitarianism

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Rawls suggests that we imagine the people in the original position choosing on the basis of

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self interest

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The distinctive core of Rawls' theory is the

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difference principle

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Rawls views society as

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a cooperative project for mutual benefit

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Rawls regards natural talents as

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a common asset

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Who holds that different norms and principles govern different distributive spheres?

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Walzer

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Who wrote A Theory of Justice?

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Rawls

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Who wrote Spheres of Justice?

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Walzer

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Who wrote Anarchy, State, and Utopia?

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Nozick

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What we know as "capitalism" did not fully emerge until

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The Renaissance

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Capitalism that is based on mutual dependence between state and commercial interests is known as

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Mercantile capitalism

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The type of capitalism that was ushered in during the Great Depression is

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State welfare capitalism

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What did Smith think was the regulator that keeps a community activated by self interest stable?

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free competition

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Capital is

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money invested for the purpose of making more money

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Who is known for developing the concept of the invisible hand?

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Smith

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Adam Smith held that humans have a natural propensity to

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Truck, barter, and exchange

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Unlike other species, we have an almost constant need for

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the assistance of others

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The two types of criticism that capitalism is subject to are

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theoretical and operational

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The theory of capitalism rests on a view of humans as

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rational economic creatures

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Karl Marx argued that capitalism leads to

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Oligopolies

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The biggest five refiners in the US control

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56% of the market

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From 1995 to 2002, US taxpayers spent around

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$114 billion in subsidies to farmers

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Subsidies for farmers and tariffs on steel, sugar, and ethanol are examples of

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corporate welfare

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The 2008 Troubled Assets Relief Program Cost

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$700 billion

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Karl Marx held that capitalists make profits through

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exploiting their workers

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Karl Marx held that workers inevitably experience

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alienation

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the hundres of workers interviewed by Studs Terkel all spoke of

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Dehumanization

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Historically, capitalists have made money by

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producing goods

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Companies that now produce only the package and the label of the goods they sell are

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hollow corporations

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the US owes the rest of the world

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$3 trillion

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The view that work is valuable for its own sake is the

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work ethic

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Paul Kostek is a

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career development expert

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Americans work ____ more than they did in 1970

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20%