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168 Cards in this Set

  • Front
  • Back
The persons who provide the capital to a corporation are its

Stockholders

Modern corporations are, in principle

Three tiered structures

_____ _____ is a key feature in modern corporation

limited liability

The stock of publically held companies is traded

among the general public

What did Nicholas Murray Butler hold was the greatest discovery of modern times?
the limited liability corporation

The incorporation of business enterprises began

during the Elizabethan era

The first instance of the corporate organization of manufacturing enterprise in the US occurred in


1813




The East India Company was formed in

1600
Corporations are clearly

legal agents

Lord Thurlow said that you could not expect a corporation to have

a conscience

Thomas Donaldson holds that corporations can be

moral agents

Peter French controversially believes that corporate acts are

intentional

The narrow view of corporate responsibility is endorsed by

Milton Friedman

The narrow view of corporate responsibility is that corporations should only

maximize profits

Who wrote "the rules of the game"?

Milton Friedman
Keith Davis believes that
social responsibility arises from social power

The stakeholder model is also called the

social entity model

Who cast the case for a broader view of corporate responsibility is a historical perspective?
Melvin Anshen

The unintended negative or positive effects of business activity are called by economists

externalities

Who owns a company?

stockholders

Adam Smith claims that an invisible hand

promotes the general good

Paul Camenisch holds that business

propagates a view of humanity and the good life

Christopher Stone argues that there are limits

to what the law can do

One challenge to the assumption that profits come at the expense of ethics is

Kenneth Arrow

In 2009 the FDA was empowered to regulate

cigarettes

Every year, consumer products electrocute approximate

200 people a year

The court case that established consumers' rights to sue the manufacturer of products was

MacPherson v. Buick Motor Car

In 1972 Congress passed the

Consumer Product Safety Act

Had air bags been standard equipment in 1974, how many deaths might have been prevented?

70,000

When did a government agency begin testing candy for its potential to choke children?

2003

Iacocca used to say "safety doesn't..."

sell

Cigarette fires are responsible for how many serious injuries a year?

7000

The claim that a product is fit for its ordinary use is

an implied warranty

When manufacturers and retailers agree to set prices, this is

vertical price fixing

Until when was it illegal for a manufacturer and retailer to fix prices?

2007

A seller's exploitation of a short term situation in which buyers have few purchase options for a much needed product is called

price gouging

The question of what a fair price is

robably lacks a precise answerp

When an "economy size" product is sold at a higher price than their smaller counterparts they are being subjected to

a quantity surcharge

L'Occitane labels its products in

braille

Ads that can be understood in two or more ways are

ambiguous

Words used to evade direct statements are

weasel words

In advertising, a claim that is unsupported b y evidence is

an exaggeration

A persuasive effort aimed primarily at emotion is a

psychological appeal

Advertising that communicates at a level beneath conscious awareness is

subliminal

The Federal Trade Commission was created by

1914

The Federal Trade Commission was created as

an antitrust weapon

The decision in FTC v. Standard Education led the FTC to apply which standard liberally?

the ignorant person standard

Every year children under twelve spend

$40 billion

Of the 18,000 objects orbiting Earth, how many are rubbish?

17,100

When was the Clean Water Act passed?

1972

What proportion of US waters fail to meet the 1972 standards for being safe for fishing and swimming?

2/3

How many pounds of hazardous materials enter the air each year?

2 billion

Which gas is responsible for the greenhouse effect?

CO2

How many tons of animal manure does the US generate each year?

1.4 billion

which virus is responsible for the decline population in Yellowstone Park?

parvovirus

The belief that natural resources are free and limitless encourages

wasteful consumption of them

Which industry exemplifies Hardin's point about the tragedy of the commons?

international fishing

How many gallons of water does it take to make an automobile?

100,000

How many gallons of rainwater does America use for every 60 returned by nature?

75

In a case in Thailand what was worth 75% more when left to provide natural reosources rather than be converted into a fish farm?

a mangrove swamp

The Interior Department has introduced wolves into

Montana, Wyoming, and Idaho

Two popular answers to the question of who should pay the costs of pollution are

those responsible for it and those who would benefit from protection and restoration

Who has probably profited more than any other group from treating the environment as a free good?

business

Approximately what proportion of the world's automobiles are owned in the US?

25%

The US farm population is now around

2%

Which approach to environmental protection makes use of direct public regulation and control?

the regulatory approach

How many toxic contaminants were targeted by the EPA's 33/50 approach?

17

Who believes that it is immoral to buy the right to polute?

Michael J. Sandel

Who holds that measures to reduce greenhouse gas emissions need not harm the economy?

Arrow and Solow

Who discussed the original position in the context of our obligations to future generations?

John Ross

Annette Baier is concerned with

the good of continuing human community

William F. Baxter recognizes

the anthropocentric bias of his own approach

What led to the unionization of the US auto industry?

The Flint Sit Down Strike

Who contends that a person's rights as an American citizen disappear when you walk through the office door?

Lewis Maltby

Who sees the corporate invasion of American civil liberties as rampant?

David W. Ewing

When did the US Supreme Court ratify the common law principle that an employer may dismiss their employees at will?

1915

Common law requires that an employee

be loyal to her employer

How many Americans have contracts that have contractual provisions contrary to employment at will?

about 10%

The US Supreme Court has ruled that a state cannot deny unemployment benefits to employees who are fired for refusing to work on

a Sabbath day

The First Amendment does not protect speech

public employees make in the course of their official duties

Acting morally is generally

in one's long term best interests

Job specifications to which the civil rights law does not apply are called

BFOQs

How many employees must a company have to fall under the jurisdiction of the Americans with Disabilities Act?

15

Jaccercise now agrees that

people of varying weights can be fit

According to Charles Arons, the hurdles men face returning to the job market are how many times greater than those faced by women?

three

Which court case led US firms to retreat from administering pre-employment tests?

Griggs

Francis Bacon referred to biases as

idols of the mind

Who thought the human understanding was like a false mirror?

Bacon

Which type of interview requires employees to engage in role play in a mock office scenario?

situation interview

Seniority refers to

longevity with the firm

The practice of promoting from within a firm is called

inbreeding

The practice of showing favoritism to relatives and close friends is called

nepotism

The requirement that the reasons for discipline or discharge deal directly with performance is called

just cause

The principle that refers to the fairness of the procedures for worker discipline and discharge is called

due process

An employees' poor performance could result in

termination

Temporary unemployment in which an employee is subject to recall is a

lay off

Our concern for privacy has ____ dimensions

three

The strength of a privacy right depends on

circumstances

Enterprise Rent A Car lays down ___ dress code guidelines for women

30

Wellness programs are

paternalistic

Compulsion comes in

degrees

Informed consent implies deliberation and ____ _____

free choice

For consent to be legitimate, it must be

voluntary

Polygraph tests record changes in

physciological processes

The use of polygraphs is argued to allow business to abolish the use of

audits

Lynn Mach holds that polygraphs are accurate

90% of the time

David T. Lykken holds that polygraphs have, at most, been measured as being accurate

63% of the time

Polygraphs infringe on

privacy

Christopher Pyle holds that polygraphs infringe on

privacy

The Employee Polygraph Protection Act was passed in

1988

How many of the Fortune 100 companies use the Myers-Brigg Type Indicator

89

The Electronic Communications Privacy Act was passed in

1986

How many large corporations test their employees or job applicants for illegal substances

67%

According to the US Census Bureau, about how many workers are killed on the job in any given year?

5,000

According to the director of OSHA, about how many workers are killed on the job each day in the US/

32

Voluntary assumption or risk presupposes

informed consent

The right to refuse dangerous work is a

legal right

The Occupational Health and Safety Act was passed in

1970

Critics say that OSHA has moved from being a

beat cop to a social worker

A study showed that OSHA declined to prosecute in what percentage of cases of "willful" safety violations?

93

A business firm functions

to make money

The notion of company loyalty, according to Shaw, is

commonplace

What is the primary source of an organization's right to expect employees to act on its behalf?

contract

The buying or selling of stocks by business insiders on the basis of information that has not yet been made public is

insider trading

The SEC is the

Securities and Exchange Commission

Which theory of insider trading did the US Supreme Court endorse in 1997?

the misappropriation theory

Which Supreme Court case addressed insider trading in 1997?

US v. O'Hagan

Henry Manne

sees nothing wrong with insider trading

It is claimed that insider trading is good as it

increases market efficeincy

Proctor and Gamble once sued three rival food chains for making

infringing cookies

The Economic Espionage Act was passed in

1996

There are at least ___ arguments for protecting trade secrets

3

At one point, the job tenure of an executive in the software industry was

22 months

Nondisclosure contracts can conflict with

freedom of employement

To pay someone to violate his or her official duties is to

bribe them

A percentage payment made to a person able to influence or control a source of income is

kickback

The FCPA is the

Foreign Corrupt Practices Act

The FCPA was passed in

1977

The FCPA has exceptions for

grease payments

How many countries have passed legislation implementing the OECD Anti-Bribery Convention

37

How many of the world's industrialized nations have implemented the OECD Anti-Bribery Convention?

all of them

According to Shaw, the FCPA reflects

our moral standards

An employee's informing the public about the illegal or immoral behavior of an employer or organization is known as

whistle blowing

The voluntary release of non public information is

whistle blowing

Notre Dame did not hire an African American coach in any sport until

2002

Historically, most discrimination in the American workplace has focused on

women and minorities

Kant would hold that discriminating on the basis of race or sex was immoral because it

failed to respect persons as ends in themselves

How many respectable arguments are there in favor of racial and sexual discrimination

none

What is more important than predicting who will be fired from a job within the federal government

race

Who has the highest standard of living in the world, according to the UN

white Americans

What percentage of working African Americans hold white collar jobs?

40

Black workers with an advanced degree earn how much less than their white counterparts?

25%

Women are clustered in

pink collar occupations

The first Africans American CEO of a Fortunate 500 company was hired in

1999

In finance, how many cents do women make for every dollar earned by men?

68

Which Title of the Civil Rights Act of 1964 prohibits sexual and racial discrimination at work?

VII

How many male minority executives in large companies report feeling constrained by the white male model?

34

Edward W. Jones holds that all people

possess stereotypes

According to Edward W. Jones, stereotypes are powerful because of their

circularity

Which court case decided that racially segregated schooling was unconsitutational

Brown v. Board

When was the Equal Pay Act passed?

1963

What started the change towards laws that attempt to safeguard the right of each person to equal treatment in employment?

Executive Order 10925

What programs are designed to correct imbalances in employment that exist directly as a result of past discriminations

Affirmative Action Programs

What proportion of persons entering the workforce today are minorities or immigrants?

80%

The US Supreme Court's first major ruling on affirmative action was in

Bakke v. Regents of the University of California

In Memphis Firefights v. Stotts the Supreme Court upheld

seniority over affirmative action

In her majority opinion in Grutter v. Bollinger Justice O'Connor wrote that race conscious admissions policies must be

limited in time

Critics of affirmative action often label it

reverse discrimination