UNC BUSI100 Final Exam and Actual
Answers.
Carnegie argues that the law of equity and inclusion is to what we owe our wonderful material
development, which brings improved conditions in its train - Answer False (law of
competition)
Carnegie describes the historical mode of manufacture as producing: - Answer crude articles
at high prices
According to Thoreau, which of the following is the choicest of relics? - Answer Books
Which of the following is a phrase from Thoreau? - Answer "The works of the great poets
have never been read by mankind for only great poets can read them"
In Smith's Wealth of Nations, he makes the argument that given equal profits between domestic
and foreign trade, a merchant is likely to put his greatest support into developing the foreign
market. - Answer False
Alexander Hamilton said: "the quick-sighted guidance of private interest, will, if left to itself,
infallibly find its own way to the most profitable employment; and it is by such employment that
the public prosperity will be most effectually promoted." This statement aligns most closely
with the author of course reading? - Answer Adam Smith
Pacioli would agree that every merchant's main purpose is to arrange all business transactions
in such a systematic way that one may understand each one of them at glance - Answer
False (main purpose is to make profit)
In Atlas Shrugged, Ayn Rand writes that money is a living power that dies without its root, and
that money will not serve the mind that cannot match it. Which other author of a course
reading express similar thoughts? - Answer Andrew Carnegie
Which of the following writers suggested that money is symbolic of society's moral values? -
Answer Rand
During class, Professor Hendricks highlighted a distribution from a research study that showed
abnormal distribution as it pertains to the reported amount of company profits. What
statement best describes the abnormality that was shown in the distribution? - Answer
There are too many firms that report profits just above 0
, When coaching at Rutgers, 21-year old Jim Valvano told his student-athletes before their first
game that they would be successful if they "focus on three things, and three things only." Which
of the following is on his list? - Answer Family, religon, green bay packers
During lecture, Professor Hendricks highlighted a recent report from the United Nations that
indicated there are fifty million people stuck in modern slavery, a significant increase from the
last reported number. - Answer True
Professor Hendricks watches too much sports on TV. What sport was highlighted in the clip that
he showed during one lecture? - Answer Tennis
During lecture, Professor Hendricks highlighted his research from a Harvard Business Review
article that showed solo founders are able to perform as well as co-founded ventures, even
though the solo founder is operating the firm without the help of any other individuals - Answer
False (solo founder has help from other individuals)
According to Plato, creativity is the mother of invention, capable of giving rise to a new state. -
Answer False (necessity)
Plato writes, "The natural advantages which one country has over another, in producing
particular commodities, are sometimes so great, that it is acknowledged by all the world to be
in vain to struggle with them." - Answer False (Adam Smith)
In The Souls of Black Folk, W.E.B. Du Bois writes, "The keynote of the Black Belt is debt." What
does he describe this debt to be? - Answer The continued inability for the population to have
their income cover their expenses
Daniel Defoe is believes that there is a connection between the exactness of a tradeperson's
bookkeeping and the tradeperson's prosperity. - Answer True
During lecture, we highlighted that an ironic component of Defoe's death was that he: - Answer
died while in hiding from his creditors
In 1970, Andrew Carnegie wrote an influential article in the New York Times arguing "there is
one and only one social responsibility of business - to increase its profits without deception or
fraud." - Answer False (Freidman)
Which of the following would Milton Friedman be most likely to disagree with? - Answer Big
corporations are responsible for the large wealth disparity, and managers should thus use the
excess profits to mediate disparity
Answers.
Carnegie argues that the law of equity and inclusion is to what we owe our wonderful material
development, which brings improved conditions in its train - Answer False (law of
competition)
Carnegie describes the historical mode of manufacture as producing: - Answer crude articles
at high prices
According to Thoreau, which of the following is the choicest of relics? - Answer Books
Which of the following is a phrase from Thoreau? - Answer "The works of the great poets
have never been read by mankind for only great poets can read them"
In Smith's Wealth of Nations, he makes the argument that given equal profits between domestic
and foreign trade, a merchant is likely to put his greatest support into developing the foreign
market. - Answer False
Alexander Hamilton said: "the quick-sighted guidance of private interest, will, if left to itself,
infallibly find its own way to the most profitable employment; and it is by such employment that
the public prosperity will be most effectually promoted." This statement aligns most closely
with the author of course reading? - Answer Adam Smith
Pacioli would agree that every merchant's main purpose is to arrange all business transactions
in such a systematic way that one may understand each one of them at glance - Answer
False (main purpose is to make profit)
In Atlas Shrugged, Ayn Rand writes that money is a living power that dies without its root, and
that money will not serve the mind that cannot match it. Which other author of a course
reading express similar thoughts? - Answer Andrew Carnegie
Which of the following writers suggested that money is symbolic of society's moral values? -
Answer Rand
During class, Professor Hendricks highlighted a distribution from a research study that showed
abnormal distribution as it pertains to the reported amount of company profits. What
statement best describes the abnormality that was shown in the distribution? - Answer
There are too many firms that report profits just above 0
, When coaching at Rutgers, 21-year old Jim Valvano told his student-athletes before their first
game that they would be successful if they "focus on three things, and three things only." Which
of the following is on his list? - Answer Family, religon, green bay packers
During lecture, Professor Hendricks highlighted a recent report from the United Nations that
indicated there are fifty million people stuck in modern slavery, a significant increase from the
last reported number. - Answer True
Professor Hendricks watches too much sports on TV. What sport was highlighted in the clip that
he showed during one lecture? - Answer Tennis
During lecture, Professor Hendricks highlighted his research from a Harvard Business Review
article that showed solo founders are able to perform as well as co-founded ventures, even
though the solo founder is operating the firm without the help of any other individuals - Answer
False (solo founder has help from other individuals)
According to Plato, creativity is the mother of invention, capable of giving rise to a new state. -
Answer False (necessity)
Plato writes, "The natural advantages which one country has over another, in producing
particular commodities, are sometimes so great, that it is acknowledged by all the world to be
in vain to struggle with them." - Answer False (Adam Smith)
In The Souls of Black Folk, W.E.B. Du Bois writes, "The keynote of the Black Belt is debt." What
does he describe this debt to be? - Answer The continued inability for the population to have
their income cover their expenses
Daniel Defoe is believes that there is a connection between the exactness of a tradeperson's
bookkeeping and the tradeperson's prosperity. - Answer True
During lecture, we highlighted that an ironic component of Defoe's death was that he: - Answer
died while in hiding from his creditors
In 1970, Andrew Carnegie wrote an influential article in the New York Times arguing "there is
one and only one social responsibility of business - to increase its profits without deception or
fraud." - Answer False (Freidman)
Which of the following would Milton Friedman be most likely to disagree with? - Answer Big
corporations are responsible for the large wealth disparity, and managers should thus use the
excess profits to mediate disparity
