UNC BUSI100 FINAL, BUSI 100 FINAL EXAM, BUSI 100
FINAL EXAM, BUSI 100 FINAL EXAM STUDY GUIDE
According to Thoreau, which of the following is the choicest of relics? - ANSWER
Books
According to Plato, creativity is the mother of invention, capable of giving rise to
a new state. - 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
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
Carnegie describes the historical mode of manufacture as producing: - ANSWER
crude articles at high prices
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
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
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
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
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
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
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
,Without ______________, Pacioli indicates that it is impossible for merchants "to
conduct their business, for they would have no rest and their minds would
always be troubled." - ANSWER Systematically arranging all transactions
Thoreau notes that most of his townsmen have learned to read, not only to keep
accounts and not be cheated in trade, but also as a noble intellectual exercise. -
ANSWER False
Friedman believed that it is appropriate for a publicly held corporation to reduce
the wages of its employees in order for it to invest in an activity of general social
interest. - ANSWER False
Under which of the following circumstances would Milton Friedman be most
likely to tolerate the manager of a publicly-owned corporation making a
charitable contribution using the corporation's money? - ANSWER The intent of
the contribution is to improve the corporation's image so that more people
desire to purchase the company's products and services
Which course reading provides the least support to this idea that business exists
to facilitate exchanges that are mutually beneficial between two parties? -
ANSWER Milton Friedman
Defoe indicates that if it is too tedious to keep books exactly, partial book-
keeping still provides many benefits to the merchant. - ANSWER False
Du Bois writes that that the Emancipation of the slaves was a factor in helping to
resolve the debt problem that plagued the Black Belt throughout the 19th
century. - ANSWER False
Which of the following phrases is from Thoreau? - ANSWER "The works of the
great poets have never yet been read by mankind, for only great poets can read
them"
Adam Smith would not likely agree with the idea expressed in this Milton
Friedman quote, "The hardest thing in the world to understand is that people
operating separately, through their joint relations with one another, through
market transactions, can achieve a greater degree of efficiency and of output
than can a single central planner." - ANSWER False
Adam Smith writes that "The general industry of the society can never exceed
_______." - ANSWER what the capital of the society can employ
Pacioli indicates that, "as we know", there are multiple things needed by any
one who wishes to carry on business carefully." Which item does he exclude? -
ANSWER A business partner, or co-founder
, Which author of one of our course readings is most likely to agree with Benjamin
Franklin's quote that "money has never made man happy, nor will it, there is
nothing in its nature to produce happiness. The more of it one has, the more one
wants." - ANSWER Ayn Rand
According to Rand, when men live by trade with force as the final judge, the best
product/performance will win. - ANSWER False
In considering the number of individuals to include in each team for this course,
Professor Hendricks brought attention to a rule popularized by Amazon that
refers to which item of food? - ANSWER Pizza
During class, we watched some video clips of Martin Shkreli, founder and ex-
CEO of Turing Pharmaceuticals. Shkreli's responses about why he raised the
price of the antiparasitic drug Daraprim most closely resemble the arguments
laid out by which author of one of our course readings? - ANSWER Milton
Friedman
In The Republic, Plato surmises that the number of physicians needed for a
society will decrease as it moves from its original state to a more luxurious one. -
ANSWER False
In Plato's The Republic, injustice arises naturally from political disagreement
and not from the interpersonal dealings of citizens. - ANSWER False
Du Bois argued that the keynote of the Black Belt is debt; in the sense that the
mass of the population earn incomes that exceed their expenses. - ANSWER
False
During lecture, Professor Hendricks noted that Martin Shkreli, founder and ex-
CEO of Turing Pharmaceuticals, was voted the most hated person in America for
several years in a row. - ANSWER True
Which of the following statements is Defoe least likely to agree with? - ANSWER
Financial forecasting acts as a substitute for exact bookkeeping
Which of the following statements is Defoe least likely to agree with? - ANSWER
At the end of each month, a tradesperson should make a record of every
transaction that occurred during the month
Milton Friedman is likely to agree with the statement that a virtue of private
competitive enterprise is that it forces people to be responsible for their own
actions and makes it difficult for them to exploit other people for either selfish or
unselfish purposes. - ANSWER True
FINAL EXAM, BUSI 100 FINAL EXAM STUDY GUIDE
According to Thoreau, which of the following is the choicest of relics? - ANSWER
Books
According to Plato, creativity is the mother of invention, capable of giving rise to
a new state. - 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
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
Carnegie describes the historical mode of manufacture as producing: - ANSWER
crude articles at high prices
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
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
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
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
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
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
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
,Without ______________, Pacioli indicates that it is impossible for merchants "to
conduct their business, for they would have no rest and their minds would
always be troubled." - ANSWER Systematically arranging all transactions
Thoreau notes that most of his townsmen have learned to read, not only to keep
accounts and not be cheated in trade, but also as a noble intellectual exercise. -
ANSWER False
Friedman believed that it is appropriate for a publicly held corporation to reduce
the wages of its employees in order for it to invest in an activity of general social
interest. - ANSWER False
Under which of the following circumstances would Milton Friedman be most
likely to tolerate the manager of a publicly-owned corporation making a
charitable contribution using the corporation's money? - ANSWER The intent of
the contribution is to improve the corporation's image so that more people
desire to purchase the company's products and services
Which course reading provides the least support to this idea that business exists
to facilitate exchanges that are mutually beneficial between two parties? -
ANSWER Milton Friedman
Defoe indicates that if it is too tedious to keep books exactly, partial book-
keeping still provides many benefits to the merchant. - ANSWER False
Du Bois writes that that the Emancipation of the slaves was a factor in helping to
resolve the debt problem that plagued the Black Belt throughout the 19th
century. - ANSWER False
Which of the following phrases is from Thoreau? - ANSWER "The works of the
great poets have never yet been read by mankind, for only great poets can read
them"
Adam Smith would not likely agree with the idea expressed in this Milton
Friedman quote, "The hardest thing in the world to understand is that people
operating separately, through their joint relations with one another, through
market transactions, can achieve a greater degree of efficiency and of output
than can a single central planner." - ANSWER False
Adam Smith writes that "The general industry of the society can never exceed
_______." - ANSWER what the capital of the society can employ
Pacioli indicates that, "as we know", there are multiple things needed by any
one who wishes to carry on business carefully." Which item does he exclude? -
ANSWER A business partner, or co-founder
, Which author of one of our course readings is most likely to agree with Benjamin
Franklin's quote that "money has never made man happy, nor will it, there is
nothing in its nature to produce happiness. The more of it one has, the more one
wants." - ANSWER Ayn Rand
According to Rand, when men live by trade with force as the final judge, the best
product/performance will win. - ANSWER False
In considering the number of individuals to include in each team for this course,
Professor Hendricks brought attention to a rule popularized by Amazon that
refers to which item of food? - ANSWER Pizza
During class, we watched some video clips of Martin Shkreli, founder and ex-
CEO of Turing Pharmaceuticals. Shkreli's responses about why he raised the
price of the antiparasitic drug Daraprim most closely resemble the arguments
laid out by which author of one of our course readings? - ANSWER Milton
Friedman
In The Republic, Plato surmises that the number of physicians needed for a
society will decrease as it moves from its original state to a more luxurious one. -
ANSWER False
In Plato's The Republic, injustice arises naturally from political disagreement
and not from the interpersonal dealings of citizens. - ANSWER False
Du Bois argued that the keynote of the Black Belt is debt; in the sense that the
mass of the population earn incomes that exceed their expenses. - ANSWER
False
During lecture, Professor Hendricks noted that Martin Shkreli, founder and ex-
CEO of Turing Pharmaceuticals, was voted the most hated person in America for
several years in a row. - ANSWER True
Which of the following statements is Defoe least likely to agree with? - ANSWER
Financial forecasting acts as a substitute for exact bookkeeping
Which of the following statements is Defoe least likely to agree with? - ANSWER
At the end of each month, a tradesperson should make a record of every
transaction that occurred during the month
Milton Friedman is likely to agree with the statement that a virtue of private
competitive enterprise is that it forces people to be responsible for their own
actions and makes it difficult for them to exploit other people for either selfish or
unselfish purposes. - ANSWER True
