PHIL 1273 FINAL EXAM QUESTIONS ANSWERED CORRECTLY LATEST UPDATE

PHIL 1273 FINAL EXAM QUESTIONS ANSWERED CORRECTLY LATEST UPDATE According to Freeman, the central question when thinking about the obligations of firms is for whose benefit and at what expense should the firm be managed? - Answers TRUE According to Freeman, the law already requires firm managers to take into account the claims of stockholders who do not have any ownership stake. - Answers TRUE Which of the following does Freeman NOT specifically mention as a stakeholder group? a. Suppliers b. Customers c. Employees d. None of the above - Answers NONE OF THE ABOVE According to Freeman, stakeholders theory requires that we strictly segregate the business roles of the firm from the ethical roles. - Answers FALSE According to Shaw, even open-minded people may operate on implicit assumptions that work to the disadvantage of women and minorities - Answers TRUE The median wealth of white households today is roughly how many times that of Hispanic or African-American households? a. 4 b. 6 c. 10 d. none of the above - Answers 10 Surveys have indicated that male managers frequently assume that women... a. Are too emotional to be good managers b. Lack the necessary drive to succeed in business c. Place family demands above work consideration d. All of the above - Answers d. all of the above According to Equal Employment Opportunity Commission guidelines, affirmative action programs involve... a. Quota systems for hiring to ensure minority representation in a firm b. Supportive in-house and community programs to combat discrimination c. Selective job standards for members of historically marginalized groups d. All of the above - Answers Supportive in-house and community programs to combat discrimination According to Bok and Duska, loyalty cannot require you to behave immorally. - Answers TRUE According to Duska, the kinds of relationships that loyalty requires are precisely the kinds of relationships that one finds in business. - Answers FALSE - he believes tat a firm is not a person, therefore does not require you to be loyal to it An agent is a person who acts in the interest of someone else (known as a principal) - Answers TRUE 12. According to Bok, whistleblowing involves... a. Dissent: exposing what is hidden against the will of your employer b. Accusation: the claim that your employer is hurting the public interest c. Breach of loyalty: a violation of a defeasible obligation to go along with team leaders d. All of the above - Answers ALL OF THE ABOVE Friedman's argument for shareholder primacy is based on... - Answers Libertarianism According to Friedman, managers should focus on stockholder interests because... - Answers As employees, that is what they have contracted to do In the context of employment-at-will... a. Employers must hire only employees who exhibit a good will (in Kant's sense) b. Employers may fire employees only with two weeks notice and severance pay c. Employees may quit their jobs only with two weeks notice to their employers d. None of the above - Answers none of the above According to Orlando, a manager's fiduciary responsibility to shareholders requires that the manager must always put shareholder interests ahead of employee interests. - Answers FALSE - only Friedman thinks tat, Orlando thinks that, Orlando thinks tat shareholder & employee interests should be treated equally. According to Orlando, most shareholders do not have a reasonable expectation of input into the firm's decision-making - Answers TRUE According to Hochshild, emotional labor is... - Answers when an employer requires employees to induce or suppress emotions as a part of the job According to Bok, employees have a defeasible (i.e. non-absolute) obligation to go along with