Moral Issues in Business 12th Edition by William H. Shaw -Test Bank

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Sample Test

Chapter 3—Justice and Economic Distribution

MULTIPLE CHOICE

1. Talk of justice and injustice appeals to the related notions of

a.	fairness, equality, desert	c.	feeling, sentiment, happiness
b.	reason, reflection, deliberation	d.	fairness, impartiality, duty

ANS: A PTS: 1 REF: p. 107

2. Aristotle’s formal principle of justice states,

a.	from each according to his or her ability, to each according to his or her need.
b.	similar cases must be treated alike except where there is some relevant difference.
c.	all people are to be treated the same in every situation.
d.	from each according to his or her ability, to each according to his or her merit.

ANS: B PTS: 1 REF: p. 107

3. According to Mill’s utilitarianism,

a.	rights are certain moral rules whose observance is of the utmost importance for the long-run, overall maximization of happiness.
b.	there are no rights.
c.	the rights possessed by human beings remain unchanged for all times and places.
d.	rights are those rules that a majority of the society would agree to behind the “veil of ignorance.”

ANS: A PTS: 1 REF: p. 110

4. According to libertarianism,

a.	there are no natural, Lockean rights.
b.	we have a basic right to assistance from others.
c.	it would be unjust to coerce people to give food or money to the starving.
d.	happiness takes priority over other moral concerns.

ANS: C PTS: 1 REF: p. 113

5. According to John Rawls, people in “the original position” choose the principles of justice on the basis of

a.	social utility.
b.	their religion.
c.	self-interest.
d.	their intuitive knowledge of the natural rights of all human beings.

ANS: C PTS: 1 REF: p. 120-121

6. From John Stuart Mill’s viewpoint,

a.	philosophical concern with justice began in the 19th century.
b.	questions of morality form a subset of questions of justice.
c.	for utilitarians, justice is a moral standard independent of the principle of utility.
d.	not every issue of social utility was a matter of justice.

ANS: D PTS: 1 REF: p. 110

7. Mill justified utilitarianism from rival perspectives when he argued

a.	that without utilitarianism to provide a determinate standard of justice, one is always left with a plethora of competing principles of justice, all of which seem to have plausibility but are mutually incompatible.
b.	that social utility is irrelevant to issues of justice.
c.	against worker participation.
d.	that only utilitarianism itself, as a normative theory, can provide an answer to the question: What economic system will bring more good to society than any other system?

ANS: A PTS: 1 REF: p. 110-111

8. In Anarchy, State and Utopia, Robert Nozick advocates

Libertarianism.

Kantianism.

Utilitarianism.

Egoism.

ANS: A PTS: 1 REF: p. 113

9. If libertarianism is true, which of these statements is true?

a.	We should endorse utilitarianism’s concern for total social well-being.
b.	Pleasure takes priority over any other moral concern.
c.	We should have a “night-watchman” state.
d.	If a person comes into possession of a holding through a legitimate transfer, then, morally speaking, she or he deserves that holding.

ANS: C PTS: 1 REF: p. 113

10. According to Locke,

a.	individuals are morally entitled to take other people’s property.
b.	property is a moral right.
c.	individuals are not morally entitled to the products of their labor.
d.	property acquisition is a duty.

ANS: B PTS: 1 REF: p. 114

11. According to John Rawls,

a.	people in the original position choose the principles on the basis of self-interest.
b.	in the original position, people must have full and complete knowledge.
c.	justice forbids any social or economic inequalities.
d.	liberty is of little or no importance compared to equality.

ANS: A PTS: 1 REF: p. 120

12. The veil of ignorance proposes that

a.	those in the original position are supposed to choose principles on the basis of self-interest, agreement seems unlikely.
b.	one group would be supportive of another group benefiting even though the rules are different.
c.	people are fully knowledgeable about themselves or situation allowing them to have a partial or biased point of view.
d.	agreement is difficult to attain.

ANS: A PTS: 1 REF: p. 121

13. The veil of ignorance assures us that people in the original position will be

a.	difficult to come to agreement.	c.	biased.
b.	impartial.	d.	forgiving.

ANS: B PTS: 1 REF: p. 121

14. Primary social goods include

a.	poverty.	c.	status.
b.	freedom of religion.	d.	leisure time activities.

ANS: C PTS: 1 REF: p. 121-122

15. John Rawls’ Theory of Justice lays within which type of tradition?

a.	All for one and one for all.	c.	Feudal society.
b.	Principled living.	d.	Social contract.

ANS: D PTS: 1 REF: p. 120

16. The difference principle of Rawls states

a.	we are all created equal.
b.	inequalities are only justified if they benefit the least advantaged.
c.	we all deserve the same.
d.	some do deserve more than others.

ANS: B PTS: 1 REF: p. 123

17. In association with labor and capital, Mill had contrasting views of

a.	freedom of speech.	c.	welfare.
b.	farmers’ markets profit.	d.	profit sharing.

ANS: D PTS: 1 REF: p. 111-112

18. Who is more likely to be sympathetic with the idea of reducing the disparities of income in society?

Utilitarians

Libertarians

Robert Nozick

Milton Friedman

ANS: A PTS: 1 REF: p. 112-113

19. The first principle of Nozick’s entitlement theory concerns the original acquisition of

a.	morals.	c.	case law.
b.	goods, money, and property.	d.	the crown.

ANS: B PTS: 1 REF: p. 114

20. In Nozick’s example of Wilt Chamberlain, he argues that other theories of economic justice inevitably fail to respect people’s

liberty.

power of choice.

skills.

height.

ANS: A PTS: 1 REF: p. 115-116

21. To the libertarians, their concept of liberty includes a commitment to

hedonism.

charity.

private property.

happiness.

ANS: C PTS: 1 REF: p. 116

22. Rawls rejects utilitarianism because

a.	he saw it as a threat.
b.	it might permit an unfair distribution of burdens and benefits.
c.	governments wanted it.
d.	it values moral purity.

ANS: B PTS: 1 REF: p. 125-126

23. Eminent domain is the ancient right of government to take what from an individual?

food

clothing

liberties

property

ANS: D PTS: 1 REF: Case 3.1

24. The Supreme Court gave decision making power for Eminent domain to the

a.	feds.	c.	townships.
b.	states and local communities	d.	parents.

ANS: B PTS: 1 REF: Case 3.1

25. What philosopher believes the maximin rule is relevant to justice?

John Rawls

John Stuart Mill

Robert Nozick

Aristotle

ANS: A PTS: 1 REF: p. 122

TRUE/FALSE

1. According to Robert Nozick, the basic moral rights possessed by all human beings are both negative and natural.

ANS: T PTS: 1 REF: p. 114

2. Libertarians reject inheritance as a legitimate means of acquiring wealth.

ANS: F PTS: 1 REF: p. 117-118

3. Utilitarians are likely to be sympathetic to the argument that steps should be taken to reduce the great disparities of income that characterize our society.

ANS: T PTS: 1 REF: p. 112-113

4. The phrase “the declining marginal utility of money” means that successive additions to one’s income produce, on average, less happiness or welfare than did earlier additions.

ANS: T PTS: 1 REF: p. 112

5. Robert Nozick uses the Wilt Chamberlain story to show the importance of economic re-distribution.

ANS: F PTS: 1 REF: p. 115-116

6. Rawls’s theory of distributive justice is a form of utilitarianism.

ANS: F PTS: 1 REF: p. 125-126

7. According to Robert Nozick, property rights exist prior to any social arrangements and are morally antecedent to any legislative decisions that a society might make.

ANS: T PTS: 1 REF: p. 114-115

8. The United States leads the world in executive pay.

ANS: T PTS: 1 REF: p. 105

9. According to John Rawls, people in the original position do not know what social position or status they hold in society.

ANS: T PTS: 1 REF: p. 121

10. According to the “maximin” rule, you should select the alternative under which the worst that could happen to you is better than the worst that could happen to you under any other alternative.

ANS: T PTS: 1 REF: p. 122

11. Thanks to changes in the tax system, in recent years income in the United States has become more equal.

ANS: F PTS: 1 REF: p. 104

12. The distribution of income in Germany and Japan is far more unequal than that in the United States.

ANS: F PTS: 1 REF: p. 106

13. Many philosophers believe (as Aristotle did) that we are required, as a formal principle of justice, to treat similar cases alike except where there is some relevant difference.

ANS: T PTS: 1 REF: p. 107

14. Justice is frequently held to require that our treatment of people reflect their fundamental moral equality.

ANS: T PTS: 1 REF: p. 107

15. Distributive justice concerns the morally proper distribution of social benefits and burdens.

ANS: T PTS: 1 REF: p. 108

16. For utilitarians, justice is an independent moral standard distinct from their general principle.

ANS: F PTS: 1 REF: p. 110

17. According to “Battling Over Bottled Water,” water is the lifeblood of the earth.

ANS: T PTS: 1 REF: p. 130

18. According to Mill, to say that I have a right to something is to say that I have a valid claim on society to protect me in the possession of that thing, either by force of law or through education and opinion.

ANS: T PTS: 1 REF: p. 109

19. In his Principles of Political Economy, J.S. Mill argued for the desirability of breaking down the sharp and hostile division between the producers or workers, on the one hand, and the capitalists or owners, on the other hand.

ANS: T PTS: 1 REF: p. 111

20. According to libertarianism, liberty is the prime value, and justice consists in being free from the interference of others.

ANS: T PTS: 1 REF: p. 113

21. It is clear that women in the United States have no problem living the American Dream.

ANS: F PTS: 1 REF: p. 133

22. Libertarianism involves a commitment to leaving market relations – buying, selling, and other exchanges – totally unrestricted.

ANS: T PTS: 1 REF: p. 116-117

23. Libertarians would find it immoral and unjust to coerce people to give food or money to the starving.

ANS: T PTS: 1 REF: p. 115-116

24. John Rawls’s second principle of justice states that insofar as inequalities are permitted — that is, insofar as it is compatible with justice for some jobs or positions to bring greater rewards than others — these positions must be open to all.

ANS: T PTS: 1 REF: p. 123

25. D.W. Haslett argues that inheritance is inconsistent with capitalism.

ANS: T PTS: 1 REF: p. 142

SHORT ANSWER

1. Talk of justice and injustice typically focuses on four related moral ideas. Explain what two of them are.

ANS:

See referenced page.

PTS: 1 REF: p. 107

2. According to John Stuart Mill, what does it mean to say that a person has a right to something?

ANS:

See referenced page.

PTS: 1 REF: p. 109

3. What do economists mean by “the declining marginal utility of money” and how does Brandt use the concept to argue for greater economic equality?

ANS:

See referenced page.

PTS: 1 REF: p. 112

4. Briefly explain the basic principles of Nozick’s entitlement theory.

ANS:

See referenced pages.

PTS: 1 REF: p. 114-115

5. According to Mill, if the market is left without regulation, will it eventually reward those that deserve it?

ANS:

See referenced page.

PTS: 1 REF: p. 117

6. What does Rawls mean by the original position and the veil of ignorance?

ANS:

See referenced pages.

PTS: 1 REF: p. 120-121

7. What is the “maximin” rule for making decisions and what role does it play in Rawls’s argument?

ANS:

See referenced page.

PTS: 1 REF: p. 122

8. John Isbister in “Income Distribution” argues that pay differentials are necessary to acknowledge capability, work and talent differences. What’s a strong objection to his belief?

ANS:

See referenced pages.

PTS: 1 REF: Reading 3.1

9. Define “Lockean rights” in your own words.

ANS:

See referenced page.

PTS: 1 REF: p. 114

10. Explain the relationship between justice and fairness.

ANS:

See referenced page.

PTS: 1 REF: p. 107

ESSAY

1. Compare and contrast how Mill and Nozick would explain why stealing is wrong.

ANS:

See referenced pages.

PTS: 1 REF: p. 109-119

2. Would Nozick’s theory of justice find the poverty in America to be just or unjust?

ANS:

See referenced pages.

PTS: 1 REF: p. 113-119

3. Is Bill Gates’s accumulation of wealth just or unjust, according to John Stuart Mill’s theory of justice?

ANS:

See referenced pages.

PTS: 1 REF: p. 109-113

4. How would Rawls view an inheritance from a family member?

ANS:

See referenced pages.

PTS: 1 REF: p. 119-127

5. Can wealth legitimately be spread equally among the people of a nation according to any theory of justice we have discussed?

ANS:

See referenced pages.

PTS: 1 REF: Chapter 3

Chapter 4—The Nature of Capitalism

MULTIPLE CHOICE

1. Which of the following historical stages of capitalism came first?

financial

mercantile

industrial

state welfare

ANS: B PTS: 1 REF: p. 152

2. The profit motive

a.	is a fundamental feature of all societies.
b.	is no longer a key feature of capitalism.
c.	must be checked by competition if society is to benefit.
d.	is basically immoral.

ANS: C PTS: 1 REF: p. 154

3. A basic tenet of capitalism is that

a.	property refers only to physical objects.
b.	ownership is a simple relationship between a person and the thing owned.
c.	capitalism requires private ownership of the major means of production.
d.	in the 21st century, capitalism no longer requires capital.

ANS: C PTS: 1 REF: p. 155-156

4. The concept of the “invisible hand” means

a.	pursuit of private gain will bring the best overall results.
b.	although it can’t be seen, the hand of government controls the economy.
c.	feudalism inevitably gives rise to capitalism.
d.	externalities must be internalized.

ANS: A PTS: 1 REF: p. 157

5. A basic premise of Adam Smith’s invisible hand argument is

a.	human beings try to avoid acquisitive behavior.
b.	when people are left to pursue their own economic interests, disaster looms.
c.	the division of labor, though good for the firm, reduces overall efficiency.
d.	We often get what we want from others by offering something they need from us.

ANS: D PTS: 1 REF: p. 157

6. One of the key features of capitalism is

favoritism.

cooperation.

inequality.

competition.

ANS: D PTS: 1 REF: p. 154

7. Some critics of capitalism believe that it rests on a flawed view of human beings because

a.	capitalism produces equality.
b.	capitalism eliminates poverty.
c.	capitalism assumes that well-being comes from greater material consumption.
d.	capitalism offers a higher sense of purpose.

ANS: C PTS: 1 REF: p. 161

8. One reason for believing that in practice capitalism fails to live up to its own ideal of competition is

a.	we have government subsidies and protective tariffs.
b.	monopolies control almost all areas of economic life.
c.	so many small companies go bankrupt.
d.	the outsourcing of jobs.

ANS: A PTS: 1 REF: p. 162-164

9. Karl Marx believed that

a.	capitalist workers suffer from alienation.
b.	capitalism no longer exploits workers.
c.	industrialization does away with alienation.
d.	workers are alienated from their products, but not from themselves or other people.

ANS: A PTS: 1 REF: p. 165-166

10. An assessment of work in America is

a.	American manufacturing is growing faster than ever.
b.	American corporations ignore short-term performance.
c.	manufacturing still employs more people than government.
d.	many manufacturing companies have become “hollow” or “weightless”.

ANS: D PTS: 1 REF: p. 168

11. An exclusive focus on short-term performance

a.	is the best guarantee of a company’s long-term performance.
b.	has helped to create a high-pressure environment conducive to fraud.
c.	encourages long-term research and development.
d.	hurts stock prices.

ANS: B PTS: 1 REF: p. 170

12. Evidence for the idea that American manufacturing is declining is

a.	the fact that government now employs more people than manufacturing.
b.	a reluctance to outsource.
c.	fewer “hollow” corporations.
d.	a shrinking trade deficit.

ANS: A PTS: 1 REF: p. 167-168

13. According to one survey of cultural values

a.	Americans value work more than Japanese do.
b.	for Americans, only good health is more important than work.
c.	Americans typically value things like their children’s education and a satisfactory love life more than work.
d.	Americans place no value on work, only on money.

ANS: C PTS: 1 REF: p. 171

14. Which statement best describes capitalism?

a.	Capitalism is an economic system in which the means of production and distribution is in state hands.
b.	Capitalism is an economic system that operates under the profit motive.
c.	Capitalism is an economic system that dispenses with competition.
d.	Capitalism is an economic system where the profits generated belong to the state as a whole.

ANS: B PTS: 1 REF: p. 154

15. Which of the following is an accurate statement?

a.	Adam Smith defends capitalism by appealing to the idea of a natural, moral right to property.
b.	Adam Smith denies that human beings are, by nature, acquisitive creatures.
c.	A common defense of capitalism is the argument that people have a fundamental moral right to property and that our capitalist system is simply the outcome of this natural right.
d.	Utilitarians oppose capitalism in principle.

ANS: C PTS: 1 REF: p. 156

16. Marxism states

a.	capitalism leads to a concentration of property and thus a concentration of resources and power in relatively few hands.
b.	socialism will eventually be replaced by financial capitalism.
c.	the means of production should be placed under the control of the bourgeoisie.
d.	only workers who are poorly paid in a capitalist system are alienated.

ANS: A PTS: 1 REF: p. 161

17. Which of the following accurately reflects the concept of Marxism?

a.	It is only within a capitalist economic system that workers are not alienated from the products of their labor.
b.	Only workers who are poorly paid for their labor are alienated.
c.	Within a capitalist economic system, the activity of labor is an end in itself and, as a result, has intrinsic value.
d.	Labor is alienated in a capitalist economic system (in part) because the labor of a worker stands opposed to the worker as an autonomous power.

ANS: D PTS: 1 REF: p. 165

18. Which statement accurately describes capitalism?

a.	Industrial capitalism is characterized by pools, trusts, holding companies and an interpenetration of banking, insurance and industrial interests.
b.	Mercantile capitalism emerged in the United States in the period directly following the civil war.
c.	In state welfare capitalism the government plays an active role in regulating economic activities in an effort to smooth out the boom-and-bust pattern of the business cycle.
d.	Financial capitalism developed in the period immediately prior to the Renaissance.

ANS: C PTS: 1 REF: p. 153

19. For employees who are paid handsomely for their efforts, Marx said their work would ultimately prove to be

a.	profitable to them.	c.	meaningless to them.
b.	expensive to them.	d.	tireless.

ANS: C PTS: 1 REF: p. 165

20. For the first time since the Industrial Revolution, less than ____ percent of the American workforce was employed by manufacturing.

ANS: A PTS: 1 REF: p. 168

21. Though many jobs are outsourced, most economists believe

a.	Mexico is the place to work.
b.	the United States is in trouble.
c.	the economy will create new jobs in the USA.
d.	manufacturing will make a comeback.

ANS: C PTS: 1 REF: p. 168

22. Many economists are concerned that the growing trade deficit makes the U.S. vulnerable to

a.	terrorist attacks.	c.	ease.
b.	depression.	d.	economic extortion.

ANS: D PTS: 1 REF: p. 169-170

23. Rather than strong work ethic, a common attitude is:

a.	Me-first	c.	I like it easy
b.	Happy days are here to stay	d.	Let the boss sweat it

ANS: A PTS: 1 REF: p. 171

24. How many Americans believe that “if you work hard enough, you’ll make it?”

One out of two.

One out of three.

One out of four.

One out of five.

ANS: B PTS: 1 REF: p. 171

25. The Fugger dynasty was an example of

a.	industrial capitalism.	c.	financial capitalism.
b.	mercantile capitalism.	d.	globalized capitalism.

ANS: B PTS: 1 REF: p. 151

TRUE/FALSE

1. Worker control socialism is a hybrid economic system with no marketplace and no profits.

ANS: F PTS: 1 REF: p. 151

2. Utilitarians reject the very idea of a natural right to property.

ANS: T PTS: 1 REF: p. 156

3. If it’s true that individuals have a natural right to own property, then there can be no limits on this right.

ANS: F PTS: 1 REF: p. 156-157

4. Some critics believe that “competition is not a good” because trying to do well and trying to beat others are two different things.

ANS: F PTS: 1 REF: p. 164-165

5. Adam Smith claims that the people seeking self-interest in a free market through competition can benefit society as a whole.

ANS: T PTS: 1 REF: p. 157

6. Capitalism is possible without private property.

ANS: F PTS: 1 REF: p. 155

7. According to Marx, when workers are alienated they are not truly free.

ANS: T PTS: 1 REF: p. 166

8. None of the specific measures proposed by Marx and Engels in the Communist Manifesto have been implemented in capitalist countries.

ANS: F PTS: 1 REF: p. 165

9. Companies that in years past were identified with making goods of all sorts now are likely to produce only the package and the label.

ANS: T PTS: 1 REF: p. 168

10. Capital is that money that is invested for the purpose of making more money.

ANS: T PTS: 1 REF: p. 155

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