{"id":52965,"date":"2022-04-16T06:48:17","date_gmt":"2022-04-16T06:48:17","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/bus-309-week-5-chapter-4-and-5-quiz\/"},"modified":"2022-04-16T06:48:17","modified_gmt":"2022-04-16T06:48:17","slug":"bus-309-week-5-chapter-4-and-5-quiz","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/bus-309-week-5-chapter-4-and-5-quiz\/","title":{"rendered":"Bus 309 week 5 chapter 4 and 5 quiz"},"content":{"rendered":"<div>\n<p>ACC 309 WEEK 5 CHAPTER 4 AND 5 QUIZ<\/p>\n<p>Question 1 <br \/>Rather than strong work ethic, a common attitude is:<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Me-first <br \/>c. I like it easy<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Happy days are here to stay <br \/>d. Let the boss sweat it<br \/>Question 2 <br \/>The profit motive<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 is a fundamental feature of all societies.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 is no longer a key feature of capitalism.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 must be checked by competition if society is to benefit.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 is basically immoral.<br \/>Question 3 <br \/>How many Americans believe that \u201cif you work hard enough, you&#8217;ll make it?\u201d<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 One out of two.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 One out of three.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 One out of four.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 One out of five.<br \/>Question 4 <br \/>An assessment of work in America is<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 American manufacturing is growing faster than ever.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 American corporations ignore short-term performance.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 manufacturing still employs more people than government.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 many manufacturing companies have become &#8220;hollow&#8221; or &#8220;weightless&#8221;.<br \/>Question 5 <br \/>A basic premise of Adam Smith&#8217;s invisible hand argument is<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 human beings try to avoid acquisitive behavior.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 when people are left to pursue their own economic interests, disaster looms.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 the division of labor, though good for the firm, reduces overall efficiency.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 We often get what we want from others by offering something they need from us.<br \/>Question 6 <br \/>The Fugger dynasty was an example of<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 industrial capitalism.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 financial capitalism.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 mercantile capitalism.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 globalized capitalism.<br \/>Question 7 <br \/>Which statement best describes capitalism?<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Capitalism is an economic system in which the means of production and distribution is in state hands.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Capitalism is an economic system that operates under the profit motive.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Capitalism is an economic system that dispenses with competition.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Capitalism is an economic system where the profits generated belong to the state as a whole.<br \/>Question 8 <br \/>Karl Marx believed that<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 capitalist workers suffer from alienation.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 capitalism no longer exploits workers.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 industrialization does away with alienation.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 workers are alienated from their products, but not from themselves or other people.<br \/>Question 9 <br \/>A basic tenet of capitalism is that<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 property refers only to physical objects.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 ownership is a simple relationship between a person and the thing owned.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 capitalism requires private ownership of the major means of production.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 in the 21st century, capitalism no longer requires capital.<br \/>Question 10 <br \/>One of the key features of capitalism is<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 favoritism.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 cooperation.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 inequality.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 competition.<br \/>Question 11 <br \/>Marxism states<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 capitalism leads to a concentration of property and thus a concentration of resources and power in relatively few hands.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 socialism will eventually be replaced by financial capitalism.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 the means of production should be placed under the control of the bourgeoisie.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 only workers who are poorly paid in a capitalist system are alienated.<br \/>Question 12 <br \/>Which statement accurately describes capitalism?<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Industrial capitalism is characterized by pools, trusts, holding companies and an interpenetration of banking, insurance and industrial interests.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Mercantile capitalism emerged in the United States in the period directly following the civil war.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 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.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Financial capitalism developed in the period immediately prior to the Renaissance.<br \/>Question 13 <br \/>According to one survey of cultural values<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Americans value work more than Japanese do.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 for Americans, only good health is more important than work.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Americans typically value things like their children&#8217;s education and a satisfactory love life more than work.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Americans place no value on work, only on money.<br \/>Question 14 <br \/>Which of the following historical stages of capitalism came first?<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 financial<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 mercantile<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 industrial<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 state welfare<br \/>Question 15 <br \/>Many economists are concerned that the growing trade deficit makes the U.S. vulnerable to<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 terrorist attacks.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 ease.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 depression.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 economic extortion.<br \/>Question 16 <br \/>Kenneth Arrow discussed two important situations in which profit maximization can be socially inefficient. One of these occurs when<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 there is an imbalance of knowledge between buyer and seller.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 business would be an &#8220;inept custodian&#8221; of public values.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 firms are unwilling or simply refuse to maximize profits.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 corporate culture promotes dysfunctional social relations.<br \/>Question 17 <br \/>Momentum for the corporate organization of business really gained momentum after which war?<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Revolutionary War<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Civil War<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 French and Indian War<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 World War I<br \/>Question 18 <br \/>Which of the following is one of the three arguments in favor of narrow corporate social responsibility discussed in Chapter 5?<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 business-can-handle-it<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 society-lacks-the-expertise<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 let-government-do-it<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 visible-hand<br \/>Question 19 <br \/>One of the three important &#8220;limits to what the law can do&#8221; discussed by Christopher Stone is<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 laws are passed before there is any real problem to worry about.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 consumers don&#8217;t want further legal regulation.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 designing effective regulations is difficult.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 regulators are often &#8220;bought off&#8221; by corporations.<br \/>Question 20 <br \/>Which of the following contributed to the more relaxed incorporation procedures of modern times?<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 The idea that incorporation is a by-product of the people&#8217;s right to associate, not a gift from the state.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 The move from mercantilist thinking to a belief in Benjamin Franklin&#8217;s invisible hand.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 The idea that incorporation is a gift from the state.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 The thought that laissez-faire is a losing proposition..<br \/>Question 21 <br \/>The idea that corporations are moral agents<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 is accepted by many people and companies without hesitation.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 has not been accepted by the courts.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 has not been accepted by any major corporation.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 is supported by the fiduciary relationship between management and shareholders.<br \/>Question 22 <br \/>Which of the following do advocates of the broader view of corporate social responsibility believe?<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Corporations should not internalize their externalities.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Moral responsibility arises from social power.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Corporations have moral obligations to consumers, to employees, to suppliers and contractors, to the surrounding community, and to society at large.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 The moral contract between business and society has changed since the 19th century.<br \/>Question 23 <br \/>Milton Snoeyenbos argues that<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 settled economic life requires purely selfish behavior.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 with ethical codes, there&#8217;s no need for taxes, laws, or regulations as a way of controlling corporate behavior.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 Corporate moral codes can make it more reasonable to expect employees to behave ethically.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 to be viable, ethical codes need not be widely accepted or part of corporate culture.<br \/>Question 24 <br \/>Milton Friedman argues that<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 corporations today should adopt a broader view of their social responsibilities than they have in the past.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 corporate officials have a social responsibility that goes beyond serving the interests of their stockholders.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 strict governmental controls are necessary if society is to maximize its overall economic well-being.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 a business&#8217;s only social responsibility is to maximize profits within the rules of the game.<br \/>Question 25 <br \/>The \u201crules of the game\u201d for corporate work are intended to<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 let the games begin.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 destroy the competition.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 promote open and free competition.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 make business fun.<br \/>Question 26 <br \/>The statement that accurately describes corporations is<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 corporate shareholders have limited liability for their debts.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 corporations must be &#8220;publicly held&#8221; and thus traded on the stock market.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 corporations are always for-profit.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 corporate shareholders are immediately entitled to any profits.<br \/>Question 27 <br \/>In the corporate world, the board of directors will typically<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 rubber stamp the policies and recommendations of the management.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 write the policies and procedures.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 be there just for show.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 hire and fire people for key management positions.<br \/>Question 28 <br \/>A common point of contention about corporations is<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 corporate punishment is no different from individual punishment.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 modern corporations no longer utilize a CID structure.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 philosophers and business theorists disagree whether corporations are moral agents.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 if corporations are moral agents, then this relieves individual human beings of any moral responsibility.<br \/>Question 29 <br \/>Melvin Anshen suggests that there is a relationship between business and society which he termed as<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 \u201cshare the wealth.\u201d<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 \u201cthe rich get richer and the poor get poorer.\u201d<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 \u201csocial contract.\u201d<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 \u201cone for all and all for one.\u201d<br \/>Question 30 <br \/>Corporations differ from partnerships and other forms of business association in two ways. One of these is that<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 they are regulated by the Federal Trade Commission.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 they are formed simply by an agreement entered into among their members.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 they must be publicly registered or in some way officially acknowledged by the law.<br \/>\u00a0<br \/>\u00a0\u00a0\u00a0 their shareholders are entitled to their share of the company&#8217;s profits as soon as they are ascertained or determined.<\/p>\n<p>NOTE: IF SOME OF YOUR QUESTION NOT AMONG PLEASE CONTACT ME I WILL PROVIDE THE ANSWER<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>ACC 309 WEEK 5 CHAPTER 4 AND 5 QUIZ Question 1 Rather than strong work ethic, a common attitude is:\u00a0\u00a0\u00a0\u00a0 Me-first c. I like it easy\u00a0\u00a0\u00a0\u00a0 Happy days are here to stay d. Let the boss sweat itQuestion 2 The profit motive\u00a0\u00a0\u00a0\u00a0 is a fundamental feature of all societies.\u00a0\u00a0\u00a0\u00a0 is no longer a key feature [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-52965","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/52965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=52965"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/52965\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=52965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=52965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=52965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}