PHI 445 WEEK 3 QUIZ GRADED A VERIFIED

1. Question : If someone has a financial interest to act in a way that can interfere with the interest that same person may have due to his or her job or position, that is a: Student Answer: class conflict. conflict of interest. class impartiality. conflict of immiseration. Instructor Explanation: The answer can be found in Chapter 7, Financial Ethics, in Introduction to Business Ethics. Points Received: 1 of 1 Comments: Question 2. Question : One of the central reasons that a government contract may generate additional expenses is that: Student Answer: the government has an incentive to price gouge. most taxpayers support cost overruns. the government can always revert to the gold standard. the taxpayer is ultimately responsible for paying such expenses. Instructor Explanation: The answer can be found in Chapter 7, Financial Ethics, in Introduction to Business Ethics. Points Received: 1 of 1 Comments: Question 3. Question : A defender of the free market would minimize regulations dealing with corporate takeovers because: Student Answer: no corporations are worth taking over. insiders know better which companies should be taken over. takeovers are a standard part of how the market evaluates companies. the only kind of effective corporate takeovers always require fraud being committed. Instructor Explanation: The answer can be found in Chapter 7, Financial Ethics, in Introduction to Business Ethics. Points Received: 1 of 1 Comments: Question 4. Question : Because of political turmoil in the Mideast, some gas stations have raised their prices by 30%, even though there has been no change in the supply of petroleum. This could be viewed as: Student Answer: insider trading. price gouging. a violation of GAAP. a strategy recommended by the IFRS. Instructor Explanation: The answer can be found in Chapter 7, Financial Ethics, in Introduction to Business Ethics. Points Received: 1 of 1 Comments: Question 5. Question : When prices rise due to increased demand or decreased supply, this shows: Student Answer: that prices reflect the supply-demand relationship. anyone who sells anything is a thief. that usury laws are traditionally problematic for Christians. that consumers never have enough information for a rational decision. Instructor Explanation: The answer can be found in Chapter 7, Financial Ethics, in Introduction to Business Ethics. Points Received: 1 of 1 Comments: Question 6. Question : Sylvia works 12 hours a day, 6 days a week, is given 30 minutes for lunch, and two 10-minute bathroom breaks. If she takes more than 50 minutes off during these 12 hours, her pay is docked; if she complains. Sylvia works in a/an: Student Answer: limited liability corporation. efficient US corporation. sweatshop. wholly-owned subsidiary. Instructor Explanation: The answer can be found in Chapter 8, International Business and Multinationals, in Introduction to Business Ethics. Points Received: 1 of 1 Comments: Question 7. Question : Intellectual piracy has been estimated to cost American corporations, at a minimum: Student Answer: $100 billion. $100 million. $100 trillion. $100,000. Instructor Explanation: The answer can be found in Chapter 8, International Business and Multinationals, in Introduction to Business Ethics. Points Received: 1 of 1 Comments: Question 8. Question : Peggy works for a drug company that will be announcing in a month that its newest medicine failed in clinical trials. If Peggy sells all of her stock in this company before its price plummets on this news, she may be guilty of: Student Answer: rogue pricing. insider trading. price gouging. impartial trading. Instructor Explanation: The answer can be found in Chapter 7, Financial Ethics, in Introduction to Business Ethics. 9. Question : One objection to companies hiring undocumented immigrants is: Student Answer: such immigrants make no social security payments. such immigrants increase wages paid to everyone else. such immigrants often commit voter fraud. such immigrants depress wages paid to everyone else. Instructor Explanation: The answer can be found in Chapter 8, International Business and Multinationals, in Introduction to Business Ethics. Points Received: 1 of 1 Comments: Question 10. Question : Critics of multinational corporations that locate offices in other countries sometimes complain that such corporations: Student Answer: generate too many opportunities for the native population. exploit the native population and violate local traditions. force American managers to learn another language. distort market mechanisms and price signals. Instructor Explanation: The answer can be found in Chapter 8, International Business and Multinationals, in Introduction to Business Ethics.