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Principles of Macroeconomics (Ch. 8, 9 & 10)

Gross Domestic Product (GDP) is the market value of all final goods and services produced in a country during a period of time.
In the circular flow of expenditure and income, why must the total value of production in an economy equal the total value of income? Every penny spent on a good or service must end up as someone’s income.
Which equation best represents the relationship between GDP and the four major expenditure components? Y=C+I+G+NX
What are the four major components of expenditures in GDP? Consumption, Investment, Government Purchases, and Net Exports.
Final good, intermediate good, or neither? Coffee beans purchased by a coffee shop Intermediate good
One share of Google stock Neither
A new pick-up truck purchased by a consumer Final good
A new home purchased by a family Final good
Which of the following is included in the economists’s definition of investment? The purchase of new machines, factories, or houses.
In calculating GDP, which levels of government spending are included in government purchases? Spending by federal, state, and local governments.
You purchase a new Ford Escape Hybrid from a Ford dealer. Consumption Expenditure
You purchase a 2011 (preowned) Ford Escape Hybrid from a friend. Not included in GDP calculation
Ford purchases door handles for the Escape from an auto parts manufacturer in Indiana. Not included in GDP calculation
Ford produces 1,000 Escapes in a factory in Missouri and ships them to a car dealer in Shanghai, China. Net Export Expenditure
Ford purchases new machine tools to use in its Missouri Escape factory. Investment Expenditure
The state of Missouri builds a new highway to help improve access to the Ford Escape plant. Government Expenditure
Suppose a house is built and sold in the year 2006. If the house is resold in the year 2015, is the value of the house included in GDP for 2015? No. GDP for 2015 includes only production that occurs during 2015.
Would the services of a real estate agent who helped sell (or helped buy) the house be included in GDP for 2015? Yes. GDP for 2015 includes the market value of final goods and services. This includes real estate services.
According to Dan Sichel, the amount of time a singer spends working on a record album in a recording studio is “quite analogous to a factory investing in a new machine”. Which of the following statements is correct? Song development time produces songs, similar to investment in a factory that produces physical goods.
An underground economy involves all of the following except buying and selling of goods and services by obtaining a permit from the government.
Some countries have larger underground economies than do other countries, because of government policies that are retarding economic growth.
GDP is an imperfect measure of economic well-being because it fails to measure what types of production? Household production and the underground economy.
Even if GDP included these types of production, why would it still be an imperfect measure of economic well-being? The value of leisure is not included in GDP, GDP is not adjusted for pollution and it does not account for unequal income distribution, and GDP is not adjusted for crime or other social problems.
When the number of people working outside the home increased, the measured level of GDP Increases
When there is a sharp decrease in the crime rate, the measured level of GDP May increase or decrease
If higher tax rates cause more people to hide the income they earn, the measured GDP Decreases
What can we predict about total production-whether or not that production is included in the calculation of GDP-in the economy when workers become unemployed? If the workers had been paying other people to perform the household activities prior to unemployment, then total production will fall.
Nominal GDP is the sum of prices x quantity for that year.
Real GDP is the sum of quantity (in current year) x prices (in base year).
The annual growth rate of real GDP is calculated by Real GDP in current year – Real GDP in previous year / Real GDP in previous year x 100.
In an economy with rising prices, compared to the base year, nominal GDP is larger than real GDP in years after the base year.
The employment-population ratio measures the percentage of the working age population that is employed.
When an unemployed person drops out of the labor force, the unemployment rate understates the true degree of joblessness in the economy.
When an unemployed person drops out of the labor force, it does not affect the employment-population ratio.
Unemployment rate is number of unemployed/number of people in labor force x 100
Employment rate is number of employed/number of people in labor force x 100
The labor force participation rate is number of people in labor force/number of working-age population x 100
Find out the number of unemployed. (Employed=148,739; Unemployment rate=5.3%) Unemployed/(Employed+Unemployed) = X(148,739+X)=.053
Working-age population is calculated by Labor force/Labor force participation rate
Which of the following best describes a current trend in the labor force participation rate? It is decreasing for men and increasing for women.
The extent of job creation and job destruction is what we would expect in a vibrant market system.
The three types of unemployment are frictional, structural, and cyclical unemployment.
The type of unemployment most likely to result in hardship for the people who are unemployed is structural because this type of unemployment requires retraining to acquire new job skills.
The natural rate of unemployment is the sum of structural unemployment and frictional unemployment.
When the economy is at full employment, unemployment is equal to the natural rate of unemployment.
“In-between jobs” is what type of unemployment? Frictional
Increases in the minimum wage will increase unemployment among teenagers.
The unemployment rate in the United States is usually _____ than the unemployment rates in most other high-income countries partly because the United States has _____ requirements for the unemployed to receive government payments. lower; more stringent
The price index which is used to measure changed in the cost of living is the Consumer Price Index (CPI).
CPI is calculated by sum of current year quantity x price / sum of base year quantity x price multiplied by 100
Inflation rate is calculated by CPI current year – CPI last year / CPI last year x 100
The average of the prices of the goods and services purchased by a typical family is the Consumer Price Index (CPI).
Which of the following can give an early warning of future increases in the price level? Producer price index
How is the GDP deflator calculated? Nominal GDP/Real GDP x 100
In the years after the base year, nominal GDP is ______ than real GDP. greater
In the base year, nominal GDP is ______ to real GDP. equal to
In the years prior to the base year, nominal GDP is ______ than real GDP. less
The difference between a nominal variable and a real variable is that nominal variables are calculated in current-year prices and the real variables are measured in dollars of the base year for the price index to correct the effects of inflation.
Menu costs are the costs to firms of changing proves.
The internet has ______ the size of menu costs. reduced
The real interest rate is equal to the nominal interest rate minus the inflation rate.
When the real interest rate is lower then the situation will be better for the buyer.
The rule of 70 is a mathematical formula that is used to calculate the number of years it takes real GDP per capita or any other variable to double.
What two key factors determine labor productivity? The quantity of capital per hour worked and the level of technology.
Potential real GDP is the level of GDP attained when all firms are producing at capacity. (grows over time)
Human capital is the knowledge and skills workers acquire from education, training, or their life experiences. (ex. a worker gets a college degree)
The best measure of the standard of living of the typical person in a country is real GDP per person.
The financial system of a country is important for long-run economic growth because firms need the financial system to acquire funds from households.
_______ is not a “loanable fund” real estate
Households supply loanable funds because of the interest income received from the borrowers.
Businesses demand loanable funds because firms need to borrow funds for new projects, such as building new factories or carrying out new research projects.
Crowding out occurs when governments must borrow funds which causes interest rates to rise and thus private investment is reduced.
The ease with which a financial security can be exchanged for money is referred to as liquidity.
Even though individuals earn interest on financial investments such as bonds, mutual funds, and certificates of deposits, they may still hold wealth in checking accounts because individuals need money that is available to be spent on goods and services.
Ford F-150 trucks, McDonald’s Big Macs, Kenmore refrigerators, Huggies diapers, and Caterpillar industrial tractors. Production of this good is likely to fluctuate _________ fluctuations of real GDP during the business cycle more than; less than; more than; less than; more than
What is the general relationship between the business cycle and unemployment and inflation? During an expansion, unemployment falls and inflation increases.
During the expansion/recession phase of the business cycle, production, employment, and income increases; decreases.
When tax revenue exceeds, equals, is less than government spending there is a budget surplus; a balanced budget; a budget deficit.
As the economy nears the end of an expansion, wages are usually rising faster than prices, interest rates are usually rising, and the profits of firms will be falling.
Purchases of which types of goods are business cycles most likely to affect? Durable goods.
Recessions cause the inflation rate to _________, and the employment rate to ________. decrease; increase
The business cycle refers to alternating periods of economic expansion and economic recession.
Long-run economic growth is the process by which rising productivity increases the standard of living of the typical person.
Long-run growth is measured by increases in real GDP per capita, which depend on increases in labor productivity.
Labor productivity is the quantity of goods and services that can be produced by one worker or by one hour of work.
Capital refers to manufactured goods that are used to produce other goods and services.
Economists often discuss economic growth in terms of growth in potential GDP, which is the level of GDP attained when all firms are producing at capacity.
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Business management final chapter 3

Which of the following includes paternity leaves? Family and Medical Leave Act
To help managers and employees make ethical decisions and behave in ways that benefit their stakeholders, they can use four ethical rules or principles to analyze the effects of their business decisions on stakeholders, the: ________________ rules. utilitarian, moral rights, justice, and practical
If two male managers exchange a lewd sexual joke in the presence of a female manager, these male managers have exhibited: a hostile work environment
A manager who is effectively managing diversity in the disseminator role would: communicate to employees about diversity policies.
Which of the following results due to differences in personalities, values, and attitudes? individual ethics
Important issues concerning how and when payments are made or product quality and safety specifications are governed by the contracts a company signs with its: suppliers and distributors
Kenneth, the human resources manager at Dimensions Co., commits 20 percent of this year’s budget to develop a new program for bringing minority interns into the company. Which of the following roles is Kenneth performing? entrepreneur
The utilitarian rule states that an ethical decision: produces the greatest good for the greatest number of people.
Why is it so important that managers, and people in general, should act ethically and temper their pursuit of self-interest by considering the effects of their actions on others? Because giving excessive importance to oneself with no consideration of societal interests leads to disaster for each individual and for the whole society because scarce resources are destroyed.
When making an ethical decision, asking the questions “Would my family members and friends approve of this decision, and am I willing to see the decision communicated to all people and groups affected?” are part of the _________________ rule. practical
The people and groups that supply a company with its productive resources, and so, have a claim on and a stake in the company, are known as ______________. stakeholders
A top manager giving a speech to employees about the importance of diversity is acting as a(n): figurehead
The adage “Do unto others as you would have them do unto you” is a(n) ________________ principle. moral rights
Which of the following is a part of developing and clearly communicating a sexual harassment policy endorsed by top management? Develop a procedure for employees to use to report instances of harassment
Employees who are similar in their level of skill, performance, or responsibility should receive similar pay; allocation of outcomes should not be based on differences such as gender, race, or religion. This is an example of which rule of ethical decision making? Justice rule
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CH 12 BCOMM practice questions

The first step in developing research-based business reports is identifying what decision makers want to accomplish. True
The title should explain the primary point of the chart True
Leo wants to provide a comprehensive set of data to allow for more precise analysis. He should use a table, not a chart. True
Industry reports are generally expensive, ranging from several hundred dollars to thousands of dollars. True
For business research, the information you can access through business databases and other sources at your library is generally the least reliable. False
Who is the primary audience for most business reports? A. people who own stock in the companyB. low-level workers within the companyC. customers of the companyD. decision makers within the companyE. suppliers of the company D. decision makers within the company
How can you make sure that your business report meets the needs of the target audience? A. Consider updating them about progress and involving them in the process.B. Find out their biases and tailor the primary research to support their preconceived ideas.C. Save money by looking for already published reports that relate to the business problem.D. Cherry-pick data to match what you know the decision makers want to hear.E. Do the report as quickly as possible by using only information that already exists in databases. A. Consider updating them about progress and involving them in the process.
Which of the following statements about primary research is true? A. Primary research refers to data collected by others outside an organization.B. Primary research provides feedback directly related to an organization and its needs.C. Primary research is less time-consuming and expensive to carry out than secondary research.D. Primary research is always free from biases toward preexisting opinions and beliefs.E. Primary research is generally less useful for your business problems than secondary research. B. Primary research provides feedback directly related to an organization and its needs.
Which of the following is a disadvantage of conducting primary research into a business problem? A. It is less pertinent to a business’s particular problem.B. It is less reliable than secondary research.C. It cannot make use of open-ended questions.D. It is more time consuming than secondary research.E. It cannot be influenced by preexisting opinions. D. It is more time consuming than secondary research.
Carl heads the in-house market research department at Cook Champion Foods. He is planning a study of the relationship between television commercials for a product and children’s desire to buy the product after viewing the commercials. Which of the following is the best way for Carl to define his research problem? A. determine how children are influenced by the media they watchB. understand the psychology of children who watch televisionC. understand what makes for effective television commercialsD. determine the effect of television commercialsE. determine how television commercials affect children’s desires E. determine how television commercials affect children’s desires
Which of the following terms is used for the process that involves the analysis of data collected by others with no direction from you or members of your organization? A. white papersB. scholarly journalsC. primary researchD. secondary researchE. external blogs D. secondary research
Inga included this question on a customer survey: “Do you prefer restaurants like ours that have a wide variety of sandwiches?” The problem with that question is that it A. is too short.B. is simple to answer.C. has exhaustive choices.D. focuses on one idea.E. is leading. E. is leading.
Generally, bar charts are best suited for A. depicting a project’s progress.B. illustrating the pieces within a whole.C. depicting events and trends over time.D. comparing amounts or quantities.E. representing organizational hierarchy. D. comparing amounts or quantities.
Which type of visual should you use to display stock prices over time? A. a line chartB. a pie chartC. a bar chartD. a clustered-column chartE. a table A. a line chart
Which of the following chart types can be used to compare many types of data and is thus the most versatile? A. line chartsB. pie chartsC. bar chartsD. clustered-column chartsE. flowcharts C. bar charts
Daniel, the owner of D’s Inn, wants to graphically represent a comparison of his restaurant’s market share with those of the top competitors in the same city. His research findings suggest that D’s Inn has the largest market share. In order to present this data most effectively, Daniel should A. use a line chart instead of a pie chart.B. use a legend instead of data labels.C. make sure all segments of the pie chart have equal weight.D. use a long, descriptive title with at least fifteen words.E. highlight the focal point using color or labels. E. highlight the focal point using color or labels.
Which of the following formatting methods decreases the effectiveness of pie charts? A. placing the data series names and data labels together in the pie slicesB. using boldface printing on the largest pie sliceC. locating the smallest pie slice at 12 o’clockD. using a subtitle to support the main titleE. using the darkest color for the largest pie slice C. locating the smallest pie slice at 12 o’clock
Which of the following formatting guidelines increases the effectiveness of all types of charts? A. using many bright colors as a way to highlight focal pointsB. using darker colors to represent the most important data seriesC. using unusual fonts or many special effectsD. using 3-D charts to attract attentionE. using white type on dark backgrounds B. using darker colors to represent the most important data series
When you evaluate how well research can be revised to address your specific business problem, you are considering its A. reliability.B. relevance.C. adaptability.D. expertise.E. biases. C. adaptability.
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Problem set 3 (Business statistics)

“In sample we deal with …, in populations with…” 1.) Statistics2.) parameters
Which of the following provides a measure of central location for the data?a.) Standard deviation b.) Meanc.) Varianced.) Range Mean
A numerical value used as a summery measure for a sample, such as sample mean, is known as Sample Statistics
Since the population size is always larger than the sample size, then the sample statistic can be smaller, larger, or equal to the population parameter
μ is an example of population parameter
The median of a sample will always equal the 50th percentile
The median is a measure of central location
The 75th percentile is referred as the Third quartile
The pth quertial is a value such that at least p percent of the observation are less than equal to this value
The difference between the largest and the smallest data values is the range
The first quartile Is the same as the 25th percentile
Which of the following is not a measure of central location?a.)Mean b.) Medianc.) Varianced.) Mode Variance
If a data set has an even number of observation, the median is the average value of the two middle item when all item are arranged in ascending order
Which of the following is a measure of dispersiona.) Percentiles b.) Quartilesc.) Interquartile range d.) all of the above interquartile range
the most frequent occurring value of a data set is called the mode
The interquartile range is the difference between the third quartile and the first quartile
If index i (which is used to determine the location of the pth percentile) is not an integer, its value should be rounded up
When the data are skewed to the right, the measure of skewness will be positive
when data are positively skewed , the mean will usually be greater than the median
Which of the following is not a measure of dispersiona.) the rangeb.) the 50th percentialc.) the standard deviationd.) the interquartile range the 50th percentile
The range is used as a measure of variability to overcome what difficulty of the range? the range influenced too much by extreme values
If the variance of a data set is correctly computed with the formula using n-1 in the denominator the data set is a sample
In computing descriptive statistics from grouped data ( like frequency histogram) data values are treated as if they occur at the midpoint of a class
The measure of dispersion that is influenced most by extreme values is the range
When should measure of location and dispersion be computed from grouped data rather than from individual data values? only when individuals data values are unavaliable
The descriptive measure of dispersion that is based on the concept of a deviation about the mean is the standard deviation
The measure of location which is the most likely to be influenced by extreme values in the data set is the mean
The most important statistical descriptive measure of the location of data set is the mean
The numerical value of the standard deviation can never be negative
The sample variance could be smaller, equal to, or larger than the true value of the population variance
The variance can never be negative
the sum of deviations of the individual data elements from their mean is always equal to zero
Standard deviation of the population σ
mean of the population μ
variance of the population σ^2
size of the population N
mean of the sample -X
size of sample N
a numerical measure of linear associate between two variables correlation coefficient of covariance
positive values of covariance indicates positive relation between the independent and the dependent variables
the coefficient of correlation ranges between -1 and +1
the coefficient of correlation cannot be larger than 1
When the smallest and largest percentage of item are removed from data set and the mean is computed, the mean of the remaining data is the trimmed mean
during a cold winter, the temperature stayed below zero for ten days (ranging from -20 to -5). the variance of temp of the 10 days period must be at least 0
which of the following is not a measure of dispersiona.) modeb.) Standard deviation c.) ranged.) interquartile range mode
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GEB Chapter 4

Encouraged by the new Sarbanes-Oxley law, individuals who report unethical or illegal behavior within an organization are referred to as ____________.a) compliance policeb) whistleblowersc) corporate raidersd) vigilantes b
The most basic question in an ethics-based management system is asking the question:a) Is it balanced?b) Is it legal?c) Who will know?d) Has it been done before? b
Progressive companies today use __________ to communicate their CSR efforts with the public. Toyota, for example, ran a contest where it donated 100 cars to nonprofit organizations, voted on by Facebook™ and Twitter™ participants.a) free magazine, newspaper, and TV adsb) government-supported direct mail campaignsc) social mediad) employees and internal public relations c
Which of the following is not included as one of the questions we must ask when faced with an ethical dilemma?a) Is it legal?b) How will it make me feel about myself?c) Is it acceptable if everyone else is doing it?d) Is it balanced? c
Which of the following is not a part of an integrity-based ethics code?a) Defines an organization’s guiding principlesb) Supports ethically sound behaviorc) Emphasizes strong penalties for wrong-doersd) Stresses shared accountability c
A few months ago, Pedro’s Pizza House, a large nationwide chain of restaurants, purchased one of its competitors, Italian Stallion Pizza Stations, for $800 million. Italian Stallion stockholders got a very fair deal for their stock they owned in the company. However, the purchase was not without its problems. An issue arose when it was disclosed that somehow a member of Pedro’s management team mentioned the deal to a person he sat next to on a flight from LA to Seattle. That person called five of his relatives and several friends. They quickly bought shares of Italian Stallion and purchased the stock before the acquisition became public. These actions are called _________.a) acquisition stalkingb) pro-current procurementc) insider tradingd) moral impropriety c
When it comes to ethical behavior:a) many Americans decide what’s ethical based upon the situation in which they find themselves.b) most Americans have an absolute sense of what is moral.c) most Americans give a considerable amount of time to helping their communities.d) employees rarely violate safety standards or “goof off” at work. a
When an F5 (category 5) tornado hit a town in southern Missouri, the people that lived there needed the basics: food, water, and shelter. The owners of Boccardi’s Ristorante in St. Louis drove several hours with a van of employees, equipment, and food to donate what they could to help the storm victims. The business term we use to describe this philanthropic action is ___________________, where a company donates what it does best to help make a situation better.a) social impact programb) corporate beneficial managementc) corporate social initiatived) corporate inclusion policy c
Ethics are the standards of right and wrong set for us by society, whereas the law is __________.a) a higher calling where society acknowledges that we must take a higher level of action against what may be perceived as a wrongful actb) the specific and certain way of solving right and wrong that goes beyond what we consider good ethical behaviorc) the minimum protection a society enacts toward behavior that is harmful to manyd) obeyed strictly out of compliance, whereas ethical behavior is in complianc c
Which of the following statements reflects upon the difficulty companies face when requiring international suppliers to follow environmental and human rights standards set by U.S. firms?a) It’s the age-old reality: “Out-of-sight, out-of-mind.” U.S. companies tend to overlook and forget human rights abuses abroad.b) Multinational corporations are committed to operating within the legal limits of U.S. law. U.S. law does not require U.S. firms to comply because of competitive advantage concerns.c) U.S. companies follow the lead of consumers, and at this time, there is no evidence of a trend toward concern for better human rights and environmental standards.d) Both economics and culture enter into the discussion of fairness concerning international suppliers who do business with U.S. firms. d
Besides environmental groups, unions, and investors, a relatively new type of watchdog organization that reports on corporate social responsibility efforts is _____________.a) corporate raider divisionsb) secondary market companiesc) internal search and occupy organizationsd) socially conscious research organizations d
If your supervisor directed you to enter false information into a sales order book and told you if you refused that you would lose your opportunity for promotion, you would probably consider this situation to be a(n) ________.a) win-win situationb) corporate accountability issuec) ethical dilemmad) important act of self-interest c
American businesses are:a) demanding socially responsible behavior from international suppliers, particularly in the areas of environmental standards and human rights issues.b) holding international suppliers to different standards than American companies must adhere to in the United States.c) demanding that international suppliers adhere to higher, more costly standards than their American counterparts.d) not concerned with the ethical or socially responsible behavior of their international suppliers. a
The last recession changed the way many companies offer support to people and communities in need. Many companies ______________.a) increased financial donations to local areas but pulled away from national and global contributionsb) decreased financial donations and eliminated support in almost every wayc) decreased financial donations but encouraged their employees to volunteer their time to corporate social initiatives and projectsd) increased their financial donations because they understood how badly society needed a helping hand c
Jake served on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. One employee whose name was at the top of everybody’s list was instrumental in helping another employee who failed to wear his protective headgear to avoid suffering a serious head injury. Although this was a noble act, Jake knew that the hero was frequently negligent about wearing his own headgear. Jake knew that several other employees followed strict company policy every day and always wore their headgear; yet, they were not being acknowledged for their compliance. According to Norman Vincent Peale, which of the following questions should Jake refer to as he proceeds to make an ethical decision?a) Is the action I am proposing to take something the boss would like to promote among workers?b) How does the action I am proposing to take make me feel about myself?c) Does the action I am about to take follow universal business practices?d) How can my decision help elevate my own status within the firm? c
According to the text, ethical behavior begins with:a) religious and community leaders.b) government regulations and laws.c) top corporate leaders.d) ourselves. d
Organizational ethics begins:a) at the top levels of management.b) only with full-time employees.c) with the labor unions and employee groups.d) with mid-level and supervisory managers. a
Which of these actions is least likely to restore the trust of the American public in the free-market system?a) Passing stricter accounting and financial reporting laws.b) Punishing those who have broken the law.c) Define the concept of ethics more narrowly, and make the definition closer to the definition of legality.d) Passing new laws making business, religious and government leaders more accountable for their actions. c
Government and business leaders are being held to:a) lower ethical standards than in the past.b) ethical standards in the U.S., but unfortunately foreign leaders are not being subjected to ethical scrutiny.c) ethical standards are often unreasonable and cannot be met by most leaders.d) higher ethical standards than in the past. d
The Pak-It-Your-Way Company makes custom packaging of all kinds. The firm has evolved into a big business due to quality and innovative work. Recently, top management asked company departments to list and evaluate the kinds of socially responsible efforts conducted internally and externally in the business and also to list negative occurrences that supervisors observed. Top management is essentially conducting a(n)_____________.a) social auditb) aggregate independent appraisalc) 360-reviewd) internal investigation a
U.S. companies that operate abroad, particularly those who contract with foreign companies, are now ________ human rights and environmental standards followed by U.S. law.a) separating themselves from suppliers who violateb) asking suppliers to lower their standards to be in compliance withc) free from the concern ofd) requiring suppliers to be evaluated monthly concerning a
Which of the following is the best reason for a business to be managed ethically?a) So that government regulators will not be able to complain about the ethical behavior of the company.b) If the company is engaged in a lawsuit, the ethics code can be used as a legal defense.c) An ethically managed business helps to reduce employee turnover.d) Business leaders don’t want to get caught behaving unethically. c
The first day on the job waiting tables at a popular restaurant, Ashley noticed that when one member of the wait staff was serving a very large party, the other waiters would help with carrying food to the tables and even checking to make sure water glasses were filled. Although these actions were not part of the mandatory wait staff training, Ashley perceived that wait staff members who were not attentive in helping out were not viewed as team players by the majority of employees. Ashley was observing an example of the ___________ followed at this organization.a)social order ethicsb) integrity-based ethicsc) compliance-based ethicsd) actual ethics b
A legal provision known as the _______________ now provides an award for whistleblowers whose actions result in a legal conviction. The monetary award may total as high as 30% of the amount collected for violations, above the first $1 million.a) Sarbanes-Oxley Rulingb) Internal Audit Company Protection Actc) Dodd-Frank Wall Street Reform and Consumer Protection Actd) Sherman Act c
Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. In the long run, they believe ______________.a) benevolence can lead to a vote of no confidence by company stakeholdersb) CSR can lead to even more profitsc) the fastest way to demoralize your stakeholders is to spend too much money supporting social issues, such as having employees assist in community effortsd) firms should take added caution not to support government programs that protect the environment b
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Chapter 6 quiz

Which of the following terms refers to the process individuals or groups go through to​ select, purchase,​ use, and dispose of​ goods, services,​ ideas, or experiences to satisfy their needs and​ desires?A.InvolvementB.Consumer behavior.C.Search engine marketing​ (SEM)D.Perceived riskE.Search marketing Consumer behavior
If a consumer sees a significant difference between his or her current state of affairs and some desired or ideal​ state, which step of the consumer​ decision-making process is the consumer​ in?A.Evaluation of alternativesB.​Post-purchase evaluationC.Problem recognition.D.Information searchE.Product choice Problem recognition
In which step in the​ consumer-decision making process will a consumer narrow down choices deciding on​ feasibility, and comparing the pros and cons of each remaining​ option?A.​Post-purchase evaluationB.Information searchC.Evaluation of alternatives.D.Problem recognitionE.Product choice Evaluation of alternatives
If a consumer is experiencing cognitive dissonance regarding his or her​ purchase, the consumer is on what step of the consumer​ decision-making process?A.Evaluation of alternativesB.​Post-purchase evaluation.C.Product choiceD.Problem recognitionE.Information search Post-purchase evaluation
Which of the following terms refers to the process by which people​ select, organize, and interpret information from the outside​ world?A.MotivationB.PerceptionC.ExposureD.InterpretationE.Attention perception
A Rolex​ watch, a Lexus​ car, and even the latest Apple iPhone are all examples of a​ _____ symbol.A.culturalB.status.C.subculturalD.consumerE.style status
Which of the following refers to demand in which changes in price have little or no effect on the amount​ demanded?A.Inelastic demand B.Joint demandC.Organizational marketsD.Fluctuating demandE.Derived demand Inelastic demand
Which of the following describes a​ business-to-business, or​ organizational, market?A.Purchases frequently made on impulseB.Purchases for individual or household consumptionC.Purchases involving competitive​ bidding, price​ negotiations, and complex financial arrangementsD.Many individual or household customersE.Demand based on consumer needs and preferences that is generally​ price-elastic, steady over​ time, and independent of demand for other products Purchases involving competitive​ bidding, price​ negotiations, and complex financial arrangements
Which of the following refers to a group that purchases finished goods for the purpose of selling those finished goods for a​ profit, renting, or leasing to consumers and other​ businesses?A.Government marketsB.ResellersC.​Not-for-profit marketsD.Organizational marketsE.Producers Resellers
correct, Chapter Quiz 6.5.4 Which of the following terms refers to creating a written description of the​ quality, size,​ weight, color,​ features, quantity,​ training, warranty, service​ terms, and delivery requirements for the​ purchase?A.Customer reference programB.Multiple sourcingC.Product specificationsD.Single sourcingE.Reciprocity Product specifications
Which of the following refers to the process individuals experience when working to satisfy their needs and​ desires?A.Consumer behaviorB.Perceived riskC.Problem recognitionD.Habitual decision makingE.Extended problem solvin Consumer behavior
What type of purchase decision is often based on a response to cues in the environment rather than the perceived consequences of the​ purchase?A.Determinant attributeB.​Low-involvementC.Problem recognitionD.​High-involvementE.Consideration set ​Low-involvement
___ is the process individuals or groups go through to​ select, purchase,​ use, and dispose of​ goods, services,​ ideas, or experiences to satisfy their needs and desires.A.InvolvementB.Consumer behaviorC.Perceived riskD.Search marketingE.Search engine marketing​ (SEM) Consumer behavior
____ is the last step in the consumer​ decision-making process in which the consumer evaluates the quality of his or her choice.A.Information searchB.Product choiceC.​Post-purchase evaluationD.Problem recognitionE.Evaluation of alternatives ​Post-purchase evaluation
In​ the________ step of the consumer​ decision-making process, a consumer focuses on two components​ first, and a consumer armed with information identifies a small number of products in which he or she is interested. Then using a set of evaluation​ criteria, the consumer will decide among the options.A.evaluation of alternativesB.problem recognitionC.information searchD.product choiceE.​post-purchase evaluation evaluation of alternatives
Which of the following is NOT one of the steps in the​ decision-making process?A.Product choiceB.Problem recognitionC.Perceived riskD.Evaluation of alternativesE.Information search Perceived risk
Which of the following is the theory that learning occurs based on past experiences and connections​ formed?A.Behavior learningB.Hierarchy of needsC.Observational learningD.PsychographicsE.​Top-of-mind awareness Behavior learning
How can marketers increase the chances that consumers will have a connection​ to, and respond​ to, an​ ad?A.Incorporate gamificationB.Eliminate demographic cuesC.Offer interpretationD.Conduct observational learningE.Base the ad on personal needs and goals Base the ad on personal needs and goals
_____ is the process by which people​ select, organize, and interpret information from the outside world.A.ExposureB.AttentionC.PerceptionD.MotivationE.Interpretation Perception
When marketers give celebrities free products in hopes the celebrity will like and show off the​ product, marketers are using​ ________, which is the process by which people​ select, organize, and interpret information from the outside world.A.motivationB.perceptionC.exposureD.attentionE.interpretation exposure
_____ is a type of learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response on its own but will cause a similar response over time because of its association with the first stimulus.A.Classical conditioningB.Operant conditioningC.Observational learning theoryD.Behavioral learning theoryE.Cognitive learning theory Classical conditioning
Rich media can best be described as​ ________.A.an internal state that drives us to satisfy needsB.the process of assigning meaning to a stimulus based on prior associations we have with it and assumptions we make about itC.a digital advertising term for an ad that includes advanced features like video and audio that encourage viewers to interact and engage with the contentD.companies that collect information on consumers and use it to create detailed profiles of individualsE.a strategy in which marketers apply game design techniques to​ non-gaming contexts like shopping a digital advertising term for an ad that includes advanced features like video and audio that encourage viewers to interact and engage with the content
Which situational influence determines whether a shopper will react positively or negatively to a store or shopping​ experience?A.ValuesB.Physical environmentC.CultureD.Social classE.Time Physical environment
Who are the people who easily influence​ other’s attitudes or behaviors based on perceived expertise or knowledge about a​ product?A.Mass class leadersB.Commercial endorsersC.Opinion leadersD.Reference groupsE.Producers Opinion leaders
____ is a marketing technique that links distinct experiences such as a unique fragrance with a product or service.A.Sensory marketingB.CultureC.MicrocultureD.Time povertyE.Subculture Sensory marketing
___ refers to the hundreds of millions of global consumers who now enjoy a level of purchasing power​ that’s sufficient to let them afford​ high-quality products offered by​ well-known multinational companies.A.Opinion leaderB.​Mass-classC.Social classD.Reference groupE.Status symbol mass-class
Many consumers are becoming very aware of the social and environmental consequences of their purchaseslong dashand making their decisions accordingly.​ ________ refers to the social movement directed toward protecting consumers from harmful business practices.A.SubcultureB.MicrocultureC.ConsumerismD.CultureE.Sensory marketing Consumerism
An opinion leader can best be described as​ ________.A.the overall rank of people in a societyB.the visible markers that provide a way for people to flaunt their membership in higher social classes​ (or at least to make others believe they are​ members)C.the hundreds of millions of global consumers who now enjoy a level of purchasing power​ that’s sufficient to let them afford​ high-quality products offered by​ well-known multinational companiesD.a person who influences​ others’ attitudes or behaviors because they believe that he or she possesses expertise about the productE.a set of people that a consumer wants to please or imitate a person who influences​ others’ attitudes or behaviors because they believe that he or she possesses expertise about the product
Goods that are produced and sold to help support the operations of other businesses are part of the​ _____.A.​business-to-business marketB.​single-sourcing marketC.customer reference programD.government marketE.buy class framework business-to-business market
When the demand for goods in a business is based on consumer demand for what is​ produced, the organization is operating based on​ _____.A.B2B demandB.derived demandC.geographic concentrationD.organizational marketsE.​limited-term relationships derived demand
In B2B​ markets, ________ demand means that it usually​ doesn’t matter if the price of a B2B product goes up or down–business customers still buy the same quantity.A.jointB.inelasticC.fluctuatingD.derivedE.organizational markets inelastic
Which of the following describes an organizational​ market?A.Purchases for individual or household consumptionB.Purchases frequently made on impulseC.Demand based on consumer needs and​ preferences, which is generally​ price-elastic, steady over​ time, and independent of demand for other productsD.Many individual or household customersE.Purchases made by someone other than the user of the product Purchases made by someone other than the user of the product
__ make up the largest single business market in the United States.A.ProducersB.ResellersC.Government marketsD.Organizational marketsE.​Not-for-profit markets Government markets
Which of the following is NOT considered typical of organizational​ markets?A.Purchasers often engage in lengthy decision processesB.Purchases made according to precise technical specifications based on product expertiseC.Purchases frequently involve high risk and high costD.Interdependencies between buyers and​ sellers; long-term relationshipsE.The ultimate user often makes the purchase The ultimate user often makes the purchase
Which buyclass framework includes those items a business purchases on a regular​ basis, such as office​ supplies?A.Procurement buyB.Customer reference programC.Modified rebuyD.Straight rebuyE.Product specification buy Straight rebuy
If a firm needs specialized product or frequent deliveries of​ products, what type of supplier relationship should be​ pursued?A.OffshoringB.ReciprocityC.Single sourcingD.Modified rebuyingE.Multiple sourcing Single sourcing
A​ ________ refers to the routine purchase of items that a B2B customer regularly needs. The buyer has purchased the same items many times before and routinely reorders them when supplies are​ low, often from the same suppliers. Reordering the items takes little timeA.modified rebuyB.straight rebuyC.buyclassD.buying centerE.​new-task buy straight rebuy
The​ ________ is the member of the buying center who makes the final choice. This person usually has the greatest power within the buying​ center; she often has power within the organization to authorize spending the​ company’s money.A.initiatorB.influencerC.gatekeeperD.deciderE.user decider
Target’s computer system was breached when hackers installed​ ________ software designed specifically to damage or disrupt computer systems.A.firewallB.reverse marketingC.malwareD.encryptionE.outsourcing malware
According to a recent study cited in the​ textbook, which of the following social media sites was one of the top three most likely to be used by B2B​ marketers?A.​Yahoo!B.LinkedInC.PinterestD.InstagramE.Google LinkedIn
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Business Flashcards

Business Law – Chapter 8

A contract entered into under undue influence is voidable.​ True.
U-Can-Own-It Corporation sells appliances to less educated consumers, including Viv, on installment plans. U-Can-Own-It files a suit against Viv when she stops making payments. Viv claims that the deal is unconscionable. The court will most likely consider​ The parties’ relative bargaining power.
The chief executive officers of Chemico, Inc., and Petro Products Corporation orally agree that Chemico will sell a refinery and the land on which it is situated to Petro. Under the Statute of Frauds, this deal is enforceable by​ None of the choices.
Intoxicated and not aware of the consequences, Umberto agrees to a two-year cell-phone service contract with Wander Talk, Inc., at more than the average market price. This contract is​ Not enforceable because Umberto was intoxicated enough to lack mental capacity when he agreed to it.
To be enforceable, a memorandum evidencing an oral contract must include the essential terms.​ True.
Sofia signs a covenant not to compete with her employer, Topmost Sales Corporation. A court decides that the covenant is overly restrictive. The court will likely​ Reform its terms to prevent any undue burden.
When both parties to a contract are mistaken about the same material fact, the contract cannot be rescinded.​ True.
A covenant not to compete is enforceable only if it is reasonable in duration and geographic area.​ True.
Nyoko signs a covenant not to compete with her employer, Midstates Distribution, Inc. The covenant will be enforced if it​ is reasonable with respect to geographic area and duration.
Misrepresentation of law ordinarily entitles a party to relief from a contract.​ False.
Gene, an accountant, convinces his client Hazel to sign a contract to invest her savings in 2Gether, a nonexistent social-networking Web site. There is clear and convincing evidence that Hazel did not act out of her free will. This is​ Undue influence.
Guardian Security, Inc., and Hedge Fund Corporation enter into an oral contract under which Guardian Security agrees to provide security services for Hedge Fund’s offices for as long as Hedge Fund needs them. This contract may be enforceable by​ Either Guardian Security or Hedge Fund
A covenant not to compete included in the sale of an ongoing business is unenforceable.​ False.
In certain circumstances, bargains are so oppressive that the courts relieve innocent parties of part or all of their duties.​ True.
Neil, a minor, attempts to return to its former owner, a set of skis that he recently bought, used, and wrecked, in a state in which a duty of restitution is imposed. Neil Must return the skis and pay for the damage.
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Business 6-9

Management can achieve its goals by coordinating what four types of resources Material, informational, human, and financial
Coordinating people and the other resources of an organization to achieve the goals of the organization is the process of Management
Airplanes, crates, and trucks represent __________resources for Federal Express Material
Lawyers, accountants, and engineers are ________ resources of Microsoft Human
Revenues, proceeds from stock sales, and loans from bank are ________ resources for Sears Financial
As an upper level manager for Microsoft, Rodney is one of many people responsible for allocating organizational resources in order to achieve the key goals of a company. Specifically, Rodney is in charge of collecting and analyzing data on consumer preferences in personal computer design and technology ans is thus responsible for what general type of resource Informational
Planning, organizing, leading/motivating, and controlling make up the Four basic functions in the management process
Specific statements detailing what the organization intends to accomplish over a short period of time are called Objectives
A SWOT analysis is an identification and evaluation of a firm’s strengths, weaknesses, ___________, and threats Opportunities
Which of the following is external to a firm and exists independently of a company Opportunities
Which of the following would least likely to be considered a threat to an organization Human resources of an organization
Grouping resources and activities to efficiently and effectively accomplish a result is called Organizing
The process of evaluating and regulating ongoing activities to ensure that goals are achieved is known as Controlling
A large computer company provides well-being seminars free to its employees and provides them with a fitness facility to encourage physical and mental health. The company hopes this will create a satisfying work environment. Which managerial function does this involve Motivating
American Airlines has established a goal of increasing its profits by 12 percent next year. To ensure that the goal is reached, management monitors profits on a monthly basis. After three months, if profits have not increased by 3 percent, management will take corrective action to get the company on track. By doing so, management is carrying out its ___________ function Controlling
The CEO’s role at General Electric requires him to spend a great deal of time on planning. This indicates that he is a(n) __________manager Top
Chris Gomez is a plant manager for national Manufacturing Company. With regard to levels of management, Chris is a(n) _________manager Middle
A manager who coordinates the activities of operating employees is a(n) ________manager First-line
A manager who has the ability to see the big picture of an organization and to understand how the various parts of the organization can fit together has ________skills Conceptual
Specific skills needed to accomplish specialized activities such as drafting and welding are known as _________skills Technical
A manager with _______skills has the ability to deal effectively with people inside and outside the organization Interpersonal
A former CEO at International Telephone and Telegraph has a reputation for publicly humiliating subordinates who annoyed or disappointed them. This manager obviously needed to improve his ________ skills Interpersonal
Mondell’s lack of effective writing skills and his challenges in speaking to groups of people is causing stress in his job. He is becoming very aware that he needs to improve his _______skills Communication
Although Frank is not in top management, he is charismatic and well liked by others in his organization. Other employees often look to Frank to see how he reacts to new policies implemented by top management, and they follow his lead. Frank has _______ leadership in his organization Informal
Shyana has formal power in the Coffee Lovers, Ltd. organization while Sam has informal power. One of the primary differences between Shyana and Sam is that Shyana has ________ within the organizations while Sam does not Authority
Vice president, marketing — Regional sales manager — District manager — Sales supervisor represents a(n) Chain of command
Legal services and public affairs are ________ types of jobs, so they do not fit directly into the chain of command Advisory
The various tasks in IBM’s manufacturing plant are arranged so that one worker draws the wiring, another strengthens the wires, a third cuts them, a fourth inserts them, and a fifth seals them together. This is an example of job Specialization
A benefit of job specialization is that it Is easier to train new employees
When a worker has to learn only a specific, highly specialized task, that individual should be able to learn to do it efficiently. However, this efficiency could eventually become inhibited by job monotony and boredom. This situation could be alleviated through Job rotation
Grouping jobs into manageable units according to some reasonable scheme is known as Departmentalization
Location, product, function, and customer are common bases for a firm’s Departmentalization
A computer manufacturer is first divided into the following groups: Home Office/Personal Use, Small Business, Large Business, and Educational Institutions. Within each of these divisions, management is organized into finance, operations, marketing, and human resources. This company is organized first by ________, then by ________ Customer; Function
General Motors has separate divisions for Chevrolet, Pontiac, Oldsmobile, Buick, and Cadillac. This is an example of departmentalization by Product
A firm organized on the basis of retail customers and wholesale customers utilizes the concept of departmentalization by Customer
The assignment of part of a manager;s work authority to a worker is called Delegation
Janet is a runner for a large law firm. Her duties include purchasing supplies for the copy room. Janet was given permission by the office manager to sign credit-card receipts when making purchases. Janet has been given ________ to use the firm’s credit card Authority
The degree of centralization of an organization is based on the Delegation of authority
The more complex and uncertain a company’s environment, the more likely it is that the company will Decentralize the organization
A common characteristic of a centralized organization is Decision making by a few top-level managers
Rockwood International needs to make risky decisions on a daily basis. Therefore, its managers are likely to Centralize decision making
A biotechnology company is constantly faced with important decisions that are likely to have severe consequences on the future of the company. The top managers should Exercise centralized decision-making authority
The head of the marketing department of CBS Environmental, Inc., supervises twelve people in her department. This represents her Span of management
Zyquila is a manager in an organization where a great deal of interaction is required between herself and her workers and new problems arise frequently. Zyquila is likely to have A narrow span of control
Many organizations today are moving toward a(n)________ organization in an effort to get decisions made more quickly and action plans implemented more rapidly Flatter
A manager with few subordinates is said to have a Narrow span of control
A span of control may be wide when Few new problems are expected to arise
George Brown is a regional sales manager of Unisys, a large manufacturer of computer systems. As such, George is responsible for salespeople throughout the region, and he must interact with them frequently to solve problems. Which of the following descriptions is most characteristic of Unisys and its sales managers Narrow span of management control and tall organization height
A consulting manager at SAP America has a very side span of control. This is probably because the Manager and his or her subordinates are very competent
The number of layers, or levels, in a firm is referred to as the firm’s Organizational height
Generally speaking, a narrow span of management implies that the height of the organization will be ________; a wide span of management implies that the height of the organization will be ________ Tall; Flat
A small restaurant with wait staff that reports to staff managers who reports to a floor manager who report to the restaurant manager is a clear example of a __________ organizational structure Line
A basic difference between line managers and staff managers is that the line managers have ________ which staff managers rarely have Authority
When line managers in an organization encounter issues that a staff member with specialized expertise can assist with, the staff member they consult with has ________ authority Advisory
In an organization with a matrix structure, authority flows both Down and across
Airo Corporation has a traditional structure. It wants to change to a project structure that will allow more interaction among functional groups. Which structure would you suggest Matrix
Gio is in charge of making sure the raw steel brought into her company’s factory is turned into high-quality bearings for sale to customers. Gio is a(n) ________ manager Operations
John works for Texas Instruments. His task involve traveling to nearby colleges, interviewing students for hire after graduation, selecting certain ones to be invited for an office visit, and acquainting them with the facilities. He is in which phase of the HRM process Acquiring human resources
Activities that increase employees satisfaction such as surveys, employee communication programs, exit interviews, and fair treatment are all part of which phase of the human resources management process Maintaining human resources
Generally, human resources management is a responsibility shared by line managers and HRM specialists
Information on evolving technologies, industry staffing practices, projected economic trends, the particular company’s future business ventures, new products, and projected expansions or contractions of certain product lines can be helpful in predicting Human resource demans
When sales drop each summer at Vail Mountain Resorts, a high-quality destination ski area, the resort owners temporarily have too many employees to service the reduced number of tourists that enjoy the area during the warmer months. In this situation, the resorts most likely would Lay off workers
When people from a variety of different countries and educational and work experience backgrounds come together to work on a project, they often have varying perspectives on given issues. This benefits the company in the form of Better problem solving
Martin Enterprises wants to ensure that it thoroughly understands all of its jobs so that it can determine the qualifications each job demands. To do so, Martin would first Conduct job analysis
Gabriela wanted to know about the skills and experiences needed to qualify for a management position with JCPenny. Thus, he called and asked the personnel specialist to send him a job Description
When Foot Locker, a retailer of athletic shoes, wanted to study the various elements and requirements of the positions needed to staff a store in a large mall, it most likely began by Instituting a job analysis procedure
The process of attracting qualified job applicants is called Recruiting
Atlas Company pays workers $500 for recommendations that result in a hiring. In two years, the company has hired at least forty people through this program. Atlas Company is fulfilling its employment needs by using ________ as a recruiting source Employee referrals
All of the following are sources of external recruiting except Promotion of a current employee
You were asked to write a report to management indicating the primary advantage of external recruiting. You chose to focus on external recruiting’s abilities to ________ as its primary advantage Bring in new perspectives and varied background
One organization carefully observes candidates’ mannerisms, another uses gut feelings, and still another compares the candidates’ grade point averages when making a ________ decision Selection
Misumi wants to impress prospective employers with a summary of her background and qualifications for a management position. Her father, who is a businessperson, suggested sending a(n) Resume
The interview is part of Selection
Perhaps the most widely used selection technique is the Interview
People who can verify background information and provide personal evaluations of candidates References
What is cultural diversity, and why is it an important issue? It is differences among people in a workforce owing to race, ethnicity, religion, age, gender, and physical or learning abilities. It is important because it improves creativity and fresh view points for problem solving and decision making
To learn the exact nature of a job, we may use job analysis, a job description, and a job specification. For what purpose is each used? What information would a job description contain? A job specification? Job Analysis: Studying jobs to determine requirements. Job description: List of elements for a job–Duties, conditions, responsibilities. Job specification; List of qualifications to perform a job–Skills, abilities, education, experience
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Business Ethics Chapter 1 Quiz

The paradox of hedonism (or the paradox of selfishness) is that people who are exclusively concerned with their own interests tend to have happier and more satisfying lives than those who are concerned about other people. True
Which of the following characteristics distinguishes moral standards from other sorts of standards? moral standards take priority over other standards
Choose the statement that is a true reflection of moral beliefs Bystander apathy appears to result in part from diffusion of responsibility.
The benefits within moral standards are best seen in which statement? Professional codes are the rules that are supposed to govern the conduct of members of a given profession.
According to divine command theory, if stealing is wrong then it is wrong because:a. God forbids stealing because stealing is wrong.b. God leaves right and wrong up to humanity.c. Stealing is wrong only because God commands us not to steal.d. Our reason determines stealing to be wrong. C
The example of Huckleberry Finn shows:a. unlike most people, Huckleberry Finn lacked a conscience. b. we shouldn’t rely uncritically on what our conscience says.c. when in doubt, one should ignore one’s conscience.d. one should always obey one’s conscience. B
Our conscience evolved as we internalized the moral instructions of the parents or other authority figures who raised us as children. True
According to Tom Regan, our considered moral beliefs are those we hold only after we have made a conscientious effort (a) to attain maximum conceptual clarity, (b) to acquire all relevant information, (c) to think about the belief and its implications rationally, (d) impartially, and with the benefit of reflection, (e) coolly. True
Our relationship with the law is best described by which of the following?a. Violating the law is always immoral.b. The law is a completely adequate guide to the moral standards that we should follow.c. The law makes all immoral conduct illegal. d. To a significant extent, law codifies a society’s customs, norms, and moral values. D
A tangible truth about having moral principles is:a. business is fundamentally an amoral activity.b. if you do the right thing only because you think it will pay off, you’re not really motivated by moral concerns.c. morally responsible companies are rarely among the most profitable.d. moral behavior always pays off in strictly selfish terms. B
The famous experiments by social psychologist Solomon Asch showAnswers: a. the power of peer pressure has been greatly exaggerated. b. even temporary groups can pressure people to conform.c. the truth of utilitarianism.d. business organizations put more pressure on individual integrity than do other kinds of organization. B
Moral attitudes are best depicted by which of the following?a. As long as your conduct is legal, then it will be moral. b. Moral standards typically concern behavior that can be of serious consequence to human welfare.c. There is no distinction between morality in a broad sense and morality in a narrow sense.d. If you follow the rules of etiquette, your conduct will be moral. B
When ethical relativism is put into practice, it implies that:a. as societies evolve, their morality improves.b. in ethics, sometimes the minority is right.c. societies never share any moral values in common.d. we cannot say that slavery is wrong if the society in question believes it is right. D
Good moral judgments should be logical and:a. based on facts and acceptable moral principles.b. based on religion.c. beyond rational doubt.d. coincide with what most scientifically trained people think. A
When religion and morality are considered:a. the moral instructions of the world’s great religions are often general and imprecise.b. atheists are likely to be less moral than religious people.c. most people act rightly only because their religion tells them to.d. in practice, people who share a religion will agree on all moral questions. A
Ethical relativism supports the theory that:a. there are no moral values whatsoever.b. different societies have similar ideas about right and wrong. c. what is right is determined by what a culture or society says is right.d. morality is relative to the goal of promoting human well-being. C
Philosophical discussion of moral issues typically involves:a. the revision and modification of arguments.b. circular reasoning.c. polished rhetoric and skill at debate.d. determining what the majority thinks. A
The authors use the murder of Kitty Genovese to illustrate:a. bystander apathy.b. the paradox of hedonism.c. groupthink.d. ethical relativism. A
For philosophers, the most important issue is not where our moral principles came from, but:a. to what extent religion influences people’s moral beliefsb. how we acquired the beliefs we havec. the legal basis for acting morally d. whether those moral principles can be justified D
Choose the statement that gives the most accurate description of etiquette:a. etiquette refers to any special code of social behavior or courtesyb. the rules of etiquette are backed by statutory lawc. the rules of etiquette are a fundamental branch of moralityd. conformity with the rules of etiquette is sufficient for moral conduct A
Accepting a moral principle:a. is a purely intellectual act like accepting a scientific hypothesis. b. generally involves a desire to follow that principle for its own sake.c. is a religiously based act of faith.d. means you will never go against that principle. B
Proper logic states:a. a sound argument may have a false premise.b. a sound argument may have a false conclusion. c. all sound arguments are valid arguments.d. all valid arguments are sound arguments. C
Morality and self-interesta. are in basic, irreconcilable conflict.b. boil down to the same thing.c. can sometimes conflict.d. can never come into genuine conflict. C
If an argument is valid, thena. its conclusion must be true, if its premises are.b. the argument’s premises are true.c. the argument is sound.d. the argument’s conclusion must be true. A
Which statement is true concerning moral principles and self interests?a. Philosophers agree that morality is based on the commands of God.b. Statutes are laws applied in the English-speaking world before there were any common laws. c. Morality serves to restrain our purely self-interested desires so that we can all live together.d. “Groupthink” is a positive and necessary characteristic of all groups. C
The code or principles of conduct that a person acceptsAnswers: a. rarely guide his or her conduct in practice. b.can be distinguished from the person’s morality in a broader sense that includes his or her values, ideals, and aspirations.c. constitute the whole of his or her morality. B
Which philosopher referred to a bureaucracy as “rule by nobody”? Hannah Arendt
Which philosopher referred to a bureaucracy as “a circle from which no one can escape” ? Karl Marx
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Chapter 4 Document Makeover

The subject line of a business message should​ _____. clearly indicate the topic of the message
The opening of a business message using the direct approach must​ _____. state the main idea clearly
A knowledgeable business writer can help readers by​ _____. providing an organizational structure to the message
An​ efficient, well-organized business message​ _____. contains only relevant ideas
Even a​ well-organized business message needs a​ _____or it loses credibility. thorough proofreading