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Exam 5: Business, Societal, and Ethical Contexts of Law

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Question 1

True/False

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AIG caused a major political firestorm when,after receiving taxpayer bailout money,it distributed $165 million in performance bonuses to executive employees.

A) True
B) False

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Question 2

Multiple Choice

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After numerous threats from the federal government to enact laws and taxes to recoup bonus money paid to executive employees at AIG,of the reported $165 million paid out,how much was returned by those receiving bonuses?

A) approximately $50 million
B) approximately $75 million
C) approximately $100 million
D) approximately $120 million

E) B) and C)
F) A) and D)

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Question 3

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Ivan is 85 years old and Gianna,his wife,is 83.They are on a fixed retirement budget and have no disposable income and no savings.Gianna's doctor informs her that she requires a particular medicine that costs $84.They don't have money to buy the medicine,there are no relatives or friends to ask,and there are no programs that can provide them with the money for the medicine.Feeling he has no choice,Ivan goes to the local bank and robs it,handing the teller a note demanding $84 in small bills.Discuss Ivan's action from a moral and ethical point of view.

Assume that you have money you'd like to invest in stock.Would you prefer to invest in a company that evidences values based on the invisible hand theory,the government's hand theory,or the good corporate citizenship theory of operations? Explain reasons for your choice,and indicate why the rejected choices were not chosen.

A company's environmental policy and employee expectations regarding protection of the environment would be found in the company's code of _______.

In your opinion,was Facebook's use of A/B testing ethical or unethical? Explain.

Each of the following is a key component in the creation and implementation of a company's values management program except

The final result of the AIG Bonusgate scandal was that no new laws or taxes were enacted,nor were there any additional official actions taken by Congress or the president.

Toby's company has a code of ethics and a separate code of conduct.If he would like to find out about the company's expectations or requirements regarding community service,he would reference the code of ethics.

A company's code of conduct and code of ethics may be combined into a single document.

The fundamental underlying concept of corporate social responsibility is that conscience resides in individuals but not in a corporation itself.

Facebook submitted its experiment for pre-approval to the Institutional Review Board,an independent ethics committee that requires scientific experiments to abide by consent and safety standards.

Immanuel Kant is credited with developing the utilitarian stream of moral reasoning.

The ethical decision-making approach of John Rawls,under which everyone negotiates from behind a veil of ignorance,is often referred to as a contract-based approach.

That corporations have a social responsibility and that profitability should be secondary reflects

Faber College,founded in 1904,is an integral part of its surrounding community.Which of the following is a primary stakeholder in Faber College?

The triple bottom line in the perspective of corporate social responsibility emphasizes each of the following except

Nobel Prize-winning economist Milton Friedman believed that

The moderate view of assessing corporate citizenship holds that

What is the difference between ethics and morals?