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BUS 309 QUIZ 4

BUS 309 QUIZ 4

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Author: Christine Farr
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Many economists are concerned that the growing trade deficit makes the U.S. vulnerable to

A basic premise of Adam Smith's invisible hand argument is

Evidence for the idea that American manufacturing is declining is

A basic tenet of capitalism is that

Which statement accurately describes capitalism?

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

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

Karl Marx believed that

According to one survey of cultural values

Marxism states

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

An exclusive focus on short-term performance

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

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

Which of the following historical stages of capitalism came first?

Milton Snoeyenbos argues that

The best statement concerning corporations is

Which of the following is one of the three arguments in favor of narrow corporate social responsibility discussed in Chapter 5?

Momentum for the corporate organization of business really gained momentum after which war?

The first corporations

Externalities are

A common point of contention about corporations is

The statement that accurately describes corporations is

Which of the following do advocates of the broader view of corporate social responsibility believe?

The idea that corporations are moral agents

In the corporate world, the board of directors will typically

Kenneth Arrow discussed two important situations in which profit maximization can be socially inefficient. One of these occurs when

Adam Smith proposed that in our pursuit of economic interests we are led by

Milton Friedman’s perspective is that the only social responsibility of a business is to

In Citizens United v. Federal Elections Commission, the U.S. Supreme Court


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