Sources of Law practice questions

Question: Regarding primary values and business ethics, what does the value of “justice” include?

Answer Options:
A. Possessing a large enough supply of goods and services to meet basic demands
B. Having the capacity or resources to act as one wishes
C. Treating all humans identically, regardless of race, class, gender, age, and sexual orientation
D. Being safe from those wishing to interfere with your property rights
E. Maximizing the amount of wealth in society

Answer: C) Treating all humans identically, regardless of race, class, gender, age, and sexual orientation

Question: Positive abstractions that capture our sense of what is good or desirable are called which of the following?

Answer Options:
A. Action goals
B. Values
C. Desirable principles
D. Conscience demands
E. Ethical ideas

Answer: B) Values

Question: According to the text, which of the following may be a part of the “How” in the WH process of ethical decision-making?

Answer Options:
A. Public disclosure, universalization, security, and the Golden Rule
B. Values, public disclosure, and security
C. Profit maximization, security, and public disclosure
D. Whistle-blowing, the Golden Rule, values, and public disclosure
E. Public disclosure, universalization, and the Golden Rule

Answer: E) Public disclosure, universalization, and the Golden Rule

Question: Which of the following is true regarding the stakeholders of a business?

Answer Options:
A. Shareholders can be stakeholders, but stakeholders cannot be shareholders.
B. Employees are stakeholders, but shareholders are not.
C. Customers are stakeholders, but owners and employees are not.
D. Management cannot be stakeholders.
E. Shareholders, employees, customers, and management are all stakeholders.

Answer: E) Shareholders, employees, customers, and management are all stakeholders.

Question: Ethical decision-making has which of the following values?

Answer Options:
A. Profit maximization
B. Justice and profit maximization
C. Freedom, security, and profit maximization
D. Freedom, security, justice, and efficiency
E. Freedom, profit maximization, and security

Answer: D) Freedom, security, justice, and efficiency

Question: According to the text, which of the following would not be considered a part of the “Who” in the WH process of ethical decision-making?

Answer Options:
A. Consumers and community
B. Employees and management
C. State and federal governments
D. Communities and future generations
E. Employees and owners

Answer: C) State and federal governments

Question: Which of the following is true regarding the universalization test?

Answer Options:
A. It is sometimes called the “television test.”
B. It is based on the notion that people tend to care about what others think about them as ethical agents.
C. It is based on the premise that ethics is hard work.
D. It is based on the supposition that, as members of a community, our self-concept is tied (at least in part) to how that community perceives us.
E. It asks us to consider, before we act, what the world would be like if our decision was copied by everyone else.

Answer: E) It asks us to consider, before we act, what the world would be like if our decision was copied by everyone else.

Question: Which of the following terms refers to the many groups of people affected by a firm’s decisions?

Answer Options:
A. Shareholders
B. Claimholders
C. Stakeholders
D. Staff advisors
E. Ethics officers

Answer: C) Stakeholders

Question: Which of the following represents the idea that we should interact with other people in a manner consistent with the way we would like them to interact with us?

Answer Options:
A. The Equalization Rule
B. The Ethical Revelation Rule
C. The Reciprocity Rule
D. The Golden Rule
E. The Self-Actualization Rule

Answer: D) The Golden Rule

Question: Regarding primary values and business ethics, what does the value of efficiency include?

Answer: E) Maximizing the amount of wealth in society

Question: Regarding primary values and business ethics, what does the value of “freedom” include?

Answer Options:
A. Possessing a large enough supply of goods and services to meet basic demands
B. Having the capacity or resources to act as one wishes
C. Treating all humans identically, regardless of race, class, gender, age, and sexual orientation
D. Possessing anything that someone is willing to grant you
E. Maximizing the amount of wealth in society

Answer: B) Having the capacity or resources to act as one wishes

Question: How is absolutism different from ethical relativism and situational ethics?

Answer Options:
A. It applies utilitarianism.
B. It holds that a cost-benefit analysis should be applied.
C. It holds that whether an action is moral does not depend on the perspective of the person facing the ethical dilemma.
D. It applies virtue ethics and concentrates on the accepted values of the person at issue as well as those of the community involved.
E. It applies corporate ethics principles.

Answer: C) It holds that whether an action is moral does not depend on the perspective of the person facing the ethical dilemma.

Question: Judge Lauren decides a case before her court that has the same set of facts as a case she heard four months ago. Judge Lauren should apply

Answer Options:
A. laws enacted by Congress
B. a different state statute
C. restatement
D. precedent
E. legal realism

Answer: D) precedent

Question: Judge Terra rules on a case in her state. A case in a neighboring state has the exact same facts. Judge John, when referring to Judge Terra’s case:

Answer Options:
A. Must follow the case as precedent
B. Must follow the case as precedent, but only if the law is exactly the same in his state
C. May be influenced by the ruling but is not obligated to follow it
D. Would have to seek guidance on whether or not he must follow Judge Terra’s ruling from a higher court in his jurisdiction
E. Would need to seek guidance from a federal court in order to determine if he is obligated to follow Judge Terra’s ruling

Answer: C) May be influenced by the ruling but is not obligated to follow it