Smith was the economist who advocated what economic theory

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Reference no: EM132301641

1. Smith was the economist who advocated what economic theory?

1) Communism

2) Capitalism

3) Machine-analogy

4) Socialism

2. Smith believes that our actions are motivated by what?

1) Those for whom we truly care

2) Our humanity

3) Our self-love, or self-interest

4) God

5) The creator of justice

3. Ciulla states "when it comes to work, __________ has freedom of choice, but not everyone has __________."

1) a white person, good connections

2) everyone, the knowledge of the choice

3) everyone, good connections

4) everyone, viable options

5) the U.S citizen, the privilege of calling the U.S. their home

4. Rawls thinks justice should be conceived as:

1) a virtue.

2) a theory with little possibility of application.

3) fairness.

4) the original position.

5) compensation for labor completed.

5. Poverty at the absolute level, according to Singer, means that:

1) people do not always get the nutrition they need.

2) one's life expectancy is much lower.

3) the literacy rate is 60 percent lower.

4) the infant mortality rate is drastically high.

5) all of the above are true.

6. Hayek believes that the market should:

1) be absolutely free.

2) be subservient to the needs of the society.

3) compatible with justice, but free.

7. According to Friedman, when a CEO spends money on social concerns, he or she is:

1) spending other people's money rather than his or her own

2) wasting his or her money

3) being a hero

4) doing the best he or she can, given the situation

8. In Friedman's words, because the corporate executive (CEO. is chosen by the stockholders, he:

1) "should have all of the power in all circumstances"

2) "is an agent serving the interests of his principal (the stockholders."

3) "should keep the stockholder in mind when making difficult decisions"

4) "is the top employee, and they are the most important customer"

9. The stakeholder, according to Stone, is different from the stock- or shareholder, in that

1) the shareholder has fewer responsibilities to management

2) the notion of stakeholder applies only to real-estate

3) the stakeholder is a broader concept that includes other groups in the community

4) the shareholder is of a more altruistic nature (he shares what he holds.

Reference no: EM132301641

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