1. Milton Friedman was a strong believer in the _____________ model. He _______________ argue that a

1. Milton Friedman was a strong believer in the _____________ model. He _______________ argue that a corporate leader’s sole obligation is to make money for the company’s owners.
(a) Shareholder; did
(b) Shareholder; did not
(c) Stakeholder; did
(d) Stakeholder; did not

2. In the 1919 lawsuit Dodge v. Ford, the Dodge brothers and other major shareholders sued Henry Ford and his board of directors over nonpayment of dividends. The Michigan Supreme Court sided with _______________. Incorporation laws at the time ____________ companies to follow the shareholder model.
(a) Ford; required
(b) Ford; permitted
(c) The Dodge brothers; required
(d) The Dodge brothers; permitted

3. Which of the following historic events led to a significant change in corporation laws, permitting companies to follow the stakeholder model?
(a) The Great Depression
(b) World War II
(c) The election of John F. Kennedy
(d) The moon landing
(e) The Supreme Court’s decision in Brown v. Board of Education

4. Which of the following wrote the book Utilitarianism and believed that moral actions should “generate the greatest good for the greatest number”?
(a) Milton Friedman
(b) John Stuart Mill
(c) Immanuel Kant
(d) None of the above

5. Which of the following believed that the dignity of human beings must be respected, and that the most ethical decisions are made out of a sense of duty or obligation?
(a) Milton Friedman
(b) John Stuart Mill
(c) Immanuel Kant
(d) None of the above

 

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