Question

QUESTION 1

According to Friedman, whenever managers of a corporation decide to invest in "socially responsible" causes such as vaccines for children in Africa or reducing environmental impact, they are cheating their investors. This argument is based on which ethical principle?

a.

financial freedom

b.

fiduciary responsibility

c.

utilitarianism

d.

deontology

e.

supply and demand

f.

property rights

g.

shareholder priority

h.

virtue

4 points

QUESTION 2

The UAE is an example of

a.

a Communist economy

b.

a Mixed Free-Market economy

c.

a Capitalist economy

d.

a Socialist economy

4 points

Answer 1

Question (1)
Fiduciary responsibility means the legal obligation of a person or an entity to act in the best interest of its client. A fiduciary is a person or an entity entrusted with the responsibility to take care of money or other assets of its clients.

===> b. fiduciary responsibility (ANSWER)

Question (2)

The International Herald Tribune has described UAE as "centrally-planned free-market capitalism."

The UAE is an example of

b. a Mixed Free-Market economy (ANSWER)

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