: a. Henry Villard of the Northern Pacific Railway b. John Rockefeller of Standard Oil c. Philip Armour of Armour Mea
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1
An example of an entrepreneur who extracted money from the government, erected shoddy enterprises, and ran them into the ground:
a. Henry Villard of the Northern Pacific Railway
b. John Rockefeller of Standard Oil
c. Philip Armour of Armour Meatpacking
d. Cornelius Vanderbilt of the New York Central
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- Which financial scandal was associated with the presidency of Warren G. Harding? a. The Teapot Dome scandal b. The Parmalat scandal c. The Edison Power scandal d. The Vivendi scandalCase Study #2: Chapter 5 Business Analysis - Harry, a friend of yours, is taking a course in economics and has become confused by some of the terminologies because of the way people commonly use the same words. The economics professor says investment occurs when companies buy equipment and build factories. Yet Harry has always heard people talk about investing as a method of saving when they put money in the bank or purchase securities. He's confused by these dissimilar uses of the word and has asked you to explain. After asking for your help, Harry happily states that there's one thing he does understand perfectly about what the econ prof says, and that is "savings equals investment." Since investing in stocks and bonds is also saving money, it's obvious that savings equal investment! Write a brief explanation to help Harry out.Corporate Social Responsibility In his book Capitalism and Freedom, economist Milton Friedman wrote on page 133: “There is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits so long as it . . . engages in open and free competition, without deception or fraud.” Required: Explain why you agree or disagree with this quote.
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