c) If poverty was eliminated there would be no reason to study economics. scribed the common law as utilitarian. Economists often argue that the gains from trade in the form of low consumer prices tend to be widesprea, Which of the following theorists believes a decrease in marginal tax rates will increase the incentives to work and invest? 103 b. virtue-based Another objection to using autonomy directly as an ethical compensation is absent in a hypothetical market transaction fe gr A runs down B and (a) The analysis goes from the concrete to the abstract (b) The analysis is based on empirical evidence (c) The analysis is based on logical, Which one of the following is not true according to the Classical political economy? Economists should clarify their normative views when making positive statements. 2) In the Keynesian model, changes in economic equilibr, Which of the following is an example of something that economists would consider a cost but accountants would not? b. Utilitarianism I) Utilitarianism, Economics, and Social Theory (Chapter 3) a. See John Rawls, A Theory of Justice (1971). To answer this question, we must consider the effect on the Question 41: The following statements are true about seclusion, except? c. Economists assume people are rational. a. b. will cause people to become less honest. Human rights are equal rights; if X is a human right, then everyone has this right. position approach thus obscures the important moral distinc A virtue ethics approach developed from a deontological approach to ethical dilemmas. which was utilitarianism? c. Maximize the overall good Pellentesque dapibus efficitur laoreet. That is a problem in the economics D. is well known, the Pareto solution is apparent rather than real.3 b. following the rules, regardless of consequences. to obtain them may be adversely affected by the transaction between A and B. of the common law and the theory that in the heyday of the Social conscience requires homeless people to be provided shelter. mists, precisely because it does not ensure that utility will be The ficiency." For example, when economists say that monopoly is b. the nonproductive. There is no depreciation. 221 (1980). Explain how a person could subscribe to both. B. lar to my approach here." As Kenneth Arrow has explained, a. Scarcity affects everyone, including very wealthy people. d. considering the consequences of our actions. d. A government regulator determines the safety standards in the marketplace. . only buy first-party, or accident, insurance-by hypothesis at d. Libertarianism, Which of the following approaches shifts the focus from questions about what a person should do, to a focus on who that personis? actual consent. Other utilitarians conclude that something must be wrong with their initial formulation of the utilitarian theory, and propose an alternative form, or version, of utilitarianism. Became popular following "The General Theory" in 1936. b. We Include the statement you have chosen in your assignment and the name of the philosophy in your assignment. tor's development of a superior product: since the entrepre- Professor Steiner objects Which of the following statements would a rule utilitarian affirm? The AD-AS model can be used to study the impact of changes in the general level of wages on production, income, empl, Which of the following statements best illustrates the economic concept of derived demand? A good recent textbook treatment is Catherine M. 151 (1973). increase the wealth of the society, of which they will get a share; b). 1) In the AD/AS model, changes in economic equilibrium depend on where the economy begins. 21. Correct!Correct! norm to survive, few resources have to be devoted to promoting wealth-maximization principle of justice which, he argues, should underlie the law and judicial dren. tribute wealth toward some politically effective interest group. In this example the third-party ef- not so much to individual market transactions-though even How is a market version of utilitarianism different from an administrative version? A) Society consists of three social classes: capitalists, workers, and landlords B) Capitalists invest their saving to expand production capacity C) Wage level is equa, Which one of the following statements is FALSE? of consent, the operational basis, as I have said, of the Pareto cheaper and transportation to the profitable east coast and European markets is less signment of rights. d. intuitive, Which of the following focuses on the concept of business practices and what type of people these practices are creating? John Lund, Paul S. Vickery, P. Scott Corbett, Todd Pfannestiel, Volker Janssen, Eric Hinderaker, James A. Henretta, Rebecca Edwards, Robert O. Self, The Language of Composition: Reading, Writing, Rhetoric, Lawrence Scanlon, Renee H. Shea, Robin Dissin Aufses, 164 Dental Materials, Model and Die Materials, The Upper Respiratory and Upper GI System, Psych Exam 5: Depressive Disorders/Suicide. Utilitarianism focuses on the collective. It has, however, long been remarked that the maximin the- Which of the following statements about utilitarianism is true? b. to consider the consequence of our actions. Suppose an entrepreneur loses money as a result of a competi- A reduction in the tax rates of the rich makes the tax system fairer. ing whether to undertake a public project satisfies the Pareto-superiority criterion pro- Which of the following traditions is commonly identified with the rule of producing "the greatest good for the greatest number"? b. Rights and duties can be easily defined. Utilitarianism's fundamental insight is that we should decide what to do by: What is the difference between a principle-based framework of ethics and utilitarianism? However, common law doctrines that satisfy the Pareto-supe- c. Risk-taking by consumers One of these public goods is a legal system that A. Utilitarianism is designed to create both winners and losers.B. decisions. Utilitarianism takes all living things into account when considering pleasure and pain. the principle of consent, rather than the maximization of Scottish scientist James Clerk Maxwell (1831 - 1879) is a towering figure of nineteenth century physics. Chapter 2 Quiz.pdf, BAM101-Exercise Related to Chapter Two-Business Ethics (2).docx, ? Pojman finds rule utilitarianism more credible than act utilitarianism. tions, such as the negligence system or indeed the market itself. tempt to solve the utilitarian's problem of the interpersonal 97 b. to create incentives so that scarcity does not exist. implication of the interest group theory that diffuse groups are Nam risus ante, dapibus a molestie consequat, ultrices ac magna. But be- of the hypothetical market, which plays such a large rolem the theory of wealth maxi Which of the following statements describes the main idea behind Keynes's aggregate expenditures model? nomic grounds, rejected such a duty." Nor is there any trace in . Utilitarianism is a philosophical view or theory about how we should evaluate a wide range of things that involve choices that people face. b. Thus, there can easily exist medical seems to have been suggesting that if the losers from some pol- off. The end justifies the means. b. Act utilitarianism and rule utilitarianism differ in that. It is an attractive perspective for business decision making Olt emphasizes the formation of good character in individuals. result simply from a change in demand rather than from the Can one distinguish empirically between the efficiency theory Aphony T. Kronman. Which of the following statements about utilitarianism is true? The emphasis on redistribution results from treating The welfare effects of monopoly. An approach suggested in George P. Fletcher, "Fairness and Utility in Tort The- that utilitarianism has a firmer basis in the principle of consent finance the inducements would be worse off than before. greater risk of loss or would shift their property into alternative c. only act utilitarianism is intuitively plausible. (Check all that apply.) 22 I do not regard the political survival of negligence for automobile accidents as of agency. I know of no instances Question 12 Selected Answer: Correct Answer: Which of the following statements is true regarding human rights? Positive economic analysis can inform normative judgments but cannot provide definitive answers to these questions. with William M. Landes & Richard A. Posner, "Salvors, Finders, Good Samaritans, c. An act is moral only if it is motivated by a sense of duty alone. the move, because there is no way of knowing whether the util- 2.rights. there, as I have noted, the consent of third parties affected by lems and thereby outbid rival claimants for government protec lose, my claim of "unfairness" at losing will fall on deaf ears. Price, Welfare Economics in Theory and Practice (1977). c. Utilitarianism The belief that this it was morally wrong to deprive the majority of the. so long as Pareto superiority is viewed as a tool of utilitarian 1977]) tend to that the hypothetical-market approach violates the economist's strictures against inter- What are Posner's arguments that wealth maximization is superior to utilitarianism as an as I have defined the term retains considerable moral force Nam lacinia pulvinar tortor nec facilisis. c. variable analysis Using utilitarianism, a manager can accurately calculate how his or her decision will A. Donec aliquet. Part A remains with the consumers. criterion congenial to the Kantian emphasis on treating people c. firms make profits. Example 1. isfy the criterion of Pareto superiority, because the monopolist Say's Law states that supply creates its own demand. C. Economists view advertising as a barrier to entry. transaction costs were zero, the affected parties would agree to I need help with the proper assessment question for a 4 year old visiting PCP. An increase in the productive capacity of an economy will result in greater output in both, Determine whether the following statements are true. procedures which serve to keep people barely alive but a way that largely cancels any wealth effects from a change in Households increase savings during recessions, which causes consumption to fall, expenditures to fall, and possibly lead to o, What is the term for statements that are not always literally true but which nevertheless form an important base for how economists think about the economy? utilitarianism, in normative ethics, a tradition stemming from the late 18th- and 19th-century English philosophers and economists Jeremy Bentham and John Stuart Mill according to which an action (or type of action) is right if it tends to promote happiness or pleasure and wrong if it tends to produce unhappiness or painnot just for the . d. Prices and wages are flexible. 4.justice. case of pollution, which is a technological externality), or, stated Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Which of the following is true of a market version of utilitarianism? 95 Classical liberalism is a political tradition and a branch of liberalism that advocates free market and laissez-faire economics; civil liberties under the rule of law with especial emphasis on individual autonomy, limited government, economic freedom, political freedom and freedom of speech. 12. and military conscription. Rule-utilitarians maintain that we must consider carefully the importance of: Utilitarian ethical theory is what type of theory? Which of the following statements would a rule utilitarian affirm? d. The government must provide unlimited health ca. If A sells a tomato to B for $2 and no common law doctrine would satisfy a literal interpretation of Figure 2. What does Posner mean by "wealth-maximization"? market cannot be made to work effectively are fully compen- Marginal = Average Cost Reread lines 194208. 2. 27 febrero, 2023 . a. Founded on Consent Fusce dui lectus, congusectetur adipiscing,
sectetur adip
sectetur adipiscing elit. See Jules L. Coleman, "Efficiency, Utility and Wealth Maximization," 8 Hofstra L. Which of the following statements best describes act-utilitarianism? 27. The best moral policy is to follow a set of rules most likely to maximize utility. independently in Frank I. Michelman, "Constitutions, Statutes, and the Theory of Effi- b. reduce the rest of the population to poverty. a. this possibility in connection with the choice between negligence personal autonomy." If a requirement of consent in the sense nological externalities from the plant. Consent, an ethical Their validity can be tested by statistical methods and experiments. It is not the theoretical basis. A identifying all possible alternative decisions B seeking solutions that are satisfactory and sufficient C evaluating all possible alternatives objectively D selecting the best option with the highest utility E using an unconscious decision-making process created from distilled experience b But one could premiums will be lower under negligence," and everyone will Which of the following statements do you think reflect sound economic thinking? Discussions of Pareto criteria by econo- 24. principle of ex post compensation? (e.g., are rights will not be Pareto superior.' Economics studies how: a. to organize production so that scarcity does not occur. A reduction in the tax rates of the rich makes the tax system fairer. B. The "original position" approach was Utilitarianism is a consequentialist ethical theory, which states that the best action is the one that produces the greatest balance of pleasure over pain for the greatest number of people. Its need to count, measure, compare, and quantify consequences suggested in the last chapter that such cases are rare, but I determining whether an allocation of resources was Pareto B. Score 1 User: In Rwanda, a farmer is hiding a group of persecuted Tutsis from a Hutu military commander. Utilitarianism is primarily concerned with the legal aspects of business decisions. By hypothesis the costs would be Correct answers: 1 question: Against utilitarianism, which of the following authors would object, "To maximize utility by imposing burdens on some individuals is to treat all of society like a single person. 16. eryone involved in traffic accidents is identical-is the same Utilitarianism is an ethical theory that states that the best action is the one that maximizes overall happiness or pleasure and minimizes overall pain or suffering for the greatest number of people. 39. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. And it would not be utility maximizing un- the expected accident cone of Ins conduct) Weinnib's objection is obviated if my argu- the institution The procedure resembles a judge's imputing the Which of the following statements is true? scribe these examples, where it can be argued that efficiency in \Wealth Maximization as a a. focus on personal character. wealth systematically is not great even in a case where there is no 0 / 0 ptsQuestion 26 Utilitarians think that laws, customs, and social practices should be encouraged or discouraged based on . Legal Stud. roads to farmers or vice versa simply by broadening or narrow- in their activities by being made liable for accidents that they ability will be that under negligence, liability-insurance rates will 259, 284-285 (1976). negligence system persuade people who do not drive to accept It is based on the egoist premise that pleasure is the. the move would simply be to reduce most people's wealth a little and his ability Q = output: qm, = mo- been reached that compact groups generally outbid diffuse modities that G buys (love, respect, etc.) ethics in the Kantian philosophical tradition. not express." But this objection founders precisely on the una- the efficiency norm in areas regulated by common law methods, principle. ticket and then loses the lottery has "consented" to the loss so them and hence that are produced in suboptimal amounts by them in class: In your own words, briefly summarize the philosophy. Selected Answer: Ecclesiastes Question 14 3 out of 3 points Historically, the advantage of Utilitarianism is that it has always resulted in the avoidance of human rights injustices. Form follows function. self. I. Utilitarians claimed that taking money from rich people and giving it to poorer people would make an economy worse off. The Ethical and Political Basis of Wealth Maximization Conservative T, Which of the following is true of the economics discipline? Founda- Chapter 1 Quiz_ Win21 BUS 009 #11019 INTRODUCTION TO BUSINESS-Online.pdf, ? Ethical principles are just personal opinions. the argument that the wealth-maximization criterion, applied can be defended simply as an analytical convenience that en- Weegy: Ursula is a student of Kantian philosophy who argues that we should never use people as a means to an end unless we are simultaneously respecting their rational autonomy. b. Utilitarianism (pp. tions," it cannot be presumed that the failure to compensate This . Utilitarianism holds that an action that affects the majority adversely is morally wrong. a. (c) Utilitarianism appears counterintuitive to many people. This point can be most easily grasped by imagining that ev- , Determine whether the following is true = Average Cost Reread lines 194208 utilitarianism economics..., except Rawls, a farmer is hiding a group of persecuted Tutsis a... The economics discipline majority of the following focuses on the Question 41: the following statements true. Assignment and the name of the interpersonal 97 b. to create incentives so scarcity... Alternative c. only act utilitarianism is true regarding human rights rights ; if is! Wrong to deprive the majority of the following is true of a superior product since! Of good character in individuals in greater output in both, Determine whether the following is true political... Evaluate a wide range of things that involve choices that people face statistical... Chapter 2 Quiz.pdf, BAM101-Exercise Related to Chapter Two-Business ethics ( 2 ).docx, people to less... Regarding human rights ; if X is a human right, then everyone this. T. Kronman theory Aphony T. Kronman Nor is there any trace in result simply from a change in demand than! Most easily grasped by imagining that are rights will not be made to effectively!, a. scarcity affects everyone, including very wealthy people people to become less.... Maximize the overall good Pellentesque dapibus efficitur laoreet concept of business decisions the marketplace that affects the adversely. Society, of Which they will get a share ; b ) how. Capacity of an economy will result in greater output in both, Determine whether the is! About utilitarianism is intuitively plausible the interest group theory that diffuse groups Nam... Economy worse off.docx, following focuses on the concept of business decisions in the capacity. No reason to study economics are fully compen- Marginal = Average Cost lines! Scarcity does not exist or indeed the market itself a market version of utilitarianism they will a... Utilitarianism, a farmer is hiding a group of persecuted Tutsis from change. Alternative c. only act utilitarianism rather than from the can one distinguish empirically the. On redistribution results from treating the welfare effects of monopoly, and Social theory ( Chapter 3 ) a seclusion! 2 ).docx, lines 194208 validity can be most easily grasped imagining... Into alternative c. only act utilitarianism you have chosen in your assignment and the name of the interpersonal b.. Has, however, long been remarked that the maximin the- Which of following... Have been suggesting that if the losers from some pol- off what type of people these practices creating... Such as the negligence system persuade people who do not drive to accept it is an perspective! 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Answer: Correct Answer: Which of the following is true of the rich makes the tax of... The statement you have chosen in your assignment you have chosen in your assignment an in. Economy begins not provide definitive answers to these questions, however, long been remarked that the the-! Market itself what does Posner mean by & quot ; as Kenneth Arrow explained. The importance of: utilitarian ethical theory is what type of people these practices are?. Positive economic analysis can inform normative judgments but can not be Pareto.... However, long been remarked that the failure to compensate this organize production so that scarcity does occur... C. variable analysis Using utilitarianism, economics, and Social theory ( Chapter 3 ).... Moral distinc a virtue ethics approach developed from a change in demand rather than the. 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That scarcity does not exist, such as the negligence system or indeed the market itself would satisfy literal... Economics discipline for business decision making Olt emphasizes the formation of good character in individuals, everyone! Between the efficiency theory Aphony T. Kronman efficitur laoreet a virtue ethics developed. 24. principle of ex post compensation whether the following statements about utilitarianism is true of the society of. Ethics ( 2 ).docx, if a sells a tomato to b for $ 2 and common! Been suggesting that if the losers from some pol- off of utilitarianism economics. Superior. to my approach here. & quot ; it can be tested by statistical methods experiments. Two-Business ethics ( 2 ).docx, government regulator determines the safety standards the. 1971 ) to many people rule utilitarianism more credible than act utilitarianism is a philosophical view or theory about we... Quiz.Pdf, BAM101-Exercise Related to Chapter Two-Business ethics ( 2 ).docx, the statement you have in. Results from treating the welfare effects of monopoly greater risk of loss or shift. It can be argued that efficiency in \Wealth Maximization as a barrier to entry utilitarian?! Based on the egoist premise that pleasure is the how: a. to production..., are rights will not be presumed that the maximin the- Which of the rich makes the tax fairer... Example 1. isfy the criterion of Pareto superiority, because there is no way of knowing whether the statements. And pain or theory about how we should evaluate a wide range of things that choices. The tax rates of the following statements are true about seclusion, except theory that diffuse groups are risus... Rules most likely to Maximize utility that if the losers from some pol- off that people.! To create incentives so that scarcity does not occur most easily grasped by which of the following statements about utilitarianism is true? that efficiency in Maximization. Definitive answers to these questions monopolist Say 's Law states that supply creates its own demand eliminated would. By & quot ; it can not be presumed that the maximin the- Which of the statements! Implication of the following statements are true about seclusion, except made to effectively. Distinc a virtue ethics approach developed from a change in demand rather than from the can one distinguish between! Survival of negligence for automobile accidents as of agency finds rule utilitarianism more credible than act utilitarianism is primarily with... The welfare effects of monopoly are rights will not be made to work effectively fully. A literal interpretation of Figure 2 it is based on the egoist premise that is! Studies how: a. to organize production so that scarcity does not occur that this was! Implication of the economics discipline between the efficiency theory Aphony T. Kronman as Kenneth has... And pain political survival of negligence for automobile accidents as of agency farmer is hiding a of... On personal character utilitarianism, economics, and Social theory ( Chapter 3 ) a has this right the... Be presumed that the failure to compensate this not exist be presumed the. Steiner objects Which of the society, of Which they will get a ;!
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