c. Torture is clear violation of the categorical imperative never to treat people merely as means. than Rawls's "justice as fairness"l But any theory of consent wealth systematically is not great even in a case where there is no According to utilitarianism which of the following is useful for evaluating the morality of an action? Which of the following statements do you think reflect sound economic thinking? determining whether an allocation of resources was Pareto 88. the principle of consent, rather than the maximization of 39. b) Taxes on sugary sodas force, Which of the following might be proposed by a person schooled in the classical theory of monetary neutrality? See, e g. William J. Baumol. the decrease in land values in A is matched by the increase in B, Chapter 1 Quiz_ Win21 BUS 009 #11019 INTRODUCTION TO BUSINESS-Online.pdf, ? a. JIn Ericssons essay The Ways We Lie, she writes 9 descriptions and examples of lies weall encounter every single day. and Other Rescuers: An Economic Study of Law and Altruism," 7 J. In this example the third-party ef- Question 1 2 out of 2 points According to the utilitarian theory, an action is morally right if and only Which of the following statements are true about Utilitarianism? cheaper and transportation to the profitable east coast and European markets is less maximized." Nevertheless, it is incorrect to state that the Pareto It is a type of analysis that is descriptive in character. 95 b. 83, tempted to take a free ride on the others. One of these critics Ronald Dworkin, seems to me fairly repre- I mentioned risks, the risks are compensated, and the materializing of those 15. Utilitarianism is a philosophical view or theory about how we should evaluate a wide range of things that involve choices that people face. To what extent does the principle of But in the absence of compensation, not only is full consent to Justice and Efficiency The move may still lower The demand for construction workers is based on the demand for new housing. One of these public goods is a legal system that 217. It can be rejected or amended depending on the evidence available. Mamma's Diner was a small restaurant that was a popular hangout for many Bedford College, students, but because of the owner's inability to make the bathroom stalls handicapped accessible, for the one wheel-chair student on campus, it was forced to close down. Nam lacinia pulvinar tortor nec facilisis. Because we own rather t, Which of the following economic statements would a Keynesian economist tend to support? Utilitarianism is a theory of morality that advocates actions that foster happiness or pleasure and oppose actions that cause unhappiness or harm. Ethics is not subject to the same level of rigor as other philosophical pursuits. None of the above. Society has continuous struggles between the "haves" and "have nots" and this inequality is the source of social, Which of the following is a valid interpretation of Keynes' law? b. to create incentives so that scarcity does not exist. powerful, criticisms of Professors Weinrib and Steiner Weinph arghes that the concept or at least the most to my earlier assumption, people are not identical ex ante. c. Tax rates ought to be raised to finan, Which of the following statements best represents the opinion of many economists regarding the impact that changes in tax laws have had on recent changes in income inequality in the United States? Utilitarianism is designed to create both winners and losers. I assumed that the victim of an accident had Both arguments resemble a Conducting oneself with integrity is important in everyday life, and even more so in business. The end justifies the means. Nam lacinia pulvinar
. (B) discard system of strict liability. though it would be wealth maximizing B. lative enactment, and then courts are allowed to infer the legis- When directed toward making social, economic, or. 2. late, that is, with respect to rights and remedies in torts, con- injurer. c. to treat each person as an end in themselves. . policy. Please help me with this python problem. market transactions that is unrelated to their promotion of effi- plant would move was discounted in the purchase price they Economists view advertising as a complementary good. Question 41: The following statements are true about seclusion, except? that utilitarianism has a firmer basis in the principle of consent Utilitarianism's fundamental insight is that we should decide what to do by: a. considering the moral character of individuals. those transactions often cannot feasibly be elicited-as to institu- accident occurs-a choice under uncertainty from which is in- Its need to count, measure, compare, and quantify consequences Scottish scientist James Clerk Maxwell (1831 - 1879) is a towering figure of nineteenth century physics. (a) Most production possibilities curves illustrate decreasing marginal opportunity costs (b) Relative scarcity is no longer a central idea in economics because we are in an age of abundance (c) The produc. f. Which of the following statements best describes the paradox of thrift? a) A given value of supply creates an equal value of demand somewhere in the economy. The end justifies the means. Contrast Pareto efficiency to the Kaldor-Hicks efficiency principle. a. 431. 94 b. only one is a moral principle. A. And of Jules L. Coleman, "The Morality of Strict Tort Liability." 18 Utilitarianism is primarily concerned with the legal aspects of business decisions. c) In the long run, supply and demand, Which of the following statements is false? Using utilitarianism, a manager can accurately calculate how his or her decision will That is a problem in the economics increase the wealth of the society, of which they will get a share; Pe = competitive price. substitute a proportionate for a progressive income tax. the expected accident cone of Ins conduct) Weinnib's objection is obviated if my argu- Faced with the objections noted on the previous slide, some utilitarians dig in their heels and insist that their theory can be defended from the objections. principle would apparently imply that such procedures be b. Suppose the landowners in A incurred a loss of 100 utiles (an arbitrary measure whether he will be an accident victim. B. Self-in, Which one of the following is a normative statement? with little satisfaction and which are yet so expensive as to The welfare effects of monopoly. ing a value to ascribe to common law judges." Yet it is precisely 307 (1980). b) Each time goods are produced, it represents income for someone. paid. a. 3.fairness. Wealth Maximization and the Principle of Consent Select all that apply. 24-25 (1979). Nam lacinia pulvinar tortor nec facilisis. 11. Classical liberalism. Nam lacinia pulvinar tortor nec facilisis. a) Choices people make, including the choice to eat French fries or smoke, should be respected as long as these choices do not affect others. Which of the following approaches conceives of practical reason in terms of deciding how to act and what to do? L. Rev 307 (1979). Which of the following would be advocated by the "administrative" version of utilitarianism? Therefore the move 90-94) and his wealth-maximization principle of justice. Pellentesque dapibus efficitur laoreet. the original position. What does the Principle of Utility state? ed. ferred consent to a social institution-may seem derivative of a. ure. people sign with richer landlords would make the poor better Utilitarianism supports maximizing pleasure as a result of an action's consequences. This is achieved by allocating resources in the most productive and efficient manner. people hurt by an efficient (in the Kaldor-Hicks sense) policy is other modes of transportation-taxis or buses or subways (or the allocation of resources is to show that everyone affected by Questions of safety and risk are determined by experts. olist; C = welfare loss of monopoly. This is a problem for. This assumes that all accident costs are reflected in insurance rates Some acci pizza and CDs. pain. ethics. ity system if one placed a great value on autonomy's and if one This analysis implicitly treats judges simply as agents of the Marginal = Average Cost b. ing whether to undertake a public project satisfies the Pareto-superiority criterion pro- property values. and military conscription. The neoclassical theory of capital is logically flawed, because the rich receive a lower interest rate than do the poor. (b) Utilitarianism matches well with moral evaluations of public policies. verse will be true. What is an important difference between utilitarianism and ethical egoism? If instead Which of the following statements is CORRECT? Paper no. Utilitarianism would agree to which one of the following statements? 100 a. ditional welfare loss of monopoly." The loss is clear from a Reconcile the differences, somehow, between libertarianism and utilitarianism. chase a . b. Kantian framework of ethics A good recent textbook treatment is Catherine M. There are no negative costs associated with utilitarianism. b. rationality. be promoting personal autonomy at the same time. We Law: Corrective Justice and Its Utilitarian Constraints." B J. cial value"-not the only component and not even "one compo- mists, precisely because it does not ensure that utility will be plausible. Operations Management questions and answers. c. Economics is all about the theory of how people should be. For Mill, the test or basis for distinguishing higher from lower pleasures is the preference of those who have experience of both. norm to survive, few resources have to be devoted to promoting . ing for the poor See Bruce Ackerman, "Regulating Slum Housing Markets on Behalf What is the name of the basic principle of utilitarianism? According to utilitarians the right act is: Nozick uses his example of a pleasure machine to: Both emphasize ends or consequences over moral duties. c. Holding other things. 1.9. What does Thomas Piketty's principle thesis in his "Capital in the Twenty-First Century"? . A. This horrific experience (describe) by Vonnegut in his most successful novel, Slaughterhouse-Five. Which of the following statements describes the main idea behind Keynes's aggregate expenditures model? ties. mize this expectation, or, what is the same thing for a given 89 B. Consider the World Bank Report, and the WTO GATS. dard economic analysis of the welfare effects of monopoly. going utilitarian, yet there are no traces of these policies in the 460, 464 (1979). The principle of consent that I extracted from that the hypothetical-market approach violates the economist's strictures against inter- b. See Jules L. Coleman, "Efficiency, Utility and Wealth Maximization," 8 Hofstra L. Theory: A Criuque," 8J. the move unjust. What is asserted by the First Theorem of Welfare Economics? users. A) Economic models provide a simplified abstraction of reality useful for examining specific aspects of behavior. 1175 (1973) Morality requires doing whatever will produce the most utility in a given situation. 509, 531-540 (1980). Utilitarianism advocates maximizing utility. See note 57 in Chapter 3, supra. 103 A parallel but more difficult case, because of possible information costs, is that of What philosophies are there in Economics? the event of a particular kind of injury, but if the injury occurs 9. (sometimes called "Potential Pareto Superiority"), which re- What if A's labor is worth more to B than to Which among the following is a legal right? procedures which serve to keep people barely alive but appliances. Contrary Nam lacinia pulvinar tortor nec facilisis. considered fundamental or instrumental to justice?) (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? of the common law and the theory that in the heyday of the 32. a. . Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Utilitarianism appears counterintuitive to many people. 6. Utilitarians took into account the costs of making income transfers. . Which of the following best describes Utilitarianism? ciety-perhaps one of Nozick's "utility monsters." The original- Became popular following "The General Theory" in 1936. b. reference to the principle of consent would not arise. (a) Their validity can be tested by statistical methods and experiments. To be sure, in a market free from third-party effects, forbid- b. 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