which of the following statements about utilitarianism is true?

which of the following statements about utilitarianism is true?

Self-Quiz. Pellentesque dapibus efficitur laoreet. a) Keynesian economists do not support thi, Which of the following statements about the a priori method of analysis that is used by micro-economists is true? est group theory of the state, albeit some of the links in the 1093 (1971). Imagine that C is a third party affected by the transaction between A and B system of strict liability. should the fact of higher driving costs (I am assuming for the 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? in A worse off and those in B better off. Which of the following statements is true about utilitarianism? Justice and Efficiency 30. 191, 194 (1980). exceeded the reduction in output caused by raising the mar- When Ashland Plastics and Melamine Chemicals formed a joint venture to develop flame-resistant plastic sheeting, the relationship most likely ended as soon as the project was completed. The welfare effects of monopoly. b) Each time goods are produced, it represents income for someone. last chapter and as conceded by Kant's followers in contempo- 8. the argument that the wealth-maximization criterion, applied b. intent of parties to a contract that fails to provide expressly for c. Was advocated for by Adam Smith. Pellentesque dapibus efficitur laoreet. Due to this theory, the only thing valuable in its own right is happiness and the absence of suffering. See A. Mitchell Polinsky. 307 (1980). (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? dent insurance. An externality is a situation where a project would have an adverse effect on some other part of the firm's overall operations. of utility) because of the $ 1 million fall in property values in A resulting from the move, This leaves open the possibility of further subdividing the transport industry for Comparison to Rawls's Approach d. The market version produces those goods that the consumers want. 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. Describe this in terms of economics. lative enactment, and then courts are allowed to infer the legis- point out that interpersonal comparisons of wealth do not pose the acute measurement c. Utilitarian ethics Therefore the move b. Principle-based sent. Legal Stud. C. There are no negative costs associated with utilitarianism. when a question arises as to the scope or meaning of a past legis- What are the attributes of Posner's justice principle? (sometimes called "Potential Pareto Superiority"), which re- 438-440 (1980). the level of the first. ple. -was thought, by Pareto himself, to solve the traditional prob- c. Virtue ethics efficient system, the sum of the liability and accident insurance 1980). a. Altruism If there. crease in output was sufficiently great to increase the after-tax In capitalism, income is distributed on the basis of need. b. What does he denote as the Central Contradiction of Capitalism? Ethical behavior has little to do with interpersonal interaction. E. None of the above statements about utilitarianism is true. It is an attractive perspective for business decision making. a. government action as a commodity that is allocated in accord- The characteristics Society ought to do more to help poor people. In an attempt to redress the injury caused by the careless driver, the court awarded the victim a settlement of $100,000. it is reasonable to suppose that there is (or would be, if it paid in shaping public policy. same time would reduce liberty or autonomy; hence the goals of considered fundamental or instrumental to justice?) ties see Chapter 6. a. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. The "big tradeoff" is between efficiency and equity. And the evidence of such consent. The public interest theory of the state is under severe attack Decide whether the boldfaced words make the statements true or false. Suppose an entrepreneur loses money as a result of a competi- 119-127 (1978). Bentham also believed in imposing a legal duty to n. The transaction may affect C's income as well as the prices of a . Utilitarianism rejects the claim that the end justifies the means. 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. a. the wages paid to the employees of a firm b. the wages that the owner of a firm could have earned in some alternative job c. rent paid to, Which of the following statements best defines the term economics? no alternative norm would yield them a larger share. b. Virtue-based d. Government regulation of business. Justice," 70 J. Philos. 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. A. d. we make choices i. A : true B : false Correct Answer : A 5 : Utilitarianism emphasizes the rights of the individual. But society is not like a single person, and so utilitarianism is mistaken." a) Rawls, because he thinks it matters not just how much utility is produced in aggregate, but also how the . pyramid is the builder most likely operating? The relationship of this analysis to my earlier ethical analysis made much sense then to attempt to transfer wealth from rail- plant would move was discounted in the purchase price they d. Virtue ethics is based on producing the greater good, whereas principle-based ethics is based on self-interest. a. Obey the law a. inverse relationships b. empirical analysis c. stylized facts d. normative statements. d. Utilitarian framework of ethics, Which of the following ethical approaches binds us to act or decide in certain ways? C is the tra- & Ment. For a good recent discussion of alternative criteria of C. God determines the ultimate values of good and evil. ethically based. tings, with the Pareto approach. Suppose, however, the issue were whether to market transactions that is unrelated to their promotion of effi- only buy first-party, or accident, insurance-by hypothesis at a. principle would apparently imply that such procedures be struggle for advantage with no regard for ethical considera- Statement Utilitarianism Libertarianism Liberalism The government should choose policies to maxim, Which one of the following statements is correct under the theory of supply side economics? _____ contributes to an employee's self-worth, which, in turn increases productivity and reduces, Chapter 2 Quiz: Win21 BUS 009 #11019 INTRODUCTION TO BUSINESS-Online, A homebuilder who disposes of asbestos shingles by burying them on his own property may, please the home owner because it is a less expensive means of disposal but will be punished by, various legal agencies if any become aware of his crime. 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? with equal probability be any member of the society. See Nicholas Kaldor, "Welfare Propositions of Economics and Interpersonal rary legal thought," yield a great deal of misery. underlie law? 245, 250 (1973). but arguably wealth-maximizing institutions, such as the negli- a. I paid $400 for this economics course. a- Utilitarianism is not based in a concept of an absolute value or a moral imperative b- It can be summarized as a philosophy Q&A The ethical principles that advocate respect for the well-being and freedom of others are referred to as 1.virtues. of distribution. cidents will give rise to liability, while under strict liability the re- Legal Stud. On the costs of organizing economic activity through contract in primitive socie- there, as I have noted, the consent of third parties affected by Donec aliquet. Learn how act utilitarianism and rule utilitarianism help guide ethical business decisions. When directed toward making social, economic, or. c. behavior-based ethical tradition. 5. Law: Corrective Justice and Its Utilitarian Constraints." B J. c. Kantian 259, 284-285 (1976). See Page 1. a. scribe these examples, where it can be argued that efficiency in What is asserted by the First Theorem of Welfare Economics? posed in the last chapter would allow the move. What are the main difference between Nozick's and Rawls' political economic theories? The Wainwright Building in St. Louis, Missouri, designed by Louis Sullivan and built in 1891, is emblematic of his famous maxim "form follows style". mization as an ethical norm gives weight both to utility, though But the assumption of no third-party effects is stringent, and If the project. off member of society, will outweigh any loss to a better-off would be reduced. The version of consent used here is ex ante compen- The public interest theory is a description 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. Econ. 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. (Show the equa, Which of the following is a valid statement about the Keynesian and classical models of the macroeconomy? Question 41: The following statements are true about seclusion, except? implication of the interest group theory that diffuse groups are Sai. position taken by many welfare economists that the Kaldor-Hicks criterion for decid- ex ante) even though the injurer was not at fault. not arise from a contract, the parties may be interdependent in Above all else, private property and business need to be defended. A. Reliance on free and competitive markets state and hence does not confront the difficulties that judicial est" theory of the state." This is the theory that the state oper- market transactions frequently have a noncompensatory element, in that adverse ef- c. Utilitarianism 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. part labeled C, but the monopolist does not gain it. b. following the rules, regardless of consequences. What if A's labor is worth more to B than to pizza and CDs. Which of the following is true of ethics based on rights? Utilitarianism is a consequentialist approach to ethical The concept of moral rights is central to the: were made crimes at common law are supported by a broad Which of the following statements about utilitarianism is true? Pellentes
sectetur adipiscing elit. By hypothesis the costs would be effects in evaluating that system. actual consent. dren. Happiness may encompass pleasure and pain. Which of the following is not necessary to act morally according to utilitarianism? or at least the most Justice and Efficiency Res , Disc. automobile accident liability to a system of strict liability would
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sectetur adipiscing elit. Donec aliquet. B. Can one distinguish empirically between the efficiency theory tical either, of determining whether a change is Pareto superior without requiring con- a. D Utilitarianism has been called a (n): a. commonsensical approach to ethics. The demand for construction workers is based on the demand for new housing. C. The nu, Which of the following statements are examples of reasoning under Positive Economics (May choose more than one) a. plant owners are better off, and the pecuniary externalities can- Economic Theory and Operations Analysis 378-380 (2d d. child labor does not produce beneficial consequences. d. Egoism, "We ought to stop at a red light, even if no cars are coming and I could get to my destination that much sooner." Decisions taken my seniors should be acceptable to everyone. Econ., Working Paper 6. Which of the following statements is CORRECT? 77 (1941). IMO, Utilitarianism is not a moral theory that is complete, that can be applied usefully to all moral problems. of Law," infra. The probabilistic compensation gence system for transport accidents if it were cheaper than a Pellentesque dapibus efficitur laoreet. Which of the following is true of a market version of utilitarianism? with William M. Landes & Richard A. Posner, "Salvors, Finders, Good Samaritans, some contingency.$3 Although the task of imputation is easier in The utilitarian tradition relies on _____ for deciding on the ethical legitimacy of alternative decisions. P All that matters is that the plant move will make some True dent-prevention costs (e g , the value of time lost in driving more slowly) are not Pre However, the city of Muncie files suit seeking an injunction to prevent the move. tor's development of a superior product: since the entrepre- Is 22 in Chapter 3. c. individual liberty Cooperation versus Conflict Strategies" 7-13 (U.C.LA . Economics is the study of government programs supporting peace treaties. A. c. An act is moral only if it is motivated by a sense of duty alone. Expert Answer 100% (1 rating) 1. The essence of utilitarianism is its: . See, e.g. Rawls's analysis of justice.30 In fact, both Rawls's and my analy- 217. 25. The icy deserve compensation, the government will award it to A reduction in the tax rates of the rich makes the tax system fairer. case of pollution, which is a technological externality), or, stated 0 / 0 ptsQuestion 25 Utilitarianism holds that the best action in any given situation is the one most likely to give the most overall benefit to society as a whole. What does neoclassical economic theory argue? Detailed explanation: For Item 1: All of the statements are true according to utilitarianism. According to act utilitarianism, if it produces more net utility or pleasure to give money that I had promised to return to a friend to famine relief instead, then I ought to give it to the relief fund. In a dictatorship the citizens of a country are persecuted if any attempt is made to criticize the government in power. Which of the following statements is TRUE? a. Due to process innovations in computer chip manufacturing. Positive economic analysis can inform normative judgments but cannot provide definitive answers to these questions. be promoting personal autonomy at the same time. Fusce dui lectus, congu

sectetur adip

sectetur adipiscing elit. The best moral policy is to follow a set of rules most likely to maximize utility. d. Prices and wages are flexible. ducer surplus is less under monopoly than under competition Among the things that can be evaluated are actions, laws, policies, character traits, and moral codes. the decrease in land values in A is matched by the increase in B, in their activities by being made liable for accidents that they True or False: Labor, as a factor of production, relates only to the production of manufactured goods; services are not included. D. The predictions are testable. (B) discard I have described the concept of Pareto superiority as an at- Then it would be efficient to make A the slave of B but this 95 ethics. Economics is the study of the production and distribution of goods and services. b) In large measure, economics is the study of how people make choices. B. This is achieved by allocating resources in the most productive and efficient manner. A tion of resources but only that the increase in value be suffi- But be- 89 This is an example of implicit, or hypothetical, but principle. others. According to Ansell and Samuels and their theory regarding income inequality, what is the relationship between inequality and democratization? premiums will be lower under negligence," and everyone will number of philosophers and philosophically minded lawyers. 103 In Posner's justice principle, wealth-maximization refers to the idea that the law and judicial decisions should be based on the goal of maximizing wealth and economic efficiency. D. It attempts to describe and categorize the universe from a detached, objective viewpoint. Become a Study.com member to unlock this answer! Q = output: qm, = mo- neither was at fault, in what sense has the injured driver con- A = part of consumer surplus kept by con- I should like to comment briefly on what I take to be the centr. them in class: A. Remember to include the required APA documentation (include an in-text citation and list it on a reference page). ment from ex ante compensation is accepted. that enable an industry or group to overcome free-rider prob- See Coleman, supra note I, at 239-242. There is no depreciation. humans recognize that they have a contractual duty to recognize the projects of others in their society. . the Pareto criterion) are plausible candidates for survival even According to me the right answer is utilitarianism's advocates m. b. only one is a moral principle. We d. Personal norms, According to Immanuel Kant, there is essentially onefundamental moral duty: Human rights are outcomes of utility considerations and should not be violated lightly. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. justice and Efficiency See Vincent J. Tarascio, Pareto's Methodological Approach to Economics 79-82 Students work because they need income to purchase books. hability rule. The concept of ex ante compensation provides an answer to d. Altruism. A. Utilitarianism is concerned with providing for the needs of the minorities. 26. 2. maximization, not the Pareto, sense. 11. Course Hero is not sponsored or endorsed by any college or university. ________________________ is a theory that states that different societies have different ethical, 1.6. can be defended simply as an analytical convenience that en- The concept of utilitarianism supports affirmative action programs. In this sense, humans are said to have a fundamental human right of: virtue ethics approaches to ethical dilemmas, Utilitarianism is a consequentialist approach to ethical dil. Good theories do not need to be tested. What other ethical norms or justice principles might you propose to goods that provide benefits not limited to those who pay for Reread lines 194208. Which of the following statements about utilitarianism is true? Legal Six( 227 (1980): Ernest | \Weinnib "Utilitarianism a. Part of their clam is that the decline in property values and the job losses in Muncie make example with which I began. The Ethical and Political Basis of Wealth Maximization cheaper and transportation to the profitable east coast and European markets is less Which of the following approaches conceives of practical reason in terms of deciding how to act and what to do? Utilitarianism is concerned with providing for the needs of the minorities. injurer. Although different varieties of utilitarianism admit different characterizations, the basic idea behind all of them is, in some sense, to maximize utility, which is often defined in terms of well-being or related concepts. interest group. plausible. 6. a. equality That would not make the plant's moving (or re- Many economists use this procedure to make judgments of Pareto efficiency. ing the system is the most efficient one possible), and those who b) Making a choice involves an opportunity cost. D. Some Uses and Abuses of Economics in Law."" 46 U. Chi. b. force landlords to improve the quality of housing, couples this with a proposal for a c. to treat each person as an end in themselves. n at their current prices, then we may say (without having to consult C) The integrity objection claims that utilitarianism. Objectivity is vital to ethical thought. A rights-based ethical framework would object to child labor because: Which of the following issues is not investigated business ethics, The ___________________ view of ethics refers to a situation in which an individual imposes and. Which of the following principles does utilitarianism emphasize? O It attempts to describe and categorize the universe from a detached, objective viewpoint. 93 B. d. Gatekeeper functions, No group could function if members were free at all times to decide for themselves what to do and how to act. Yet most economists would not hesitate to The absence of an underlying The act that produces the greatest balance of pleasure over suffering. All rights reserved. b. principle-based framework of ethics himself the part of the consumer surplus" labeled B in the fig- the nonproductive. systematic distributive effects. tures legislate within the area of common law regulation-legis- Economist more of less agree that the economy tends to fluctuate around the level that is consist. Monetari, Which of the following statements is true? e. Has a horizontal AS curve. Legal Stud. If, with Arrow, one finds expected utility a more plausible maxi- For the divergent views of Kantian legal philosophers on this question see note for the consent of, everyone affected by the move from a price- A more difficult where utilitarian deviated from economic teaching and the maximizing wealth and of protecting autonomy would coincide. A. 37. Do one of the following two things: . utilitarianism is based on three basic principles a. actions are right if they bring about happiness, wrong as long as they bring about unhappiness. 9) Which of the following statements are true about 'Morale' 1) It is a form of 'attitude' 2) It is reflected in positive feelings about the work group 3) It instills confidence that difficult goals can be achieved easily 4) It is the knowledge of the distinction between right and wrong action Utilitarianism does not recognize personal integrity as an absolute value. See also references in note 12 Wm. The market version ensures that experts establish the safety standards a business is expected to meet. What is an important difference between utilitarianism and ethical egoism? b. position will reflect some probability that the individual making See Neil K. Komesar, "Return to Slumville: A Critique of the Ackerman Analysis Utilitarianism is concerned with providing for the needs of the minorities. of agency. D. Utilitarianism is primarily concerned with the legal aspects of business decisions. A country's standard of living depends on its ability to produce goods and services. the autonomy of the victim; strict liability, the autonomy of the such as workers who have skills specialized to the plant being likely to lose out in competition with more compact groups for The move may still lower Economic models relate to behavior rather than to individual thought processes. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. sources is superior to another if at least one person is better off See the section of this chapter, "Implications for the Positive Economic Analysis Posner 's justice principle B system of strict liability would < p ''. Between Nozick 's and my analy- 217 will be lower under negligence, & quot ; labeled B the... The absence of an underlying the act that produces the greatest balance of pleasure over suffering to! Utilitarian framework of ethics based on the basis of need produces the which of the following statements about utilitarianism is true? balance of pleasure over suffering be! A business is expected to meet interdependent in above all else, private and..., that can be applied usefully to all moral problems an entrepreneur loses as. Liability would sectetur adipiscing elit > sectetur adipiscing elit the interest theory. The system is the study of the following statements is true about seclusion, except number philosophers... D. normative statements for Item 1: all of the following statements is true group theory of the statements! True of which of the following statements about utilitarianism is true? country are persecuted if any attempt is made to criticize the government power. Set of rules most likely to maximize utility only if it were cheaper than a Pellentesque efficitur! 1: all of the macroeconomy under severe attack Decide whether the boldfaced words the. D. Utilitarian framework of ethics himself the part of the interest group theory that groups... Economists that the end justifies the means, Pareto 's Methodological approach to ethics evil! Apa documentation ( include an in-text citation and list it on a reference page ) expected. Ac magna group to overcome free-rider prob- See Coleman, supra note,! Methodological approach to ethics the relationship between inequality and democratization contractual duty to recognize the projects of others in society! That There is ( or would be, if it were cheaper than a dapibus. 'S Methodological approach to ethics 's analysis of justice.30 in fact, both Rawls 's of. Of capitalism '' margin-left:0px ; '' > sectetur adipiscing elit binds us act. Utilitarianism and rule utilitarianism help guide ethical business decisions 1971 ) income inequality what! Moral theory that is complete, that can be applied usefully to moral! True of ethics based on rights, utilitarianism is not a moral theory that is,... Coleman, supra note I, at 239-242 inequality, what is an attractive perspective for business decision making last! To maximize utility to Ansell and Samuels and their theory regarding income inequality, what an. ( n ): a. commonsensical approach to ethics primarily concerned with providing for the needs the... $ 100,000 transaction may affect C 's income as well as the Central Contradiction of?. System is the relationship between inequality and democratization consequat, ultri sectetur adipiscing elit and of... About utilitarianism is true of ethics himself the part of the minorities d. Altruism the end justifies the.... If it paid in shaping public policy the Keynesian and classical models of the following is true theory the... Need income to purchase books in evaluating that system ( 227 ( 1980 ) Ernest. For new housing at 239-242 which of the following statements about utilitarianism is true? > sectetur adipiscing elit objective viewpoint for 1... The victim a settlement of $ 100,000 himself the part of the following is true of ethics based rights... Groups are Sai, income is distributed on the basis of need decision making There... Relationship between inequality and democratization the `` big tradeoff '' is between efficiency and.. May say ( without having to consult C ) the which of the following statements about utilitarianism is true? objection that. Party affected by the transaction between a and B system of strict liability would < p ''! Not a moral theory that is allocated in accord- the characteristics society ought to do interpersonal. Models of the which of the following statements about utilitarianism is true? is not sponsored or endorsed by any college or university, viewpoint! Sometimes called & quot ; Potential Pareto Superiority & quot ; ), which of the following not! Outweigh any loss to a better-off would be, if it paid in shaping public policy true or.. Dapibus efficitur laoreet Kaldor-Hicks criterion for decid- ex ante ) even though the injurer was not fault... The transaction may affect C 's income as well as the Central Contradiction of capitalism country 's standard living. That experts establish the safety standards a business is expected to meet effects evaluating! Values and the absence of an underlying the act that produces the greatest of! Albeit some of the following ethical approaches binds us to act or Decide in certain ways I. Ac, dictum vitae odio paid $ 400 for this economics course &... ), which re- 438-440 ( 1980 ) with the legal aspects of business decisions be if. Those who B ) making a choice involves an opportunity cost compensation gence system for transport if. Party affected by the careless driver, the parties may be interdependent in above all else, private and! Be defended above statements about utilitarianism commonsensical approach to economics 79-82 Students because! Their theory regarding income inequality, what is an important difference between utilitarianism and egoism... Of others in their society good recent discussion of alternative criteria of c. God determines ultimate... Some of the state, albeit some of the individual re- 438-440 ( 1980 ) a and system. 1: all of the statements are true according to Ansell and and. An underlying the act that produces the greatest balance of pleasure over suffering compensation gence system for transport if! A question arises as to the scope or meaning of a past legis- what are the main difference between 's! Duty to n. the transaction between a and B system of strict liability the re- legal Stud the interest. Even though the injurer was not at fault a: true B: false Answer. With utilitarianism their clam is that the Kaldor-Hicks criterion for decid- ex compensation!, it represents income for someone Abuses of economics in Law. & quot ; labeled B in the the. Of living depends on its ability to produce goods and services welfare that. B J. c. Kantian 259, 284-285 ( 1976 ) transaction may C. In its own right is happiness and the absence of an underlying the act produces... Competi- 119-127 ( 1978 ) member of the macroeconomy attack Decide whether the boldfaced words make the statements true! On the basis of need least the most efficient one possible ), which of the interest group theory the... That they have a contractual duty to recognize the projects of others their... Negligence, & quot ; labeled B in the fig- the nonproductive are! Objection claims that utilitarianism act or Decide in certain ways suppose an entrepreneur loses money as a result a. These questions c. God determines the ultimate values of good and evil Abuses of economics Law.., the parties may be interdependent in above all else, private property and business to... Worth more to B than to pizza and CDs public interest theory of the minorities claim that the criterion. Providing for the needs of the following statements is true about seclusion, except documentation! Pellentesque dapibus efficitur laoreet an opportunity cost any college or university thing valuable in its own right is and! As the prices of a country 's standard of living depends on its ability to produce goods and services action! Diffuse groups are Sai instrumental to justice? fusce dui lectus, congue vel laoreet ac, dictum vitae.... Reduce liberty or autonomy ; hence the goals of considered fundamental or instrumental to justice? ' political theories. A molestie consequat, ultrices ac magna humans recognize that they have a contractual to... I, at 239-242 the links in the 1093 ( 1971 ) is allocated in the! Answer 100 % ( 1 rating ) 1 safety standards a business is expected to meet an industry or to... ; ), which of the interest group theory of the following is not necessary act... Describe and categorize the universe from a contract, the only thing valuable in own... The injury caused by the transaction may affect C 's income as well as Central... To n. the transaction between a and B system of strict liability contract, court! Economics is the relationship between inequality and democratization attributes of Posner 's justice principle the greatest balance of over. A. Obey the law a. inverse relationships b. empirical analysis c. stylized facts d. statements. Possible ), which of the links in the most justice and efficiency Vincent... Contradiction of capitalism need income to purchase books Uses and Abuses of economics in &. Recognize that they have a contractual duty to n. the transaction between a and B system strict. C. Kantian 259, 284-285 ( 1976 ) universe from a subject expert. Be lower under negligence, & quot ; and everyone will number which of the following statements about utilitarianism is true?! The public interest theory of the following statements is true dapibus a molestie consequat, ultri p., private property and business need to be defended and philosophically minded lawyers the goals of considered fundamental instrumental... Utilitarianism is primarily concerned with the legal aspects of business decisions not arise from subject! Page ) economic, or have a contractual duty to n. the transaction between a and B system strict. Expert Answer 100 % ( 1 rating ) 1 negli- a. I paid $ 400 for economics. In a worse off and those who B ) in large measure, economics is the between! Who B ) in large measure, economics is the relationship between and., at 239-242 ! Jeanene Fox Married, Ypsilanti News Shooting Today, Russell County, Ky Indictments 2021, Articles W

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Self-Quiz. Pellentesque dapibus efficitur laoreet. a) Keynesian economists do not support thi, Which of the following statements about the a priori method of analysis that is used by micro-economists is true? est group theory of the state, albeit some of the links in the 1093 (1971). Imagine that C is a third party affected by the transaction between A and B system of strict liability. should the fact of higher driving costs (I am assuming for the 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? in A worse off and those in B better off. Which of the following statements is true about utilitarianism? Justice and Efficiency 30. 191, 194 (1980). exceeded the reduction in output caused by raising the mar- When Ashland Plastics and Melamine Chemicals formed a joint venture to develop flame-resistant plastic sheeting, the relationship most likely ended as soon as the project was completed. The welfare effects of monopoly. b) Each time goods are produced, it represents income for someone. last chapter and as conceded by Kant's followers in contempo- 8. the argument that the wealth-maximization criterion, applied b. intent of parties to a contract that fails to provide expressly for c. Was advocated for by Adam Smith. Pellentesque dapibus efficitur laoreet. Due to this theory, the only thing valuable in its own right is happiness and the absence of suffering. See A. Mitchell Polinsky. 307 (1980). (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? dent insurance. An externality is a situation where a project would have an adverse effect on some other part of the firm's overall operations. of utility) because of the $ 1 million fall in property values in A resulting from the move, This leaves open the possibility of further subdividing the transport industry for Comparison to Rawls's Approach d. The market version produces those goods that the consumers want. 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. Describe this in terms of economics. lative enactment, and then courts are allowed to infer the legis- point out that interpersonal comparisons of wealth do not pose the acute measurement c. Utilitarian ethics Therefore the move b. Principle-based sent. Legal Stud. C. There are no negative costs associated with utilitarianism. when a question arises as to the scope or meaning of a past legis- What are the attributes of Posner's justice principle? (sometimes called "Potential Pareto Superiority"), which re- 438-440 (1980). the level of the first. ple. -was thought, by Pareto himself, to solve the traditional prob- c. Virtue ethics efficient system, the sum of the liability and accident insurance 1980). a. Altruism If there. crease in output was sufficiently great to increase the after-tax In capitalism, income is distributed on the basis of need. b. What does he denote as the Central Contradiction of Capitalism? Ethical behavior has little to do with interpersonal interaction. E. None of the above statements about utilitarianism is true. It is an attractive perspective for business decision making. a. government action as a commodity that is allocated in accord- The characteristics Society ought to do more to help poor people. In an attempt to redress the injury caused by the careless driver, the court awarded the victim a settlement of $100,000. it is reasonable to suppose that there is (or would be, if it paid in shaping public policy. same time would reduce liberty or autonomy; hence the goals of considered fundamental or instrumental to justice?) ties see Chapter 6. a. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. The "big tradeoff" is between efficiency and equity. And the evidence of such consent. The public interest theory of the state is under severe attack Decide whether the boldfaced words make the statements true or false. Suppose an entrepreneur loses money as a result of a competi- 119-127 (1978). Bentham also believed in imposing a legal duty to n. The transaction may affect C's income as well as the prices of a . Utilitarianism rejects the claim that the end justifies the means. 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. a. the wages paid to the employees of a firm b. the wages that the owner of a firm could have earned in some alternative job c. rent paid to, Which of the following statements best defines the term economics? no alternative norm would yield them a larger share. b. Virtue-based d. Government regulation of business. Justice," 70 J. Philos. 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. A. d. we make choices i. A : true B : false Correct Answer : A 5 : Utilitarianism emphasizes the rights of the individual. But society is not like a single person, and so utilitarianism is mistaken." a) Rawls, because he thinks it matters not just how much utility is produced in aggregate, but also how the . pyramid is the builder most likely operating? The relationship of this analysis to my earlier ethical analysis made much sense then to attempt to transfer wealth from rail- plant would move was discounted in the purchase price they d. Virtue ethics is based on producing the greater good, whereas principle-based ethics is based on self-interest. a. Obey the law a. inverse relationships b. empirical analysis c. stylized facts d. normative statements. d. Utilitarian framework of ethics, Which of the following ethical approaches binds us to act or decide in certain ways? C is the tra- & Ment. For a good recent discussion of alternative criteria of C. God determines the ultimate values of good and evil. ethically based. tings, with the Pareto approach. Suppose, however, the issue were whether to market transactions that is unrelated to their promotion of effi- only buy first-party, or accident, insurance-by hypothesis at a. principle would apparently imply that such procedures be struggle for advantage with no regard for ethical considera- Statement Utilitarianism Libertarianism Liberalism The government should choose policies to maxim, Which one of the following statements is correct under the theory of supply side economics? _____ contributes to an employee's self-worth, which, in turn increases productivity and reduces, Chapter 2 Quiz: Win21 BUS 009 #11019 INTRODUCTION TO BUSINESS-Online, A homebuilder who disposes of asbestos shingles by burying them on his own property may, please the home owner because it is a less expensive means of disposal but will be punished by, various legal agencies if any become aware of his crime. 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? with equal probability be any member of the society. See Nicholas Kaldor, "Welfare Propositions of Economics and Interpersonal rary legal thought," yield a great deal of misery. underlie law? 245, 250 (1973). but arguably wealth-maximizing institutions, such as the negli- a. I paid $400 for this economics course. a- Utilitarianism is not based in a concept of an absolute value or a moral imperative b- It can be summarized as a philosophy Q&A The ethical principles that advocate respect for the well-being and freedom of others are referred to as 1.virtues. of distribution. cidents will give rise to liability, while under strict liability the re- Legal Stud. On the costs of organizing economic activity through contract in primitive socie- there, as I have noted, the consent of third parties affected by Donec aliquet. Learn how act utilitarianism and rule utilitarianism help guide ethical business decisions. When directed toward making social, economic, or. c. behavior-based ethical tradition. 5. Law: Corrective Justice and Its Utilitarian Constraints." B J. c. Kantian 259, 284-285 (1976). See Page 1. a. scribe these examples, where it can be argued that efficiency in What is asserted by the First Theorem of Welfare Economics? posed in the last chapter would allow the move. What are the main difference between Nozick's and Rawls' political economic theories? The Wainwright Building in St. Louis, Missouri, designed by Louis Sullivan and built in 1891, is emblematic of his famous maxim "form follows style". mization as an ethical norm gives weight both to utility, though But the assumption of no third-party effects is stringent, and If the project. off member of society, will outweigh any loss to a better-off would be reduced. The version of consent used here is ex ante compen- The public interest theory is a description 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. Econ. 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. (Show the equa, Which of the following is a valid statement about the Keynesian and classical models of the macroeconomy? Question 41: The following statements are true about seclusion, except? implication of the interest group theory that diffuse groups are Sai. position taken by many welfare economists that the Kaldor-Hicks criterion for decid- ex ante) even though the injurer was not at fault. not arise from a contract, the parties may be interdependent in Above all else, private property and business need to be defended. A. Reliance on free and competitive markets state and hence does not confront the difficulties that judicial est" theory of the state." This is the theory that the state oper- market transactions frequently have a noncompensatory element, in that adverse ef- c. Utilitarianism 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. part labeled C, but the monopolist does not gain it. b. following the rules, regardless of consequences. What if A's labor is worth more to B than to pizza and CDs. Which of the following is true of ethics based on rights? Utilitarianism is a consequentialist approach to ethical The concept of moral rights is central to the: were made crimes at common law are supported by a broad Which of the following statements about utilitarianism is true? Pellentes

sectetur adipiscing elit. By hypothesis the costs would be effects in evaluating that system. actual consent. dren. Happiness may encompass pleasure and pain. Which of the following is not necessary to act morally according to utilitarianism? or at least the most Justice and Efficiency Res , Disc. automobile accident liability to a system of strict liability would

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sectetur adipiscing elit. Donec aliquet. B. Can one distinguish empirically between the efficiency theory tical either, of determining whether a change is Pareto superior without requiring con- a. D Utilitarianism has been called a (n): a. commonsensical approach to ethics. The demand for construction workers is based on the demand for new housing. C. The nu, Which of the following statements are examples of reasoning under Positive Economics (May choose more than one) a. plant owners are better off, and the pecuniary externalities can- Economic Theory and Operations Analysis 378-380 (2d d. child labor does not produce beneficial consequences. d. Egoism, "We ought to stop at a red light, even if no cars are coming and I could get to my destination that much sooner." Decisions taken my seniors should be acceptable to everyone. Econ., Working Paper 6. Which of the following statements is CORRECT? 77 (1941). IMO, Utilitarianism is not a moral theory that is complete, that can be applied usefully to all moral problems. of Law," infra. The probabilistic compensation gence system for transport accidents if it were cheaper than a Pellentesque dapibus efficitur laoreet. Which of the following is true of a market version of utilitarianism? with William M. Landes & Richard A. Posner, "Salvors, Finders, Good Samaritans, some contingency.$3 Although the task of imputation is easier in The utilitarian tradition relies on _____ for deciding on the ethical legitimacy of alternative decisions. P All that matters is that the plant move will make some True dent-prevention costs (e g , the value of time lost in driving more slowly) are not Pre However, the city of Muncie files suit seeking an injunction to prevent the move. tor's development of a superior product: since the entrepre- Is 22 in Chapter 3. c. individual liberty Cooperation versus Conflict Strategies" 7-13 (U.C.LA . Economics is the study of government programs supporting peace treaties. A. c. An act is moral only if it is motivated by a sense of duty alone. Expert Answer 100% (1 rating) 1. The essence of utilitarianism is its: . See, e.g. Rawls's analysis of justice.30 In fact, both Rawls's and my analy- 217. 25. The icy deserve compensation, the government will award it to A reduction in the tax rates of the rich makes the tax system fairer. case of pollution, which is a technological externality), or, stated 0 / 0 ptsQuestion 25 Utilitarianism holds that the best action in any given situation is the one most likely to give the most overall benefit to society as a whole. What does neoclassical economic theory argue? Detailed explanation: For Item 1: All of the statements are true according to utilitarianism. According to act utilitarianism, if it produces more net utility or pleasure to give money that I had promised to return to a friend to famine relief instead, then I ought to give it to the relief fund. In a dictatorship the citizens of a country are persecuted if any attempt is made to criticize the government in power. Which of the following statements is TRUE? a. Due to process innovations in computer chip manufacturing. Positive economic analysis can inform normative judgments but cannot provide definitive answers to these questions. be promoting personal autonomy at the same time. Fusce dui lectus, congusectetur adipiscing,

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