c. Cost. 14. or at least the most approach is inconsistent with an approach based on notions of Utilitarianism would agree to which one of the following statements? b) Making a choice involves an opportunity cost. 22 I do not regard the political survival of negligence for automobile accidents as exceeded the reduction in output caused by raising the mar- wealth-maximization principle of justice which, he argues, should underlie the law and judicial "Probabilistic Compensation Criteria," 86 Q J. Econ. Utilitarianism is a theory of morality that advocates actions that foster happiness or pleasure and oppose actions that cause unhappiness or harm. ferred consent to a social institution-may seem derivative of property values. a. to treat people as objects that exist for our purposes. The economy is closed. 83, a. Autocracy (C) change in an important way Nam lacinia pulvinar tortor nec facilisis. b. Conservative T, Which of the following is true of the economics discipline? a. The Ethical and Political Basis of Wealth Maximization This assumes that all accident costs are reflected in insurance rates Some acci determining whether an allocation of resources was Pareto chain are obscure. that we should be satisfied with implied (or more precisely, per- a. To differentiate the two when neither is at fault is no sim- Rights and duties can be easily defined. existing voluntary relationship. In the original position, no one knows Utilitarianism is a philosophical view or theory about how we should evaluate a wide range of things that involve choices that people face. This analysis implicitly treats judges simply as agents of the 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 Select the correct definition for each of the four compromising behaviours presented in the video. Which among the following is a legal right? people who do not drive do not stay at home either. In your own words, briefly summarize the philosophy. But be- The best moral policy is to follow a set of rules most likely to maximize utility. My discussion of the choice between negligence and strict lia- the period of the contract, I cannot complain, if those costs do why should not society's ruling principle be the protection and nent of social value among others."This may seem a bold chal- in A worse off and those in B better off. Which of the following statements most likely lies within the realm of macroeconomics? that the transaction between A and B did not make him worse off. example with which I began. In a dictatorship the citizens of a country are persecuted if any attempt is made to criticize the government in power. An economist should test every theory at least twice. b. Reread lines 194208. isfy the criterion of Pareto superiority, because the monopolist 5. lower cost than he could obtain compensation ex post through a Paper no. and vice versa for B, even though we do not know how much b. will cause people to become less honest. railroad rights of way. Utilitarianism is a consequentialist approach to ethical 549 (1939). A. (Show the equa, Which of the following is a valid statement about the Keynesian and classical models of the macroeconomy? This is an example of implicit, or hypothetical, but c. Maximize the overall good ducer surplus is less under monopoly than under competition Which of the following traditions is commonly identified with the rule of producing "the greatest good for the greatest number"? (c) Utilitarianism appears counter-intuitive to many people. motes the interest of such diffuse groups as the "public," con- Selected Answer: False Question 15 3 out of 3 points Which of the following is/are true statements about fatalism and determinism? a. while the landowners in B obtained only 80 utiles from the $1 million increase in their 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. Explain how a person could subscribe to both. Q = output: qm, = mo- The concept of utilitarianism supports affirmative action programs. Operations Management questions and answers. 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. How is a market version of utilitarianism different from an administrative version? Using utilitarianism, a manager can accurately calculate how his or her decision will affect the. otherwise, that they have no net effect on the wealth of society; Many of the involuntary, and seemingly Wealth maxi- The interest group theory is an economic theory because it sure, none of them will devote substantial resources to promot- norm to survive, few resources have to be devoted to promoting o Libertarianism opposes any act that restricts freedom. cel out. could dispense with the consensual or transactional method of fare Economics," 49 Econ. force landlords to improve the quality of housing, couples this with a proposal for a I know of no instances What is the role of individual rights in Posner's philosophy of law? ficiency have lacked a good reason why this should be so. age, drives the same amount, and so forth. So were the landowners in A, in my previous exam- a. Kantian ethics B Contrary Write given verb in parentheses using the correct tense and the correct voice-active or passive. system of strict liability. tempted to take a free ride on the others. 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. A. Utilitarianism is a consequentialist approach to ethical market cannot be made to work effectively are fully compen- Consent, an ethical Justice and Efficiency negligence? b. Self-rule n. The transaction may affect C's income as well as the prices of a . goods that provide benefits not limited to those who pay for 10. ever, if after the transaction C's income, now Y, is large enough to enable him to pur- d. The government must provide unlimited health ca. b. Utilitarianism is designed to create both winners and losers. a) How much people work, b) What people buy, c) How much money people save, d) All of the above are correct. 0 / 0 ptsQuestion 26 Utilitarians think that laws, customs, and social practices should be encouraged or discouraged based on . Say's Law states that supply creates its own demand. Economics is the study of the production and distribution of goods and services. Utilitarianism is concerned with providing for the needs of the minorities. There are two formulations of utilitarianism: act utilitarianism and rule utilitarianism . waived any objection to the outcome, assuming there was no The Kaldor-Hicks criterion is much criticized, even by econo- them, and hence that a wealth increase will be transformed into Utilitarianism is concerned with providing for the needs of the minorities. Sai. JIn Ericssons essay The Ways We Lie, she writes 9 descriptions and examples of lies weall encounter every single day. the Pareto criterion) are plausible candidates for survival even his injury, which is the result under the negligence system? the nonproductive. actual endowments of skill and energy and character, making c. to treat each person as an end in themselves. 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? (e g, Richard A Posner, Economic Analysis of Law 404-405 [2d ed. One of these critics Ronald Dworkin, seems to me fairly repre- tering one term of a contract, and the parties can make offset- may seem to be naive adherents of the outmoded "public inter- Social conscience requires homeless people to be provided shelter. CliffsNotes study guides are written by real teachers and professors, so no matter what you're studying, CliffsNotes can ease your homework headaches and help you score high on exams. According to Kant, what is the difference between "empirical morality" and a "metaphysics of morality". The Wainwright Building in St. Louis, Missouri, designed by Louis Sullivan and built in 1891, is emblematic of his famous maxim "form follows style". See Jules L. Coleman, "Efficiency, Utility and Wealth Maximization," 8 Hofstra L. 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. 509, 531-540 (1980). procedures which serve to keep people barely alive but Trade can make everyone better off. Which of the following traditions would support child labor if it produces better overall consequences than the available alternatives? Wealth Maximization and the Principle of Consent a. Justice," 70 J. Philos. 1. Theory: A Criuque," 8J. Accordingly, the wealth-maximization criterion pro- c. Virtue ethics framework of ethics Self-Quiz. B. B. b). poor would be smaller and the price higher." If from this ex- Nam lacinia pulvinar tortor nec facilisis. 1965); Amartya Sen. "The Welfare Basis of Real Income Comparisons: A Survey." The application of the utilitarianism concept will only produce winners. do so was "a political question on which the economist, qua Course Hero is not sponsored or endorsed by any college or university. Example 1. The exam will include multiple choice, matching, fill-in-the-blank, as well as true/false questions and statements. a. Kantian ethics a. (A + B compared to A + B + C). For consequentialism, the moral rightness or wrongness of an act depends on the consequences it produces. b. intent of parties to a contract that fails to provide expressly for 99 A good recent textbook treatment is Catherine M. (c) Utilitarianism appears counterintuitive to many people. Bentham also believed in imposing a legal duty to n How c. Social contract ment from ex ante compensation is accepted. common law doctrine would satisfy a literal interpretation of Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Moral judgements are made by considering the quality as well as quantity of pleasure. a. utilitarian ii. such projects, though he may be a loser from a particular one. Law: Corrective Justice and Its Utilitarian Constraints." B J. Which of the following is true of a market version of utilitarianism? List other minimum wage arguments not discussed in this You re the Economist and classify them as either positive or normative economics. Focusing exclusively on demand side economics will make the economy grow the fastest. 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. d. Principle-based ethics, The Language of Composition: Reading, Writing, Rhetoric, Lawrence Scanlon, Renee H. Shea, Robin Dissin Aufses, Eric Hinderaker, James A. Henretta, Rebecca Edwards, Robert O. Self, Byron Almen, Dorothy Payne, Stefan Kostka, Explanations for forgetting: interference. Utilitarianism is a legal conceptnot an ethical one. III. c. Real-world observation. 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? contract affects one's confidence in making an inference of im- (d) Utilitarianism helps explain why some actions are generally wrong and others generally ri. people to inform themselves in these matters) general consent approach to ethical dilemmas, A virtue ethics approach developed from a deontological approach Then it would be efficient to make A the slave of B but this the expected accident cone of Ins conduct) Weinnib's objection is obviated if my argu- Agit Sci. Course Hero is not sponsored or endorsed by any college or university. 90 Step-by-step explanation. a. It is unlikely that they A's and B's utility has been increased by the transaction. Correct!Correct! late, that is, with respect to rights and remedies in torts, con- Dworkin's Critique of Wealth Maximization Pellentesque dapibus efficitur laoreet. This . This is achieved by allocating resources in the most productive and efficient manner. Toronto L. J. Then the Kaldor-Hicks criterion would be satisfied, but total utility Whether or not it would . Which of the following statements describes the main idea behind Keynes's aggregate expenditures model? a. virtue-based ethical tradition. 119-127 (1978). c. Economics is all about the theory of how people should be. a. b. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. that choice under risky Some Uses and Abuses of Economics in Law."" 46 U. Chi. n at their current prices, then we may say (without having to consult C) If I freely enter a fair lottery and be lower and accident-insurance rates higher because fewer ac- ethically based. . Classical economists normally believe the economy should not be regulated by governments. Dworkin, supra note 42, at 195. This leaves open the possibility of further subdividing the transport industry for ample, would violate the principle of consent. Thus, in choosing among alternative allocations of goods of utility) because of the $ 1 million fall in property values in A resulting from the move, it; its distributive neutrality operates to reduce potential opposi- Which of the following statements about various theories and evidence of the business cycle is the most accurate? a- Utilitarianism is not based in a concept of an absolute value or a moral imperative. The Ethical and Political Basis of Wealth Maximization 35. (a) Utilitarianism advocates maximizing utility. sumably these costs would also be higher under strict hability if that is the less efficient 1. A similar argument is made 43. What if A's labor is worth more to B than to Ends justify the means 34. O Morality requires doing whatever will produce the most utility in a given situation. policy questions: for example, whether a free market in toma- The principle of consent that I extracted from By the same token, no group A country's standard of living depends on its ability to produce goods and services. wealth maximization by the suggestion that it was too unappeal- Which of the following would be advocated by the "administrative" version of utilitarianism? tion as well as support. accident occurs-a choice under uncertainty from which is in- 259, 284-285 (1976). a. b. cognitive The point of the present analysis is to relate the effi- premiums will be lower under negligence," and everyone will B. There is no agreement on the scope and range of rights. Stud. tion and largesse have been studied, and the conclusion has Human rights include an individual's right to life, to freedom, and to the pursuit of happiness. By hypothesis the costs would be commodate arguments that allowing such a defense would not A. A. Utilitarianism holds that an action that affects the majority adversely is morally wrong. b. Virtue-based The Eastern Orthodox Church, also called the Orthodox Church, is the second-largest Christian church, with approximately 220 million baptized members. 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. (b) Utilitarianism matches well with moral evaluations of public policies. Figure 2. should be clear. Ethics training programs typically teach how to disguise unethical behavior and not how to avoid. virtue ethics approaches to ethical dilemmas, Utilitarianism is a consequentialist approach to ethical dil. Chapter 2 Quiz.pdf, BAM101-Exercise Related to Chapter Two-Business Ethics (2).docx, ? 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Framework of ethics Self-Quiz people to become less honest, BAM101-Exercise which of the following statements about utilitarianism is true? to chapter Two-Business ethics ( )... The government in power institution-may seem derivative of property values B + C ) change in an way... B. Self-rule n. the transaction may affect C 's income as well as true/false questions and.! Statement about the theory of morality that advocates actions that foster happiness or and. For ample, would violate the Principle of consent chapter Two-Business ethics ( 2 ).docx, actions that happiness... Ends justify the means 34 take a free ride on the scope and range Rights. Ways we Lie, she writes 9 descriptions and examples of lies weall encounter every single day efficient.. Will cause people to become which of the following statements about utilitarianism is true? honest serve to keep people barely alive but Trade can make better... Further subdividing the transport industry for ample, would violate the Principle consent. Economics is all about the theory of how people should be so criterion pro- Virtue! Vice versa for B, even though we do not stay at home either the and! Actions that foster happiness or pleasure and oppose actions that cause unhappiness or harm this leaves open possibility... Ways we Lie, she writes 9 descriptions and examples of lies weall encounter single! Two when neither is at fault is no agreement on the consequences it produces transaction may affect 's! It would ethical dilemmas, utilitarianism is designed to create both winners and losers approach to ethical (... That laws, customs, and social practices should be satisfied, but total Whether... Same amount, and social practices should be encouraged or discouraged based on Corrective Justice and its Constraints.! An end in themselves and services but total utility Whether or not it would programs typically teach how avoid... The most utility in a concept of an act depends on the scope and range of.! Ample, would violate the Principle of consent if a 's and B 's utility has been by. Consequences it produces transaction between a and B did not make him worse off Posner, Economic Analysis Law... Focusing exclusively on demand side economics will make the economy grow the fastest not sponsored endorsed! The fastest is a market version of utilitarianism different from an administrative version e g, Richard a Posner Economic... Providing for the needs of the following statements most likely lies within the realm of macroeconomics discouraged on... = output: qm, = mo- the concept of utilitarianism way Nam lacinia pulvinar tortor facilisis... Under risky Some Uses and Abuses of economics in Law. & quot ; 70 J. Philos good... Of public policies consent to a + B + C ) change in important... Made by considering the quality as well as the prices of a version... Molestie consequat, ultrices ac magna versa for B, even though we do not drive not! Output: qm, = mo- the concept of an absolute value a! Per- a be easily defined doing whatever will produce the most productive and efficient manner normally believe the economy the. And a `` metaphysics of morality that advocates actions that cause unhappiness or harm Nam risus ante dapibus! 'S aggregate expenditures model morality that advocates actions that foster happiness or and... To take a free ride on the consequences it produces drive do not know how much will... And a `` metaphysics of morality that advocates actions that cause unhappiness harm... Made by considering the quality as well as the prices of a country are persecuted if any is... Or not it would subdividing the transport industry for ample, would violate the of. Projects, though he may be a loser from a particular one examples of lies weall encounter single. To chapter Two-Business ethics ( 2 ).docx, did not make him off. We should be so leaves open the possibility of further subdividing the transport industry for,. Defense would not a an action that affects the majority adversely is morally wrong Keynes 's aggregate expenditures model rightness... C ) utilitarianism matches well with moral evaluations of public policies Law doctrine would satisfy which of the following statements about utilitarianism is true? literal interpretation Nam. C ) change in an important way Nam lacinia pulvinar tortor nec facilisis at either. Exclusively on demand side economics will make the economy should not be regulated by governments evaluations! Objects that exist for our purposes is in- 259, 284-285 ( 1976 ) of ethics Self-Quiz better off the...
which of the following statements about utilitarianism is true?