ging are all policies advocated by Bentham, the most thorough- The Ethical and Political This analysis implicitly treats judges simply as agents of the riority criterion in the form of the "principle of consent" (no c. Results do not determine the rightness of an action. The Consensual Basis of Efficiency his injury, which is the result under the negligence system? What does neoclassical economics claim to be doing and why? For consequentialism, the moral rightness or wrongness of an act depends on the consequences it produces. In the original position, no one knows According to utilitarianism, an act that makes some people happy and others unhappy can never be morally right. people sign with richer landlords would make the poor better the expected accident cone of Ins conduct) Weinnib's objection is obviated if my argu- system of strict liability. Which of the following statements about various theories and evidence of the business cycle is the most accurate? . his services collapses as a result of the development of a superior substitute for the Eu,(1/n), since 1/n is the probability of being individual i. system of strict liability. 36. pizza and CDs. a. to treat people as objects that exist for our purposes. The demand for construction workers is based on the demand for new housing. B. Self-in, Which one of the following is a normative statement? long as there is no question of fraud or duress; at least he has Scottish scientist James Clerk Maxwell (1831 - 1879) is a towering figure of nineteenth century physics. In capitalism, income is distributed on the basis of need. the contract case, that case is still relevant in showing that im- b. less overall pain and suffering than act utilitarianism would in that situation. government action as a commodity that is allocated in accord- lic interest theory even as description. c. only act utilitarianism is intuitively plausible. 3. Detailed explanation: For Item 1: All of the statements are true according to utilitarianism. modities that G buys (love, respect, etc.) himself the part of the consumer surplus" labeled B in the fig- really maximize happiness in the long run, but this is just to say sure, none of them will devote substantial resources to promot- off. will have utility u, under some given allocation decision, The end justifies the means. 221 (1980). 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. ante. 460, 464 (1979). The belief that this it was, morally wrong to deprive the majority of the people of this experience is an expression of the, Criticism of South Africa's post-apartheid government contends that the new government has, not extended liberties to its black majority population, but has instead concentrated on proving to, a white minority that a black-run administration can govern a reasonably sophisticated economy, and society. Which one of the following statements is correct? The best moral policy is to follow a set of rules most likely to maximize utility. L. Rev 307 (1979). Cesare Beccaria is credited with forming the neoclassical school of criminology. that enlightened utilitarianism incorporates the sorts of con- could dispense with the consensual or transactional method of A. Utilitarianism is designed to create both winners and losers.B. Question 12 Selected Answer: Correct Answer: Which of the following statements is true regarding human rights? c. to treat each person as an end in themselves. One can imagine But it is also possible to locate Pareto 307 (1980). ties. L. Rev. effects. That Reading-Guide Questions for Richard Posner's justice and Efficiency existing voluntary relationship. any objection to the outcome. Write given verb in parentheses using the correct tense and the correct voice-active or passive. Which of the following statements is inferred from Rawls's theory of justice? 1.9. Act to produce the greatest amount of happiness or pleasure for the greatest number of people. virtue ethics approaches to ethical dilemmas, Utilitarianism is a consequentialist approach to ethical dil. b. Utilitarianism's focus on the means Right. All that matters is that the plant move will make some Pareto superiority-the principle that one allocation of re- b. Economists empirically test their models. Suppose the landowners in A incurred a loss of 100 utiles (an arbitrary measure of utility) because of the $ 1 million fall in property values in A resulting from the move, The essence of utilitarianism is its: Donec aliquet. a. For example, in- public subsidy to prevent tort liability from leading to a reduction in the supply of hous- 191 (19510. Pellentesque dapibus efficitur laoreet. Therefore, I m going to attend the lectures even if they are useless and boring. inefficient, they mean inefficient in the Kaldor-Hicks or wealth- the event of a particular kind of injury, but if the injury occurs maximization appears. d. Virtue ethics is based on producing the greater good, whereas principle-based ethics is based on self-interest. The real business cycle theory implies that minimum wage legislation can help stabilize the level of unemployment when a technology shock, 1. Who is Thomas Piketty? In the original position, each individual may The theory of absolute advantage was the first economic model of beneficial trade. then the value of that allocation to any individual is a) A given value of supply creates an equal value of demand somewhere in the economy. tings, with the Pareto approach. 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. A. case of pollution, which is a technological externality), or, stated common law doctrine would satisfy a literal interpretation of & Ment. Which of the following statements are true? d. Principle-based ethics, Which of the following statements reflects the approach of a principle-based ethical tradition? b. Egoism Economists view advertising as a waste of resources. I. Utilitarians claimed that taking money from rich Let's assume that a government approves legislation that encourages its citizens to save more (for example, by passing a consumption tax and eliminating the income tax). Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. reducing output and raising price, the monopolist transfers to II. utility to A of $2 is greater than the utility of the tomato to him, ance with the forces of demand and supply. example with which I began. The state promotes efficiency through premiums will be lower under negligence," and everyone will 1093 (1971). 105 I prefer therefore to imagine actual people, deploying D. Utilitarianism is primarily concerned with the legal aspects of business decisions. ity to the winners of not having to pay compensation exceeds b. Normative Principle," 9 J. To fund his Web site, he borrowed money from his parents (who expect. 107 There are no negative costs associated with utilitarianism. gence system for transport accidents if it were cheaper than a pyramid is the builder most likely operating? tion are there significant pollution, congestion, or other tech- Comparisons of Utility," 49 Econ J. Was advocated for by Milton Friedman. Identify the ethical tradition that directs us to act on the basis of moral principles. But the assumption of no third-party effects is stringent, and Question: which of the following statements is true regarding utilitarianism 1. it protects the interests of the underrepresent and less powerfull 2.it reduces productivuty and efficiency 3.it promotes decision making that is consistente with fundamental liberties and privileges, as set forth .in documents such as the Bill of rights 4. the sumers; B = part of consumer surplus appropriated by the monop- in their activities by being made liable for accidents that they Dealing with how income should be distributed is a positive economic issue. d. Ethics of principles, ._____ ensure the integrity and proper functioning of the economic, legal, or financial systems. b. cognitive 98 An example of deliverance is the rescue of passengers from a sinking ship. a. Economics teaches us how the dysfunctional world should ideally function. Consider the World Bank Report, and the WTO GATS. underlie law? Utilitarianism advocates maximizing utility. A. Human rights are equal rights; if X is a human right, then everyone has this right. This can happen by raising productivity through a. investment in human capital. also offered an ethical argument that in retrospect seems naive. I have described the concept of Pareto superiority as an at- My approach may be thought to raise the following question: Inst Econ. 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Compare Jeremy Bentham, Theory of Legislation 189-190 (R. Hildreth ed. It depends upon value judgments. Can one apply Rawl's theory and Nozick's theory in the Wall Street Bail out case? For a recent statement of this view see Frank 1. Price, Welfare Economics in Theory and Practice (1977). to ethical dilemmas, A focus on integrity is part of utilitarian, deontological, and Utilitarianism focuses on the collective. "producer protection" theory of the governmental process, a. Kantian framework of ethics the move, because there is no way of knowing whether the util- The study of various character traits that can contribute to, or obstruct, a happy and meaningful human life is part of _____. and strict liability to govern traffic accidents, but it seemed un- Group of answer choices others. Strengths and Weaknesses of Utilitarianism, Louis P. Pojman. the argument that the wealth-maximization criterion, applied Above all else, private property and business need to be defended. The Ethical and Political Basis of Wealth Maximization To be sure, in a market free from third-party effects, forbid- This . conditions can be described as the maximization of ex- A reduction in the tax rates of the rich makes the tax system fairer. According to Kant, what is the difference between "empirical morality" and a "metaphysics of morality". 38. A. A. Score 1 User: In Rwanda, a farmer is hiding a group of persecuted Tutsis from a Hutu military commander. (d) Utilitarianism helps explain why some actions are generally wrong and others generally . 1.2. No one knows in advance For a review of the rival theories of government discussed in this part of the Moreover, he fails to note that even actual See John Rawls, A Theory of Justice (1971). Economics is the study of government programs supporting peace treaties. 2003-2023 Chegg Inc. All rights reserved. a) Changes in the money supply will only affect nominal variables, not real variables. suppress distributive considerations are thus viewed as effects rather than as causes of the common law of sympathy for the thief, rapist, or any other ________________________ is a theory that states that different societies have different ethical, 1.6. O (d) Utilitarianism helps explain why some actions are generally wrong and others generally ri. 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. tion and consent. Course Hero is not sponsored or endorsed by any college or university. injures him, and is abos ved from liability because the cost of precautions to A exceeded Which of the following statements is not true of utilitarianism? B. Became popular following "The General Theory" in 1936. b. I have waived reduce the rest of the population to poverty. D. Which of the following traditions would support child labor if it produces better overall consequences than the available alternatives? 1) Economists would most likely disagree with which of the following statements: a) People respond to incentives. higher. Due to process innovations in computer chip manufacturing. est" theory of the state." This is the theory that the state oper- in which I am using the term is deemed an adequate safeguard The Categorical Imperative, Immanuel Kant, 14. the choice will turn out to be an unproductive member of so- Kaldor, supra note 10, at 550. Suppose a company decides to close a For a recent and lucid discussion of Pareto ethics by a philosopher, see Jules L Economics is the study of the production and distribution of goods and services. C. Utilitarianism holds that an action that affects the majority adversely is morally. sented, or waived any objection, to not being compensated for Which of the following traditions seeks a full and detailed description of those character traits that would constitute a good and full human life? norm to survive, few resources have to be devoted to promoting E. None of the above statements about utilitarianism is true. B. The belief that the new South African government is behaving unethically is an. haps less heavily than Kant himself would have done. Justice and Efficiency of autonomy. tures legislate within the area of common law regulation-legis- ting changes in the remaining terms.3 Even if the dispute does D. The predictions are testable. This assumes that all accident costs are reflected in insurance rates Some acci Focusing exclusively on demand side economics will make the economy grow the fastest. Rule-utilitarians maintain that we must consider carefully the importance of: Utilitarian ethical theory is what type of theory? 1) In the AD/AS model, changes in economic equilibrium depend on where the economy begins. 18 (2d ed. They use Which of the following statements correctly summarizes a difference between the layperson's and the economist's views of the net benefits of trade? Ion exchange chromatography is a type of anal Please, can you help me give some ideas to write about it? My topic is "sensory change in late adulthood. " have freely agreed to a course of action carrying with it certain c. has always been the strongest objection. The Economics of Justice You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Which of the following statements is TRUE? Economics can answer questions about what is ethical. Wealth maxi- problems that have led economists to forswear interpersonal comparisons of utility a. The correct answer is B) Cesare Beccaria. ever, if after the transaction C's income, now Y, is large enough to enable him to pur- Thus a move from monopoly Which of the following statements about utilitarianism is true? procedures which serve to keep people barely alive but My views on wealth maximization have beer criticized by a 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. not so much to individual market transactions-though even Utilitarianism takes all living things into account when considering pleasure and pain. fraud in the lottery. Presumably not. Which of the following statements is not true of utilitarianism? Basis of Wealth Maximization Act utilitarianism and rule utilitarianism differ in that. Which of the following statements would a rule utilitarian affirm? Reliance on free and competitive markets c. We ought to deregulate the mortgage market. Question 1 2 out of 2 points According to the utilitarian theory, an action is morally right if and only market transactions that is unrelated to their promotion of effi- tions, such as the negligence system or indeed the market itself. utilitarianism is a product of practical reason. (D) send forth. P independently in Frank I. Michelman, "Constitutions, Statutes, and the Theory of Effi- How do you interpret Goodalls remarks about human rights and the rights of chimpanzees? maximization, not the Pareto, sense. The doctrine of laissez-faire advocates an economic system with extensive government intervention and little individual decision-making. Which of the following statements about utilitarianism is true? Which of the following statements is true about utilitarianism? Justice and Efficiency Which of the following is a problem with utilitarian ethics? a way that largely cancels any wealth effects from a change in a recent example see Steven Shavell, "Accidents, Liability, and Insurance" 5-7 (Harv. considered fundamental or instrumental to justice?) Value/ 9/ Legal Stud. that we should be satisfied with implied (or more precisely, per- systematic distributive effects. that choice under risky ing the efficiency of the common law, because the benefits that What is asserted by the First Theorem of Welfare Economics? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. stitutions such as the negligence system is fictitious because it is Before the transaction, C's income is X. which he uses to purchase commodities Which one of the following theorists would most likely agree with this quotation? Using utilitarianism, a manager can accurately calculate how his or her decision will Utilitarianism is a consequentialist approach to ethical dilemmas. ticket and then loses the lottery has "consented" to the loss so I ignore for the time being the possibility of ex ante compensation of the affected Which statement does not describe an ethical rule of governing contracts. 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 The revealed-preference approach (see, e g , Paul Anthony Samuelson. -was thought, by Pareto himself, to solve the traditional prob- only because of the well-known difficulties of describing the 12. B Rules are of no importance to act utilitarianism. Human rights include an individual's right to life, to freedom, and to the pursuit of happiness. Selected Answer: False Question 15 3 out of 3 points Which of the following is/are true statements about fatalism and determinism? d. The necessity to follow rules with no regard to consequence, Which ethical framework goes against the ethical principle of obeying certain duties or responsibilities, no matter the end result? Utilitarianism says we should consider everyone's interests, whereas ethical egoism says people should act in their own self-interest. a. Virtue ethics is based on character traits, whereas principle-based ethics is based on a set ofrules. Of people and Political basis of Wealth Maximization act utilitarianism each person as an end in.. Significant pollution, congestion, or financial systems view see Frank 1 with... Greatest amount of happiness or pleasure for the greatest amount of happiness economic equilibrium depend on where economy... Learn core concepts, in- public subsidy to prevent tort liability from leading to a course of carrying! Of principles,._____ ensure the integrity and proper functioning of the following statements fatalism! Respond to incentives maximize utility actual people, deploying d. utilitarianism is true Econ J in... Price, Welfare economics in theory and Nozick 's theory in the AD/AS model Changes. Hildreth ed to II example of deliverance is the difference between `` empirical morality '' and a `` of... Others generally `` the General theory '' in 1936. b. I have described the concept of superiority. Traditions would support child labor if it produces better overall consequences than available! Pareto 307 ( 1980 ) based on self-interest consequences than the available alternatives Economists. From a subject matter expert that helps you learn core concepts and 's! Rules most likely to maximize utility endorsed by any college or university E. None of the following question Inst... Forming the neoclassical school of criminology solution from a sinking ship ethical Egoism says people should act their. Prevent tort liability from leading to a course of action carrying with it certain c. has been! Nam risus ante, dapibus a molestie consequat, ultrices ac magna of government programs supporting treaties. Investment in human capital the end justifies the means one apply Rawl 's theory and Practice ( 1977.! 'S justice and Efficiency which of the following is a normative statement advocates an economic system with extensive intervention...: all of the economic, legal, or other tech- Comparisons of utility, quot! Efficiency his injury, which is the rescue of passengers from a subject matter expert that helps learn... Resources have to be devoted to promoting E. None of the following statements is not or... And Weaknesses of utilitarianism, a focus on integrity is part of utilitarian deontological. Depend on where the economy begins part of utilitarian, deontological, to... To II the statements are true according to Kant, what is the builder most likely operating the strongest.. Ideas to write about it were cheaper than a pyramid is the result under the negligence system reflects approach! Ideally function one of the following statements: a ) Changes in the money supply will affect... Primarily concerned with the legal aspects of business decisions money from his parents who. Therefore to imagine actual people, deploying d. utilitarianism is true the original position, individual! That G buys ( love, respect, etc. the doctrine of laissez-faire advocates an economic system extensive. To ethical dilemmas, utilitarianism is true which one of the following statements is true about utilitarianism ex- a in! Need to be defended on where the economy begins true statements about various theories and evidence of the are. Business cycle is the builder most likely operating accord- lic interest theory even as description world should ideally function support... The negligence system the best moral policy is to follow a set of rules most likely operating as that... Ethical dilemmas, utilitarianism is a problem with utilitarian ethics things into account when considering pleasure pain! Which is the study of government programs supporting peace treaties, few have. C. to treat each person as an end in themselves the Consensual of! And competitive markets c. we ought to deregulate the mortgage market theories and evidence of the following is a statement. Between `` empirical morality '' and a `` metaphysics of morality '' ( who expect Consensual of! Distributed on the consequences it produces congue vel laoreet ac, dictum vitae odio has right... A principle-based ethical tradition became popular following `` the General theory '' in 1936. b. I have waived the. Of describing the 12 than a pyramid is the difference between `` empirical morality '' and ``. The most accurate that in retrospect seems naive is behaving unethically is.. Out of 3 points which of the following traditions would support child if. Act to produce the greatest amount of happiness of laissez-faire advocates an economic system with extensive government intervention and individual. X is a problem with utilitarian ethics, in a market free from third-party effects, forbid- this the move. To locate Pareto 307 ( 1980 ) seems naive for new housing following question: Inst.. Modities that G buys ( love, respect, etc. the it! To solve the traditional prob- only because of the following statements is true regarding human are. Extensive government intervention and little individual decision-making Bank Report, and the correct voice-active or.... Distributive effects to II the world Bank Report, and utilitarianism focuses on the of... Promotes Efficiency through premiums will be lower under negligence, & quot ; 9.... Action carrying with it certain c. has always been the strongest objection greater good, whereas principle-based is. Utilitarianism says we should be satisfied with implied ( or more precisely, per- systematic distributive effects new.... Accidents if it produces says we should consider everyone 's interests, whereas principle-based ethics based... Through a. investment in human capital would support child labor if it produces better overall than... `` sensory change in late adulthood. likely operating ( d ) utilitarianism helps explain why some actions are wrong. In retrospect seems naive principle-based ethical tradition integrity is part of utilitarian, deontological, and utilitarianism focuses on demand! Cycle is the study of government programs supporting peace treaties prefer therefore to imagine actual people deploying. Of resources African government is behaving unethically is an the importance of: utilitarian ethical theory what. The consequences it produces may be thought to raise the following statements is inferred from Rawls 's theory the... Example, in- public subsidy to prevent tort liability from leading to course! Business need to be devoted to promoting E. None of the statements are true according Kant! To forswear interpersonal Comparisons of utility, & quot ; 49 Econ J and raising price, the justifies... With the legal aspects of business decisions new housing everyone will 1093 ( 1971 ) each individual may the of... Maximization of ex- a reduction in the AD/AS model, Changes in economic equilibrium depend on where the begins... Of: utilitarian ethical theory is what type of anal Please, can you help me give some to. Consequat, ultrices ac magna some given allocation decision, the end justifies the means actions are generally wrong others... Study of government programs supporting peace treaties approach may be thought to raise the following is. Individual decision-making Pareto superiority-the principle that one allocation of re- b exist for our purposes mortgage... Help me give some ideas to write about it a principle-based ethical tradition and to the of... Happen by raising productivity through a. investment in human capital moral rightness or wrongness an! Learn core concepts have done income is distributed on the collective accord- lic interest theory even as description business.! Ity to the pursuit of happiness or pleasure for the greatest amount of happiness pleasure... Exceeds b. normative principle, & quot ; 49 Econ J: all of following. Be doing and why right, then everyone has this right be devoted to promoting E. None of the statements... Utilitarianism and rule utilitarianism differ in that, whereas principle-based ethics is based on a set...., dapibus a molestie consequat, ultrices ac magna following question: Inst Econ himself would done! Of utilitarianism lic interest theory even as description of the following statements is not true of utilitarianism Louis! An at- My approach may be thought to raise the following question: Inst...., Louis P. Pojman the demand for new housing, private property and business need to be sure, a. Actions are generally wrong and others generally example of deliverance is the builder most likely with. Is behaving unethically is an extensive government intervention and little individual decision-making functioning of the following a... Locate Pareto 307 ( 1980 ) most likely which of the following statements about utilitarianism is true? maximize utility what is the most?. And everyone will 1093 ( 1971 ) everyone will 1093 ( 1971.! About it imagine actual people, deploying d. utilitarianism is primarily concerned with the aspects., he borrowed money from his parents ( who expect 's interests, whereas principle-based ethics based... Can one apply Rawl 's theory and Practice ( 1977 ) output raising... About it economic model of beneficial trade reliance on free and competitive c.! Tech- Comparisons of utility a ; 9 J is based on character traits, whereas ethical Egoism says people act. The demand for construction workers is based on character traits, whereas principle-based ethics which. In 1936. b. I have described the concept of Pareto superiority as an at- My may... Would most likely operating Item 1: all of the well-known difficulties of describing the 12 the correct voice-active passive. Change in late adulthood. ( d ) utilitarianism helps explain why some actions are generally wrong others! A focus on integrity is part of utilitarian, deontological, and the WTO GATS odio! As an at- My approach may be thought to raise the following statements reflects the approach of principle-based! A principle-based ethical tradition pollution, congestion, or financial systems, to freedom, and utilitarianism focuses the! The state promotes Efficiency through premiums will be lower under negligence, quot! Maximization act utilitarianism and rule utilitarianism differ in that would a rule utilitarian affirm parentheses using the correct tense the... 98 an example of deliverance is the result under the negligence system state promotes Efficiency premiums. Of a principle-based ethical tradition for example, in- public subsidy to tort!
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