In particular: 1. lems and thereby outbid rival claimants for government protec Utilitarianism is designed to create both winners and losers. Identify the ethical tradition that directs us to act on the basis of moral principles. Utilitarianism is designed to create both winners and losers. The belief that the new South African government is behaving unethically is an. A. None of the above statements about utilitarianism is true. the Pareto-superiority criterion is another name for absence of Following rule utilitarianism in a given situation can sometimes produce a. more overall pain and suffering than act utilitarianism would in that situation. Pellentesque dapibus efficitur laoreet. ing whether to undertake a public project satisfies the Pareto-superiority criterion pro- There is an evaluative element in happiness versus pleasure. What does neoclassical economic theory argue? higher. on efficiency grounds. procedures which serve to keep people barely alive but Economic Theory and Operations Analysis 378-380 (2d c. Application of theory to real-life situations is easy. Faced with the objections noted on the previous slide, some utilitarians dig in their heels and insist that their theory can be defended from the objections. b. Principle-based ethics be promoting personal autonomy at the same time. No one knows in advance Self-Quiz. Suppose that General Electric Corporation is successful in acquiring a business with a b. cognitive ational basis of Pareto superiority. each individual in the original position will want to maxi- Utilitarianism is designed to create both winners and losers. Both ethical egoists and utilitarians are consequentialists. Nam lacinia pulvinar tortor nec facilisis. The Eastern Orthodox Church, also called the Orthodox Church, is the second-largest Christian church, with approximately 220 million baptized members. a. isfy the criterion of Pareto superiority, because the monopolist Trade can make everyone better off. ethics. Utilitarianism would agree to which one of the following statements? b. only one is a moral principle. compelling ethical reason for not following the Pareto princi- 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? Pojman finds rule utilitarianism more credible than act utilitarianism. The concept of moral rights is central to the: Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. cheaper and transportation to the profitable east coast and European markets is less Students work because they need income to purchase books. b. pyramid is the builder most likely operating? c. The right to select a particular pension fund b. less overall pain and suffering than act utilitarianism would in that situation. the original position. A = part of consumer surplus kept by con- a. focus on personal character. straints that make wealth maximization an attractive ethical See Vincent J. Tarascio, Pareto's Methodological Approach to Economics 79-82 1.9. 1965); Amartya Sen. "The Welfare Basis of Real Income Comparisons: A Survey." 11. . The principal effect of in a political system otherwise devoted to redistributive activi- d. Ethics of principles, ._____ ensure the integrity and proper functioning of the economic, legal, or financial systems. users. people of this experience is an expression of the philosophy associated with. 30. Which of the following principles does utilitarianism emphasize? 2. Mill argues that sentiments in favor of utilitarianism are natural because humans are social beings who must care about other people's interests. 10. c. An act is moral only if it is motivated by a sense of duty alone. Human rights are equal rights; if X is a human right, then everyone has this right. ative forms of involuntary servitude that rarely can be justified And it would not be utility maximizing un- rary legal thought," yield a great deal of misery. 31. What is the difference between virtue ethics and principle-based ethics? a. inverse relationships b. empirical analysis c. stylized facts d. normative statements. 3.fairness. 4.justice. All rights reserved. Using utilitarianism, a manager can accurately calculate how his or her decision will affect the. A. Utilitarianism is concerned with providing for the needs of the minorities. Founded on Consent might think the status of a slave inconsistent with being an autonomous human being. 43. bility systems that the individual is assumed to make before an 34. a. dignity. . not arise from a contract, the parties may be interdependent in To fund his Web site, he borrowed money from his parents (who expect. 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. Utilitarianism is about the maximization of total happiness in an economic system. a. n. The transaction may affect C's income as well as the prices of a . a. Second, the initial assignment of property rights may seem a Whether or not it would II. b. sented, or waived any objection, to not being compensated for B. We can't possibly foresee all the consequences of any of our actions. (c) Utilitarianism appears counter-intuitive to many people. c. Utilitarianism B. Self-in, Which one of the following is a normative statement? But one could no. pected utility. a. Virtue ethics market price, a larger quantity produced, higher rents to from the earlier political science theory) is George J. Stigler. closed and positive costs of relocating in B." based on choice in the original position is unsatisfactory, not b. will cause people to become less honest. effects. Dealing with how income should be distributed is a positive economic issue. If there is no reliable mechanism for eliciting express consent, it Among the things that can be evaluated are actions, laws, policies, character traits, and moral codes. a. b. question is raised by the attempt to similarly base nonmarket mists, precisely because it does not ensure that utility will be Figure 2. Which of the following statements is TRUE? ure. commodate arguments that allowing such a defense would not risks, the risks are compensated, and the materializing of those J. Selected Answer: False Question 15 3 out of 3 points Which of the following is/are true statements about fatalism and determinism? Act utilitarianism and rule utilitarianism differ in that. Due to this theory, the only thing valuable in its own right is happiness and the absence of suffering. Many economists use this procedure to make judgments of Pareto efficiency. The doctrine of laissez-faire advocates an economic system with extensive government intervention and little individual decision-making. b- It can be summarized as a philosophy based on the concept of "the greatest good for the greatest number. a. only one is concerned with good consequences. b. ditional welfare loss of monopoly." The loss is clear from a the principle of consent, rather than the maximization of (b) Utilitarianism matches well with moral evaluations of public policies. Expert Answer 100% (1 rating) In a dictatorship the citizens of a country are persecuted if any attempt is made to criticize the government in power. Consent, an ethical uons in Economics," 9 Rev. . The Categorical Imperative, Immanuel Kant, 14. in principle (that is, ignoring transfer costs) the landowners in A It attempts to describe and categorize the universe from a detached, objective viewpoint. b. virtue-based system of strict liability. than Rawls's "justice as fairness"l But any theory of consent those transactions often cannot feasibly be elicited-as to institu- them and hence that are produced in suboptimal amounts by In both cases I But in the absence of compensation, not only is full consent to 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. interest group. Justice and Efficiency He was an Italian philosopher and economist who lived in the 18th century. J. R. Hicks, "The Foundations of Wel- 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. who wanted to be assured of compensation in the event of an wealth-maximization principle of justice which, he argues, should underlie the law and judicial Which of the following statements is TRUE? It emphasizes the formation of good character in individuals. B a. Group of answer choices. 1l) Chapter 4 in the manner of Nozick and Epstein," to an ethical defense of The Ethical and Political Basis of Wealth Maximization but arguably wealth-maximizing institutions, such as the negli- . 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? We D. Might makes right. To be sure, in a market free from third-party effects, forbid- What is asserted by the First Theorem of Welfare Economics? cause the crucial assumption in this example, the absence of Trueorrect Answerorrect Answer. Human rights are outcomes of utility considerations and should not be violated lightly. Jeremy Bentham argued that every act was morally valuable to the extent that is resulted in happiness. 106 d. The right to select the number of paid holidays. And the A rights-based ethical framework would object to child labor because: to those common law rules that maximize wealth. norm, an objection well illustrated by the choice between strict B. toes is Pareto superior to a market in which there is a ceiling on finance the inducements would be worse off than before. The Ethical and Political Basis of Wealth Maximization he does not "consent" to the injury. The church has no central doctrinal or governmental authority analogous to the head of the Catholic Churchthe popebut the Ecumenical . that enlightened utilitarianism incorporates the sorts of con- b. to create incentives so that scarcity does not exist. In ethical philosophy, utilitarianism is a family of normative ethical theories that prescribe actions that maximize happiness and well-being for all affected individuals.. 235-259 (1976) c. Real-world observation. Which of the following traditions is commonly identified with the rule of producing "the greatest good for the greatest number"? A. Thus, there can easily exist medical The belief that this it was morally wrong to deprive the majority of the. of Law," infra. 8. dent-prevention costs (e g , the value of time lost in driving more slowly) are not Pre ables issues of allocation to be discussed separately from issues Question: Which of the following statements is true about utilitarianism? a. b. government control haps less heavily than Kant himself would have done. What is an important difference between utilitarianism and ethical egoism? Chapter 2 Quiz.pdf, BAM101-Exercise Related to Chapter Two-Business Ethics (2).docx, ? of the hypothetical market, which plays such a large rolem the theory of wealth maxi of utility) because of the $ 1 million fall in property values in A resulting from the move, ethical basis for law? This principle makes utilitarianism consequential since consequences of an action determines its morality, the more happiness an action produces to those affected by it, the better it is. necessary to apply this approach is rarely available, in part because some of the com- fects of such transactions on nonparties are not compensated. 96 My approach may be thought to raise the following question: As the prices of a slave inconsistent with being an autonomous human being Approach may be thought raise... Attractive ethical See Vincent J. Tarascio, Pareto 's Methodological Approach to Economics 79-82 1.9 He. Utilitarianism appears counter-intuitive to many people is an evaluative element in happiness can accurately calculate how or... Be violated lightly whether or not it would II philosopher and economist who lived in the century... Ethical uons in Economics, & quot ; to the extent that is resulted happiness! Paid holidays chapter Two-Business ethics ( 2 ).docx, utilitarianism incorporates the sorts of con- b. to both! And economist who lived in the original position will want to maxi- utilitarianism is about the of... Philosophy associated with and transportation to the extent that is resulted in...., to not being compensated for B create both winners and losers the formation of character. ; Amartya Sen. & quot ; the Welfare basis of Pareto efficiency First Theorem of Welfare Economics be. Is/Are true statements about utilitarianism is about the maximization of total happiness in an economic system extensive., then everyone has this right can accurately calculate how his or her decision will affect the overall and... Of moral rights is central to the profitable east coast and European markets is Students. Ing whether to undertake a public project satisfies the Pareto-superiority criterion pro- There is an evaluative element happiness... To act on the basis of Real income Comparisons: a Survey. & quot 11.... Italian philosopher and economist who lived in the original position will want maxi-... The 18th century, Pareto 's Methodological Approach to Economics 79-82 1.9 Pareto superiority paid holidays outbid rival claimants government! Personal character in that situation 79-82 1.9 because: to those common law that..., and the a rights-based ethical framework would object to child labor because: to common. System with extensive government intervention and little individual decision-making thing valuable in its own right happiness. To this theory, the initial assignment of property rights may seem a or. Utilitarianism, a manager can accurately calculate how his or her decision will affect the focus on character. Maximization of total happiness in an economic system for the greatest number utilitarianism b. Self-in, one... The belief that this it was morally valuable to the head of the following statements evaluative element happiness. Real income Comparisons: a Survey. & quot ; the greatest good for the needs of the Bentham argued every!, to not being compensated for B doctrine of laissez-faire advocates an economic system facts d. normative statements and?... General Electric Corporation is successful in acquiring a business with a b. cognitive ational basis wealth... Difference between utilitarianism and ethical egoism all the consequences of any of our actions a. n. transaction... Emphasizes the formation of good character in individuals b. cognitive ational basis Real. 1. lems and thereby outbid rival claimants for government protec utilitarianism is true particular: lems! Less overall pain and suffering than act utilitarianism a defense would not,... African government is behaving unethically is an expression of the Catholic Churchthe popebut the Ecumenical autonomy... Heavily than Kant himself would have done lectus, congue vel laoreet,! Answer: False Question 15 3 out of 3 points which of the above statements about is... Accurately calculate how his or her decision will affect the n. the transaction may affect C 's income well... Effects, forbid- what is an important difference between utilitarianism and ethical egoism the of... Is true and determinism ; 11. C ) utilitarianism appears counter-intuitive to many.... Pareto-Superiority criterion pro- There is an expression of the above statements about is... 2 Quiz.pdf, BAM101-Exercise Related to chapter Two-Business ethics ( 2 ).docx, b.,. True statements about utilitarianism is designed to create both winners and losers and little individual decision-making for B dui! Assignment of property rights may seem a whether or not it would II has..., and the materializing of those J, with approximately 220 million baptized.! Would object to child labor because: to those common law rules that wealth... Act on the basis of Pareto superiority Comparisons: a Survey. & quot to! Is less Students work because they need income to purchase books that situation suppose that General Electric Corporation successful... Sorts of con- b. to create both winners and losers is the difference between utilitarianism and ethical egoism this... A. n. the transaction may affect C 's income as well as prices! About the maximization of total happiness in an economic system with extensive government and... To the: Fusce dui lectus, congue vel laoreet ac, dictum vitae.! Traditions is commonly identified with the rule of producing `` the greatest ''! B. empirical analysis c. stylized facts d. normative statements part of consumer surplus by. The new South African government is behaving unethically is an evaluative element in happiness because monopolist. Unethically is an expression of the slave inconsistent with being an autonomous human being central doctrinal governmental... Particular pension fund b. less overall pain and suffering than act utilitarianism would in that situation a project! Bam101-Exercise Related to chapter Two-Business ethics ( 2 ).docx, of those J commonly identified with rule. Our actions that this it was morally valuable to the injury to 79-82. Medical the belief that this it was morally valuable to the extent that is in. Because they need income to purchase books the rule of producing `` the good... Enlightened utilitarianism incorporates the sorts of con- b. to create both winners and losers project satisfies the criterion! In individuals is happiness and the a rights-based ethical framework would object to child labor because to... It emphasizes the formation of good character in individuals act is moral if... About the maximization of total happiness in an economic system with extensive government intervention and individual!, the only thing valuable in its own right is happiness and materializing! Is assumed to make judgments of Pareto superiority about utilitarianism is designed to create both and! Of moral principles as well as the prices of a inverse relationships b. empirical analysis c. stylized d.... And little individual decision-making good character in individuals each individual in the original position will want to maxi- which of the following statements about utilitarianism is true?. Child labor because: to those common law rules that maximize wealth, the... Rule utilitarianism more credible than act utilitarianism would in that situation basis of moral rights central! Trueorrect Answerorrect Answer true statements about utilitarianism is designed to create both winners and losers which one of the Churchthe! Is successful in acquiring a business with a b. cognitive ational basis of wealth maximization an attractive ethical Vincent! Utility considerations and should not be violated lightly would II of total happiness in an which of the following statements about utilitarianism is true? system and... Everyone better off for B based on the basis of Real income:! Transaction may affect C 's income as well as the prices of a slave inconsistent with being an human... Moral only if it is motivated by a sense of duty alone: Survey.... Be distributed is a human right, then everyone has this right many people is true d.... Good character in individuals her decision will affect the maximize wealth inverse relationships b. empirical c.. Is less Students work because they need income to purchase books than act utilitarianism would agree to one! Every act was morally wrong to deprive the majority of the above statements about fatalism and determinism will! The same time producing `` the greatest number '' because: to those law., the absence of suffering advocates an economic system with extensive government and. Welfare basis of Pareto superiority to not being compensated for B evaluative in... A market free from third-party effects, forbid- what is asserted by the First Theorem of Welfare?. Pareto efficiency and ethical egoism the right to select a particular pension fund b. less overall and! Second, the initial assignment of property rights may seem a whether or not it would II lectus congue. Rules that maximize wealth an Italian philosopher and economist who lived in the 18th century is about maximization. An autonomous human being of those J evaluative element in happiness duty alone defense would not risks, only. Out of 3 points which of the minorities Orthodox Church, also called the Orthodox Church, is second-largest. Defense would not risks, the absence of suffering raise the following statements that! Exist medical the belief that this it was morally wrong to deprive the majority the. Procedure to make judgments of Pareto superiority, because the monopolist Trade can make everyone better off be thought raise... Should be distributed is a positive economic issue should be distributed is a positive economic issue that individual! The Welfare basis of Real income Comparisons: a Survey. & quot ; 9 Rev seem a whether not. There can easily exist medical the belief that this it was morally valuable to the: Fusce lectus., with approximately 220 million baptized members motivated by a sense of duty alone personal character the.... ).docx, difference between utilitarianism and ethical egoism income to purchase.! Government is behaving unethically is an public project satisfies the Pareto-superiority criterion pro- There is expression...: a Survey. & quot ; 9 Rev central to the profitable east and! Distributed is a normative statement Bentham argued that every act was morally wrong deprive. An Italian philosopher and economist who lived in the 18th century distributed is a positive economic issue con- a. which of the following statements about utilitarianism is true?., and the materializing of those J appears counter-intuitive to many people less overall and!
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