Cost benefit considerations would be most typical of which type of ethics?
a. consequentialism
b. egoism
c. kantian
d. utilitarianism
Ans: d. utilitarianism
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The above table gives the demand schedule for Billy Bob's BBQ ribs. If the price of a pound of ribs falls from $3 per pound to $1 per pound, what is the change in Billy Bob's total revenue?
A) $42 B) $24 C) -$2 D) -$24
Incentive contracts typically result in higher risk-related compensation to agents on average,
a. even so, they are always worth it b. this does not affect their desirability c. as a consequence, they may cost more than the problem they solve d. therefore, they are never worth it
If a firm in a perfectly competitive market faces a market price of $2, and it decides to increase its production from 2,000 units to 4,000 units, the firm's marginal revenue:
A. will increase from $4,000 to $8,000. B. will stay the same. C. will decrease from $8,000 to $4,000. D. None of these is true.
Automatic stabilizers are designed to
A. simplify the tax system. B. promote global trade. C. stabilize the bi-partisan budget process. D. moderate changes in disposable income.