Which of the following moral theories considers the action resulting in the greatest benefit to all people as the most moral action?
a. act utilitarianism
b. rule utilitarianism
c. relativism
d. deontology
Ans: a. act utilitarianism
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Figure 5-11
In Figure 5-11, a consumer is initially at point A. There is a price change and she moves to B. It follows that
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Explain the business cycle by describing the phases and turning points
What will be an ideal response?
Suppose the price levels in an economy in four successive years are 100, 120, 133, and 140 . Which of the following is true in such a case? a. The economy is experiencing hyperinflation
b. The economy is experiencing deflation. c. The economy is experiencing inflation. d. The economy is experiencing increasing inflation. e. The economy is experiencing disinflation.
If the price level in the United States decreases, domestic goods will become relatively cheaper than foreign goods, the demand for U.S.-made goods will increase, and the U.S. aggregate demand curve will shift to the right
a. True b. False Indicate whether the statement is true or false