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Utilitarianism characterizes the moral approach taken by Ford in the infamous Pinto case study.
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- The Malthusian dilemma has proven to be correct. Group of answer choices True FalseWhich of the following theories led to widespread rejection of objective truth? Natural law theory Anarchical theory Metaphysical theory Evolutionary theoryA standard result in the Law and Economics of Crime is that if you double the fine for committing a crime and halve the probability of enforcement (e.g. fire half of the police officers responsible for this area of crime), the level of criminal activity will stay the same but the costs of enforcement will fall by 50%. Give two reasons why this might not always work.
- For questions 44 and 45 consider the following: The town of Fenerbahce has hired world-class econometricians to investigate their criminal justice system. The researchers report an interesting finding. People who were previously detected and punished by law enforcers gain a better understanding of the functioning of the law enforcement system, and are better able to exploit laws designed to protect defendants against the state. Thus, people who have been detected and punished before are better able to avoid detection and punishment. In particular, they report the following facts: The offense of jay-walking causes social harm of $100. A person who has never been punished for jaywalking before faces a 0.5 probability of being detected while jaywalking. A person who has been punished before for jaywalking faces a probability of 0.25 of being detected while jaywalking. The town wants to implement optimal punishment schemes. It is well known that everyone in Fenerbahce is risk-neutral and…Newsom has committed the state to a $990-million agreement with a China-based electric car company to produce 200 million protective masks. If you were an economics professor, what grade would you give Governor Newsom on his mask deal. Was the decision to pay high prices for PPE in the immediate aftermath of the onset of the virus a good financial decision? Is the evidence consistent with Newsom being corrupt and/or ignorant of basic economic theory?This criticism of act utilitarianism is motivated by the recognition that promoting overall utility may lead to the violation of individuals' rights. Calculation problem Inconsistency objection Moral saints problem Justice objection
- What is the key assumption in the difference-in-differences method? Two groups of people should have the same potential outcomes Two groups of people should have the same time trend in their potential outcomes Two groups of people should have the same potential outcomes before the policy is in place Two groups of people should have the same potential outcomes after the policy is in placeWhich of these is not an example of a sunk cost that is subject to poor economic decision making? a registration fee for a local 10K race A. B. C. A. D. a new laptop that you purchased for school Which of these is the best example of a framing bias? B. C. D. A. B. C. hotels that offer discounts only if you are members of certain clubs or organizations. A company specializing in foreign language lessons sells one set of lessons for $199, but all five sets of lessons purchased upfront sell for $499, a discount of nearly 50%. The company is offering this large discount in hopes that its consumers experience: D. tuition that you paid for an economics course A. an appraisal fee to determine the value of a house you are thinking of buying C. restaurants that add an automatic 18% gratuity for large groups. D. stores that advertise a low price for a specific item but do not have any left in stock. airlines that advertise low airfare but then add fees for checked bags and seat assignments. a…How would Veblen respond to the argument that the market directs self- interest toward societal interest?
- Suppose that Alex wants to purchase a boat from Rosette. Alex is willing to pay up to $18,000, while Rosette is not willing to accept any offer below $15,000. Assume that there are a finite number of negotiating rounds. 1.If the discount factors for Rosette and Alex are δR = 0.05 and δA = 0.05, respectively, how much should Alex offer for the boat? 2.Suppose that Rosette’s discount factor is δR = 0.20, and Alex’s discount factor is δA =0.15. 3.How much should Alex offer for the boat? How does this offer differ from your r to part a, and why?In a standard economic model, we generally assume the individual only cares about their own payoff. So, for example, utility of individual i is given by u = pi, where pi is the individual’s payoff. Suppose the individual is playing a dictator game with another partner j. How would you modify the utility function to explain the non-zero allocations to the partner that are typically observed?Which of the following describes features on the equilibrium outcome resulting from a decision. Pick all that apply. Multiple answers: Multiple answers are accepted for this question Select one or more answers and submit. For keyboard navigation. SHOW MORE V It is the result of the decision maker maximizing her objective subject to constraints. It is an exogenous variable. It's value depends on the values of the exogenous variables in the decision process. It's value depends on the values of the endogenous varlables in the decision process.
