Ethics and Economics go hand in hand, and this is because for one to be able to achieve the goals in economics, they will also be expected to be ethical. There are different ethical preconditions in the economy that we got to cover this week, and the quiz below will test out just how much you got to understand. Give it a try!
It expresses the image of God who "worked" in creation
It is a means of "dominion' over God's natrual resources
It is the only legitamite means of getting out of poverty
All of the above
Protestant Christian, because o the Reformation ideas
Desire willingness to work
Total amount of goods
Secular and gay, because of modern civil rights ideas
Why the idea of an objective "just price" is wrong
How we make choices
The right, goodness, or justice of economic arrangements or systems
Communism is biblical
Capitalism is against laissez faire economics
The right, goodness, or justice of economic arrangements or systems
The Federal Reserve
The Wealth of Nations
The Federal Reserve Bank
Produced equals the amount of goods the consumer buys
The way we make our choices on the budget
Offered at a given price meets the amount demanded at the same price
There will be one rate of profit throughout the market
Helps identify weaknessess in an economy by "weeding out" inefficient firms
There will be one price for everybody
There will be no chronic shortages
Law of diminishing returns" only take action when additional benefits are greater than additional costs
The value the buyer places on the last unit he is willing to buy at a given price
How we make decisions
Reached freely between two parties without deceit is just
Are fair if they are agreed to beforehand
Equality before the law will largely maintain everyone's equal chance
Capitalism
The equality of opportunity is greater than the equality of results in that everyone has a chance to change their stars, and that is justice
Economic risk-taking which recognizes new opportunities and acts on them
One's own responsibility
Recognizing new opportunities and acting on them
Based on a calling from God
Dominion over God's natural resources
The only legitimate means of getting out of poverty
All of the above
Qumraon
Not communistic, because sharing was voluntary, without any coercion
Increase in price = decrease in consumption, significant cause of greater unemployment
Least-skilled workers affected most
Racial discrimination made easier
Both a and c
The prosperity of a nation is dependent upon its supply of capital and that the global volume of international trade is "unchanging"
Commercialism
Capitalism
Worker alienation
Leads to workers with poorer overall skills
A lack of enthusiasim for their work
Federal Reserve
Total amount of goods that sellers can and will offer at a given price
Desire plus willingness and ability to pay
Common Sense
Wealth of Nations
The Pride and the Predjudice
How to be a good steward of your money
Landowners (employers) can be as generous with their money as they want
All of the above
Risk-taking
Liberation theology
Regulatory laws
Price control laws
Fair labor laws
Access/entry controls
The animal instinct
Increase and decrease bank statement
Both a and b
Dogs eat squirrels
Unemployment
Increasing the price of goods while decreasing purchasing power
Divisibly, portability
Durability
Recognition and scarcity
All of the above
Each person does little jobs that contribute to finished products
A method that breaks down the production of a commodity into a series of specific tasks each person performed by a different worker