5. Which of the following best describes morality?OIt is defined as the standards people use to judge what is right or wrong.good or evil.O It is the study of ethical values that are perceived in an organization.() It is defined as the tool used to measure the level of social integration present in society.O It is the study of moral standards and its effect on behavior and conduct.6. A category in Disruptive Technology that makes possible one or more new technologies,processes, or åpplications. *O CatalystsMorphersEnhancersEnablers

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Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter22: Frontiers Of Microeconomics

Section: Chapter Questions

Problem 9PA

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Anastasia, Emma, and Greta are deciding what to do on a weekend getaway. They each suggest a first, second, and third choice and then vote on the options. Table 18.2 shows their first, second, and third choice preferences. Explain why they will have a hard time teaching a decision. Does the group prefer mountain biking to canoeing? What about canoeing compared to the beach? What about the beach compared to the original choice of mountain biking?
What do economists (and used-car dealers) mean by a lemon?
Is the economic model of decision-making intended as a literal description of how individuals, firms, and the governments actually make decisions?
5)Wearing seatbelts may reduce fatality rates in automobile accidents, but they may also give people a sense of safety that causes them to drive faster and take more chances. This illustrates * a)cause and effect. b)that mandatory seatbelt laws only have the intended effect of reducing fatality rates. c)that seatbelt laws do not create any benefits and they should be repealed. d)the concept of unintended consequences.
7. A common misconception is that trade takes place between two people because: A. they are willing to pay a higher price for a good than it is worth to the current owner. B. they have too much of some goods. C. they have become convinced that it is ethical to do so. D. All the above. E. B and C only.
12)Which of the following best illustrates the economic way of thinking? * a)The ability to use cartographic techniques to describe the natural and human world in maps. b)The science of predicting fish populations based on environmental conditions, population, dynamics and commercial harvest rates c)The capacity to critically evaluate art and theatre. d)The ability to look at an event, such as a cold freeze that damages the orange crop, and predict how it will affect prices and markets
# 10 An example of efficiency in economics is Select one: Satisfying wants with as many resources as possible Simplifying reality in economic models as much as possible Minimising outputs given inputs Maximising outputs given inputs
1.Define ethical issue? 2.list the categories of unethical business activities as described in the chapter? 3.what is the role of top management in organizational ethics? 4.what is a code of ethics? 5.what are the four components of social responsibility? 6. Give an example of legal but irresponsible behavior. 7. How do business carry out their social responsibilities to consumers? 8.what is corporate philanthropy? 9.Describe strategic giving? 10.what are the 4 important aspects of a social contract between employees and employers?
. Each answer should consist of one paragraph that contain analysis (not opinion). 1 Consider a highway with a hot lane and a lane that has no toll. Assuming that the toll must be paid by all cars that use the hot lane, no matter how many people are riding in them. What can you predict about the average occupancy of vehicles in the hot lane compared to vehicles in the other lane during rush hour? 2. Explain how making something illegal (like sex, booze or drugs) impacts the quality, quantity and price of the illegal substance. In addition, are there any unintended consequences of making drugs illegal that can cause harm to people? 3 Anti-fracking “Baptists” include those concerned with any further environmental degradation from extracting non-renewable resources from the earth. Identify the “bootleggers” who would support the Baptists, albeit not so publicly, but still forcefully. Why would these…
1. Describe economics as the study of "choice" and "scarcity".
3. Recycling CanFor the past 10 years, five Colorado cities have held a recycling contest to see which citydoes the best job of recycling plastic, glass, and aluminum. Those participating in thisyear’s contest are Arvada, Centennial, Lakewood, Highlands Ranch, and Parker.To make the contest fair for both large and small cities, the winning city will be the one that recycles the largest number of cans per capita—the number of cans recycled dividedby the number of city residents. 0.02 per can Recycling Can Contest City Population Jan Feb Mar Total Per Capita Arvada 15,855 10,505 24,556 12,567 Centenntial 28,951 24,567 21,777 26,719 Lakewood 142,547 102,376 105,876 121,987 Highlands Ranch 2,801,561 2,714,664 2,503,344 1,999,877 Parker 1,689,908 1,523,665 1,487,660 1,002,545 Total -…
1. How many people does it take to really communicate? Please explain. 2. In what other ways can you communicate with others? 3. Is it easier to communicate verbally or nonverbally? Why?

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