Answer:
Ethical formalism is a way of describing moral judgement based on logical concepts as opposed to their content.
Explanation:
Ethical formalism is a way of describing moral judgement based on logical concepts as opposed to their content. Logic generally includes laws and universal authorization while content defines what will improve the human well-being.
Formalism has the following characteristics;
1. Formalism as a system of ethics is insist that if something is wrong or right, it is absolute and doesn't depend on the conditions. Even though conditions might vary. That is why formalism can at times be defined as an absolutist system since it doesn't consider the changing conditions with each condition.
2. Ethical formalism has a relationship with formal ethics in that they are identical but differ in the sense that formal ethics is incomplete by intention. An example is that while some universal laws that is a function of ethical formalism are universally accepted even by the system of formal ethics, the formal ethics still view these features as necessary but inadequate.
C.
A Forward Rate Agreement (FRA) is an OTC rate derivative in which the buyer will pay or receive at maturity the difference between a fixed rate and a reference interest rate applied onto either a borrowing or lending (the notional is never exchanged), for a specific period of time.
Answer:
A. Downward sloping; economies of scale
Explanation:
As the costs rise slower than quantity produced, the cost for each additional unit produced (marginal cost) is decreasing. That is when the Average Cost curve is downward sloping.
At that point the more products are made (scales of production) the lower unit cost becomes (more economic), which means economies of scale.
Answer:
Omar's plan of retaining earnings can work depending on the liquidity preference of the shareholders.
If the shareholders have interest in short-term liquidity benefit (i.e. dividend), then his plans might be frustrated and vice versa.
Answer:
The price of tee-time should be reduced by 6.67%.
Explanation:
The price elasticity of demand for tee times is –1.5.
The manager wants to increase the number of tee times sold by 10%.
The price elasticity of demand shows the change in quantity demanded due to a change in the price level. It is the ratio of the percentage change in quantity demanded and percentage change in price.
Price elasticity =
- 1.5 =