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andrey2020 [161]
3 years ago
13

Which one of the following is NOT one of the arguments against social responsibility as used by economist Milton Friedman?

Business
1 answer:
777dan777 [17]3 years ago
6 0

Answer:

B) Businesses can actually do very little in terms of social responsibility.

Explanation:

Milton Friedman is most famous for the defense of the Chicago School economics which is a neoclassical approach to macroeconomics. He favored free trade, smaller government and a slow but constant growth of the money supply. I personally disagree with neoclassical economists because they have the tendency to mess things up and time proves they are always wrong (that is a biased but positive statement). He was the father of monetarism, but if you look at his last two disciples, George Bush and George W. Bush, the outcome was not positive ⇒ 3 deep recessions in 3 presidential terms.

As a neoclassical economist, Friedman believed and argued in favor of the trickle down in economics. That means that if you allow the rich to get overwhelmingly rich, their riches will spill over to the rest of society. Not because they are good people that like to share their wealth, but because they need workers and employees to keep consuming goods and services in order to get the economy moving. Eventually the spilled over wealth should return to the top. So it is no wonder why he opposed corporate social responsibility, since wasting time and money in the community, employees or the environment was simply a waste of resources that could be used to increase stockholders' wealth.

I understand how theoretically this might work, but it takes the human factor out of the equation and expectations are extremely important in economics, that is why they always fail.

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The first step in process flowcharting is to__________ A. draw the flowchart. B. break the process down into blocks. C. assemble
stepladder [879]

Answer: D. Select an appropriate transformation process for analysis

Explanation: A flow chart also known as a flow diagram is a schematic representation of how the different stages in a process are interconnected in sequential order. flowchart is a picture of the separate steps of a process in sequential order. It can be adapted for a variety of purposes including manufacturing, administrative, services processes or project plans. The first step in flowcharting is to select the appropriate transformation process for analysis. This involves defining the processes to be diagrammed, discussing and deciding its boundaries or limits: where it would start, where it would end etc. to drawing several major blocks that represent the most important steps in the process.

5 0
3 years ago
A bond currently sells for $1,170, which gives it a yield to maturity of 5%. Suppose that if the yield increases by 30 basis poi
Grace [21]

Answer:

8.53 years

Explanation:

Calculation for the duration of the bond

The first step is to calculate for Change in Bond Price

Change in Bond Price = -(30)/1,170

Change in Bond Price = -0.0256×100

Change in Bond Price =-2.56%

Second step is to find the Effective Duration

Effective duration = -0.0256/0.0030

Effective Duration = 8.53 years

Therefore the duration of this bond will be 8.53 years

4 0
3 years ago
The agency relationship is a fiduciary relationship and is based upon trust
mario62 [17]

Answer:

True

Explanation:

Trust must exist between the agent and the client, and the agent should remain loyal to his or her client.

Agency relationships exist when an agent (a person) acts for or on behalf of his client (also referred to as the principal).

This type of relationship can only exist as long as mutual trust exists between the agent and his client.

4 0
3 years ago
In autarky, when a country maximizes its utility, its consumption point is(a)below the production possibility frontier.(b)on the
Georgia [21]

Answer:

(d)cannot tell without more information.

Explanation:

Autarkic economy is a self reliant economy, consuming entirely from its own production.

An autarkic economy maximises its utility when : Its PPF & Social Indifference Curve are tangent to each other.

  • PPF is sort of a budget constraint to economy, because it denotes maximum production potential with given resources & technology.
  • Social Indifference Curve is the curve denoting product combinations yielding same level of social satisfaction.

Their tangency gives utility maximising point with the available resources & technology.

Other options are inapt because: Production on PPF is a necessary but not sufficient condition for social utility maximisation (tangency also needed). Production under PPF reflects under utilisation of resources, cant be utility maximising. Production above PPF is unattainable.

7 0
3 years ago
All of the following insurance placements would be considered controlled business, EXCEPT:_______
sesenic [268]

Answer:

A producer places a property insurance policy on the home of his uncle.

Explanation:

The controlling producer Places insurance only with the controlled insurer, or only with the controlled

insurer and a member or members of the controlled insurer’s holding company system, or the controlled insurer’s parent, affiliate or subsidiary and receives no

compensation based upon the amount of premiums written in connection with such insurance; and accepts insurance placements only from non-affiliated subproducers, and not

directly from insureds; and the controlled insurer, except for insurance business written through a residual market

facility accepts insurance business only from a controlling

producer, a producer controlled by the controlled insurer, or a producer that is a

subsidiary of the controlled insurer.

5 0
3 years ago
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