1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
Winter Company incurred direct materials costs of $500,000 during the year. Manufacturing overhead applied was $150,000 and is a
raketka [301]

Answer:

Winter Company's total manufacturing costs for the year was $850,000

Explanation:

Manufacturing cost is the cost used to manufacture a product, both direct and indirect cost incurred in manufacturing process are included. It is the total value of material cost, labor cost and overhead cost.

Direct Material Cost = $500,000

Manufacturing overhead applied = $150,000

As we know Manufacturing overhead applied was 75% of direct Labor cost.

Direct Labor cost  = Manufacturing overhead applied / 75%

Direct Labor cost  = 150,000 / 75% = $200,000

Total Manufacturing Cost = $500,000 + $200,000 + $150,000 = $850,000

7 0
3 years ago
Marigold Corp.reported the following items for 2019: Income tax expense $50000 Contribution margin 120000 Controllable fixed cos
zmey [24]

Answer:

$40,000

Explanation:

The computation of the controllable margin is shown below:

=  Contribution margin - Controllable fixed costs

= $120,000 - $80,000

= $40,000

If we deduct the controllable fixed costs from the contribution margin then the controllable margin can be computed which shows an accurate amount.

All other information which is given is not relevant. Hence, ignored it

3 0
3 years ago
Melinda kept a record of her spending for the week. She spent $25 to put gas in the car, bought a new shirt for a total of $22.3
shtirl [24]
She spent 93.04 doing the week
4 0
3 years ago
The pattern in which a lab scope shows all the cylinders firing in sequence is called the:________
alisha [4.7K]

Answer: parade pattern

Explanation:

To evaluate condition of an ignition system, the primary tool that is typically used is the lab scope or the oscilloscope. While the time is being displayed in an horizontal manner, the voltage is being displayed in a vertical manner.

The pattern The pattern in which a lab scope shows all the cylinders firing in sequence is simply referred to as the parade pattern. It simply shows the amount of voltage that'll be needed to fire the spark plugs.

6 0
3 years ago
A monopoly is producing output so that the average total cost is $30, marginal revenue is $40, and the price is $50.
Len [333]

Answer:

B

Explanation:

In this question, we are asked to pick from the options what should serve as the point of action of the firm given the scenario painted in the question;

We proceed as follows;

ATC= 30 $

Marginal revenue(MR)= 40 $

Price(P) =50 $

For efficiency,MC=minimum ATC=30 $

MR =40 > MC=30

For profit maximization, MR =MC

So, firm should raise output ,so that MR falls and becomes equal to MC

So correct option is B.

4 0
3 years ago
Read 2 more answers
Other questions:
  • With employer-paid training, workers have the potential to become more productive not only in their present employment but also
    7·1 answer
  • Kate holds a middle-management position with a large corporation. She prefers to involve her subordinates in decision making. Sh
    13·1 answer
  • The accounts receivable balance is $1,000,000. After adjustment, the allowance for uncollectible account balance is $40,000. Net
    12·1 answer
  • The following costs and inventory data were taken from the accounts of Simon Company for 2010:
    6·1 answer
  • Nation A makes is illegal for its citizens to own more than one vehicle in order to reduce emissions. Nation A’s neighbor Nation
    15·1 answer
  • The most important agreement which codifies human rights is the:
    5·1 answer
  • Ricardo reprimanded five of his employees for coming to work drunk after a lunch outing. The next week, Ricardo fired another em
    14·1 answer
  • Nick is a recent finance graduate who has two passions: music and finance. Upon graduation, he was offered an opportunity to joi
    9·1 answer
  • Teachers at the kindergarten through high school level may deduct up to $225 of education supplies and materials cost each year
    6·1 answer
  • Enith Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts P
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!