Miranda Has Decided to Evaluate a Decision She Made Based

question 20

Multiple Choice

Miranda has decided to evaluate a decision she made based on the ethical norm of rights.What questions should she ask?

• A)Does the decision optimize the satisfaction of all constituencies?
• B)Is the decision consistent with what we regard as fair?
• C)Does the decision respect the rights of the individuals involved?
• D)Is the decision consistent with people's responsibilities to each other?
• E)How much will the decision cost if it is wrong?

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Definitions:

Shoeleather Costs

The metaphorical cost of time and effort that people spend trying to counteract the effects of inflation, such as holding less cash and making more frequent trips to the bank.

Inflation Rates

The percentage increase in the price level of goods and services in an economy over a period of time, reflecting the rate of inflation.

Real Interest Rate

The rate of interest an investor expects to receive after allowing for inflation, reflecting the true cost of borrowing.

Nominal Interest Rate

The interest rate before adjusting for inflation; the stated interest rate of a given bond or loan.