Under the Teleological Theory,the Ethical Good of an Action Is

question 18

True/False

Under the Teleological theory,the ethical good of an action is judged by the effect of the action on others.

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Definitions:

Full Employment GDP

The total market value of all final goods and services that could be produced in a year at full employment.

Multiplier

In economics, the factor by which gains in total output are greater than the change in spending that caused it, often used in the context of fiscal policy effects.

Equilibrium GDP

The level of GDP at which total supply and total demand in the economy are equal, resulting in no inherent tendency for the economy to change its level of output.

Full Employment GDP

The maximum output that an economy can produce without causing inflation, when all available resources are utilized efficiently.