Which of the Following Is an Argument Put Forth by Economist

question 55

Multiple Choice

Which of the following is an argument put forth by economist Milton Friedman?

• A) A law represents the minimal moral standards of society, so an individual should never take any action that violates the law.
• B) It is unethical for companies to take any action that is not in an organization's long-term self-interest.
• C) It is socially irresponsible for companies to divert time, money, and attention from maximizing profits to social causes and charitable organizations.
• D) An individual's ethical decision is based on his or her level of moral development.

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Definitions:

Absolute Purchasing Power Parity

The concept that, if transportation and transaction charges are eliminated, the price of identical items should be equivalent across countries when converted into a uniform currency.

Exchange Rate

The price at which one currency can be exchanged for another currency, influencing international trade and investment.

Bushel

A unit of volume that is used in the United States for measuring agricultural commodities, including grains and fruits.

Interest Rate Swap

A financial derivative that companies use to exchange interest rate payments on debt over a set period.