According to the Advocates of Ethical Relativism

question 22

Multiple Choice

According to the advocates of ethical relativism:

• A) if the use of underage labor and/or the payment of bribes/kickbacks are acceptable in a particular culture/society/country,then a case can be made that it is morally correct and ethical for a company to use these practices in conducting its business activities in that culture/society/country.
• B) each company should have the flexibility to set its own standards for deciding whether the use of underage labor and/or the payment of bribes/kickbacks are ethically acceptable or not.
• C) if the use of underage labor and/or the payment of bribes/kickbacks are legal in a particular country,then it is morally correct and ethical for a company to use these practices in that country,no matter what the legality of using these practices happens to be in other countries.
• D) each industry should have the flexibility to set its own standards for deciding whether the use of underage labor and/or the payment of bribes/kickbacks are ethically acceptable or not.
• E) it is very clear that the use of underage labor or the payment of bribes and kickbacks are ethically impermissible-local customs,behavioral norms,and traditions absolutely cannot be taken into account.

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Definitions:

Supply-Side Economists

Economists who believe that reducing tax rates and regulatory barriers to production are the best ways to increase economic growth.

Keynesians

Economists and theories following John Maynard Keynes, advocating for government intervention to manage economic cycles and promote full employment.

Economic Behaviorists

Researchers or economists who study the psychological, social, cognitive, and emotional factors influencing the economic decisions of individuals and institutions.

Monetarists

Economists of the view that changes in the money supply significantly affect the national output in the short term and have major impacts on the price level over extended durations.