Integrated Social Contracts Theory Maintains That

question 63

Multiple Choice

Integrated social contracts theory maintains that:

• A) there is no such thing as "moral free space"-all ethical standards are determined by societal norms,and individuals have an implied social contract to live up to these standards.
• B) few nations or cultures have common moral agreement on what is ethically right and wrong.
• C) there should be no absolute limits put on what actions and behaviors fall inside the boundaries of what is ethically or morally right and which actions/behaviors fall outside.
• D) adherence to universal ethical norms always takes precedence over local ethical norms.
• E) each country/culture/society has commonly held views about what constitutes ethically appropriate actions/behaviors.These common standards of what is ethical and what is not combine to form a "social contract" that all individuals in that country/culture/society are obligated to observe.

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Definitions:

Economic Conditions

The state of a country's economy, including factors like unemployment, inflation, and GDP growth.

Gold Reserves

The amount of gold held by a central bank or government to support the value of its currency and to settle debts or engage in trade.

Create Money

The process by which the central bank or financial institutions increase the money supply in the economy, typically through activities such as lending or purchasing government securities.

Demand Deposits

Bank account balances that can be withdrawn on demand with no prior notice, such as checking accounts, providing liquidity and flexibility for accountholders.