Advocates of "Mercantilism" Argued for All of the Following Except

question 76

Multiple Choice

Advocates of "mercantilism" argued for all of the following except

• A)governments should abstain from any involvement in the economy.
• B)a nation prosperity depended upon a plentiful supply of bullion (gold and silver).
• C)exports must exceed imports.
• D)tariffs should be place on foreign goods.
• E)governments should improve transportation facilities and grant trade monopolies to businesses.

Understand the importance of empirical investigation in ethical decision making according to utilarians.

Discuss the concept of supererogatory actions within the utilitarian framework.

Understand the fundamental principles and distinctions between Act and Rule Utilitarianism.

Assess the ethical implications of utilitarianism in various societal issues, including poverty, law enforcement, and euthanasia.

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Definitions:

Chocolate Market

The economic marketplace that encompasses the production, distribution, and sale of chocolate products.

Producer Surplus

The gap between the price at which suppliers are prepared to offer a product and the actual amount they get for it.

Upward-Sloping Supply Curve

A graph showing that as the price of a good increases, the amount suppliers are willing to produce also increases.

Producer Surplus

The dissimilarity between the baseline price producers accept for a good or service and the actual price paid to them.