Which of the Following Statements Is True About the United

question 61

Multiple Choice

Which of the following statements is true about the United Nations Universal Declaration of Human Rights?

• A) It transcends national borders.
• B) It states that human rights are culturally determined.
• C) It states that an action is judged desirable if it leads to the best possible balance of good consequences over bad consequences.
• D) It states that the only social responsibility of business is to increase profits, so long as the company stays within the rules of law.

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Definitions:

Monopsonist

A market condition where there is only one buyer for a product or service, giving the buyer significant power over prices and terms.

Marginal Wage Cost

The additional cost incurred by hiring one more unit of labor, reflecting the change in total wages from employing an additional worker.

Monopsonistic Labor Market

A market condition where a single buyer (employer) controls the market for labor and determines wages and employment levels.

Labor Demand Data

Information and metrics related to the number of workers employers are willing and able to hire at different wage levels, across various industries or the economy as a whole.