The Ethical Standards Test of Ethical Behavior in Businesses That

question 36

Multiple Choice

The ethical standards test of ethical behavior in businesses that prioritizes acting in such a way that the action taken under the circumstances could be a universal law or rule of behavior is called:

• A)the family test.
• B)the professional ethic.
• C)the Golden Rule.
• D)Kant's categorical imperative.

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Definitions:

Phillips Curves

The economic theory suggesting an inverse relationship between inflation and unemployment rates over the short-term.

Expected Inflation

The rate of inflation that consumers, businesses, and investors anticipate will occur in the future, which can influence economic behavior in the present.

Phillips Curve

An economic theory that suggests an inverse relationship between the rate of unemployment and the rate of inflation in an economy.

Sacrifice Ratio

A measure of the economic costs of reducing inflation, often represented by the loss of output or employment.