The Contention That Ethical Standards Should Be Governed Both by (1)a

question 38

Multiple Choice

The contention that ethical standards should be governed both by (1) a limited number of universal ethical principles that are widely recognized as putting legitimate ethical boundaries on actions and behavior in all situations and (2) the circumstances of local cultures,traditions,and shared values that further prescribe what constitutes ethically permissible behavior and what does not are the basic principles of

• A)the school of ethical relativism.
• B)the school of ethical universalism.
• C)integrative social contracts theory.
• D)the global corruption standards published by Transparency International.
• E)the Global Code of Ethical and Social Morality developed by the United Nations.

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Definitions:

Wealth Effect

A behavioral economic theory suggesting that consumers spend more as the value of their assets rises, particularly visible in the increase in spending following a rise in home values or stock market portfolios.

Interest-Rate Effect

A theory suggesting that a change in interest rates will affect the level of spending on consumer goods and services due to the changes in borrowing costs.

Aggregate-Demand Curve

A curve that shows the total quantity of goods and services that all households, companies, government, and foreign buyers will purchase at each price level.

Exchange-Rate Effect

The impact of a change in the domestic currency's value on the country's international trade balance, influenced by the relative prices of domestic and foreign goods.