PHI 445 Week 4 Quiz ~ ( Latest Syllabus - Updated Feb, 2015 - Perfect Tutorial - Scored 100% )

 Question 1.Which of these might be considered a social cost of a company that pollutes excessively?

•   Stockholder value inevitably goes up   
•   Increased rates of disease   
•   Increased rates of debt   
•   Decreases tax base   

Question 2.Barry inherits a great deal of money from his grandfather. He decides to hold on to it all, rather than investing it. Barry's behavior might be described as: 

•   hoarding.   
•   shorting.   
•   leveraging.   
•   divesting.   

Question 3.The effect the choice a company makes, on those who were not consulted about that choice, is known by economists as a/an: 

•   Internality.   
•   Opportunity Cost.   
•   Zero Sum Game.   
•   Externality.   

Question 4.The claim that the earth's oil supply is finite and at some point will not be able to meet demand is known as: 

•   Tapering off   
•   Endogenous Oil   
•   Peak Oil   
•   Oil Futures   

Question 5.One well-known president argued that savings during an economic downturn, such as a recession, is a bad idea. Who was this president? 

•   John F. Kennedy   
•   Lyndon B. Johnson   
•   Herbert Hoover   
•   Franklin D. Roosevelt  

Question 6.The environmental impact of something is called its: 

•   carbon footprint.   
•   marginal carbon input.   
•   carbon referendum.   
•   marginal carbon externality.

Question 7.Advocates of genetically modified foods support them because: 

•   genetically modified foods threaten biodiversity.   
•   genetically modified foods taste better.   
•   genetically modified foods cross-contaminate other foods.   
•   genetically modified foods have improved pest resistance.

Question 8.Adam Smith argues that acting in one's own interest or acting in a self-interested way: 

•   leads to socially destructive behavior.   
•   promotes the social good.   
•   interferes with good investment decisions.   
•   prevents debt from being efficiently leveraged.   

Question 9.During an economic recession, Gail plays the lottery and wins a million dollars. Rather than investing or spending this money, she decides to save it all. An economist who would insist that Gail would be acting in a way that would be more helpful economically by spending this money would be: 

•   Adam N. Smith.   
•   George R. Stigler.   
•   John M. Keynes.   
•   David A. Ricardo.   

Question 10.Robyn owns a large piece of undeveloped forest. She appreciates the beauty of the land and what it offers. In considering whether or not to develop the land into a commercial property, she does what is known as a/an: 

•   collateral-debt ratio analysis.   
•   extraction by marginal analysis.   
•   cost-benefit analysis.   
•   amortized debt leverage analysis.