BU410 Midterm Prep Day 2

One of the four key features of capitalism is

• favoritism.

• cooperation.

• inequality.

• private property.

Which statement creates the best picture of capitalism?

• Industrial capitalism is characterized by pools, trusts, holding companies, and interpenetration of banking, insurance, and industrial interests.

• Mercantile capitalism emerged in the United States in the period directly following the Civil War.

• In state welfare capitalism the government plays an active role in regulating economic activities in an effort to smooth out the boom-and-bust pattern of the business cycle.

• Financial capitalism developed in the period immediately prior to the Renaissance.

An argument that concludes that everyone benefits from living in a society where a higher portion of the population has a university degree is a utilitarian argument.

• True

• False

Rawls rejects utilitarianism because

• he saw it as a threat.

• it might permit an unfair distribution of burdens and benefits.

• governments wanted it.

• it values moral purity.

Primary social goods include

• poverty.

• freedom of religion.

• status.

• leisure time activities.

According to John Rawls, people in “the original position” choose the principles of justice solely on the basis of

• social utility.

• their religion.

• self-interest.

• their intuitive knowledge of the natural rights of all human beings.

Libertarians contend that people

• deserve what they receive from others.

• can steal the property of others to maximize the social utility of that property.

• are entitled to whatever they receive.

• are free only when they possess a minimum to survive.

In Anarchy, State and Utopia, Robert Nozick advocates

• Libertarianism.

• Kantianism.

• Utilitarianism.

• Egoism.

Who is more likely to be sympathetic to the idea of reducing the disparities of income in society?

• Utilitarians

• Robin Hood

• Liberals

• Egalitarians

According to Mill’s utilitarianism

• rights are certain moral rules, the observance of which is of the utmost importance for the long-run, overall maximization of happiness.

• there are no moral rights.

• the rights possessed by human beings remain unchanged for all times and places.

• rights are those rules that a majority of the society would agree to behind the "veil of ignorance."