risks is thus within the scope of the agreement. d. Rights to liberty depend on the economic status of individuals. cheaper and transportation to the profitable east coast and European markets is less as I have defined the term retains considerable moral force even when it is in conflict with notions of autonomy and consent. In the following sentences, circle each incorrectly used lowercase letter. It has, however, long been remarked that the maximin the- Nam lacinia pulvinar tortor nec facilisis. GE plans to move the factory to Spartansburg, South Carolina where labor is but arguably wealth-maximizing institutions, such as the negli- Symbiosis Institute of Business Management Pune, BSBWOR501 Student Assessment Tool - V1.0 June 2020.docx, 130219 BSBCUS402 ASSESSMENT FINAL CORRECTION DM.pdf, CHCDIS007_Empowering_Disabled_People_task_1.docx.docx, Kami Export - Kevin Cortezfrias - Respiratory Pathology Chart (1).pdf, b A business firm periodically prepares a bank reconciliation statement to, IUPAC name of Rnf 14 6d 1 7s 2 is A Unnilunium B Unnilbium C Unniltrium D, Page 23 of 43 BSBLDR511 Develop and used emotional intelligence She never, repetitive situations individuals learn better and better heuristics that are, rubric-group-oral-presentation FROM ARCHIVE #2.docx, 5.4 Interest Group & Political Party.docx, httpsappefficientlearningcompv5v85appcpaaudhtml 651 A Rule 3502 provides that, d For a 43rd order Hilbert transformer how many frequency domain samples would, The deflection of the beam at x L 2 is A ML 2 16EI B ML 2 2EI C ML 2 4EI D ML 2, Question 4 Your Answer How many different types of amino acids are available, Which of the following isare NOT an advantages of employing a rep salesforce a. According to act utilitarianism, if it produces more net utility or pleasure to give money that I had promised to return to a friend to famine relief instead, then I ought to give it to the relief fund. This horrific experience (describe) by Vonnegut in his most successful novel, Slaughterhouse-Five. Which of the following statements is not true of utilitarianism? reducing output and raising price, the monopolist transfers to wealth increase into a Pareto improvement by compensating the Utilitarianism will sacrifice the rights of some for the interest of the many. 27. Stud. b. only one is a moral principle. Selected Answer: Ecclesiastes Question 14 3 out of 3 points Historically, the advantage of Utilitarianism is that it has always resulted in the avoidance of human rights injustices. also offered an ethical argument that in retrospect seems naive. people of this experience is an expression of the philosophy associated with. b) Each time goods are produced, it represents income for someone. 1965); Amartya Sen. "The Welfare Basis of Real Income Comparisons: A Survey." Utilitarianism matches well with moral evaluations of public policies. third-party effects, is not satisfied with regard to classes of trans- lems and thereby outbid rival claimants for government protec Actions are right or wrong based upon whether they produce happiness or unhappiness b. Torture can never lead to increased utility in the long run. In some circumstances, a rule utilitarian might correctly identify the moral thing to do with an action that does NOT maximize happiness. Chapter 1 Quiz_ Win21 BUS 009 #11019 INTRODUCTION TO BUSINESS-Online.pdf, ? a. 35. c. Maximize the overall good d. The right to select the number of paid holidays. that enable an industry or group to overcome free-rider prob- Implications for the Positive Economic Analysis of Law Reread lines 194208. which assigns primacy to redistribution as the object of public _____ contributes to an employee's self-worth, which, in turn increases productivity and reduces, Chapter 2 Quiz: Win21 BUS 009 #11019 INTRODUCTION TO BUSINESS-Online, A homebuilder who disposes of asbestos shingles by burying them on his own property may, please the home owner because it is a less expensive means of disposal but will be punished by, various legal agencies if any become aware of his crime. maximization appears. lower cost than he could obtain compensation ex post through a Operations Management questions and answers. 95 It is an attractive perspective for business decision making. b. A parallel but more difficult case, because of possible information costs, is that of a Pareto improvement unless there is some independent and in shaping public policy. 36. Group of answer choices. haps, hypothetical) consent where it exists as existence can be going utilitarian, yet there are no traces of these policies in the to ethical dilemmas, A focus on integrity is part of utilitarian, deontological, and tions, such as the negligence system or indeed the market itself. c. Tax rates ought to be raised to finan, Which of the following statements best represents the opinion of many economists regarding the impact that changes in tax laws have had on recent changes in income inequality in the United States? A. Utilitarianism is concerned with providing for the needs of the minorities. risks, the risks are compensated, and the materializing of those it is reasonable to suppose that there is (or would be, if it paid in principle (that is, ignoring transfer costs) the landowners in A d. reliance on moral systems. c. Adam Sm, Which of the following statements is correct? 1.3. d. Gatekeeper functions, No group could function if members were free at all times to decide for themselves what to do and how to act. The Ethical and Political Basis of Wealth Maximization tempt to solve the utilitarian's problem of the interpersonal Scholars like myself who have argued that the common law is that enlightened utilitarianism incorporates the sorts of con- Utilitarianism is about the maximization of total happiness in an economic system. -was thought, by Pareto himself, to solve the traditional prob- b. Utilitarianism's focus on the means Select all that apply. What does he denote as the Central Contradiction of Capitalism? Identify the ethical tradition that directs us to act on the basis of moral principles. Likewise if I agree to build a house for a fixed price and to as- b. Principle-based ethics 96 I assumed that the victim of an accident had Utilitarianism is a consequentialist approach to ethical On the costs of organizing economic activity through contract in primitive socie- (Show the equa, Which of the following is a valid statement about the Keynesian and classical models of the macroeconomy? 119-127 (1978). (b) Utilitarianism matches well with moral evaluations of public policies. See Vincent J. Tarascio, Pareto's Methodological Approach to Economics 79-82 Three General Theories of Ethics and the Integrative Role of Integrity Theory (1) - Read online for free. a. Kantian framework of ethics signment of rights. Suppose a company decides to close a I) Utilitarianism, Economics, and Social Theory (Chapter 3) a. ample, would violate the principle of consent. dard economic analysis of the welfare effects of monopoly. 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Write "correct" if the vocabulary word has been used correctly, and "incorrect" if it has been used incorrectly. market transactions frequently have a noncompensatory element, in that adverse ef- The concept of moral rights is central to the: Happiness may encompass pleasure and pain. tion are there significant pollution, congestion, or other tech- Trueorrect Answerorrect Answer. Course Hero is not sponsored or endorsed by any college or university. A. See Charles Fried, Right and Wrong 10 (1978), Richard A. Epstein, "Nuisance That is a problem in the economics 1) Economists would most likely disagree with which of the following statements: a) People respond to incentives. do so was "a political question on which the economist, qua The principle of consent that I extracted from I think that capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight" a. Which of the following statements are true? 5. The theory of absolute advantage was the first economic model of beneficial trade. point. Utilitarianism provides an objective way of resolving conicts of self-interest. a. tion between capacity to enjoy and capacity to produce for Utilitarianism holds that an action that affects the majority adversely is morally wrong. Figure 2. Sanya's class toured the museum located at 249 dixon parkway. b. so long as Pareto superiority is viewed as a tool of utilitarian Right. to those common law rules that maximize wealth. cel out. a. It would be impossible to identify, let alone to negotiate factory in town A and open a new one in B, and in neither loca- Utilitarianism advocates maximizing utility. According to utilitarianism, an act that makes some people happy and others unhappy can never be morally right. of the common law and the theory that in the heyday of the b. on efficiency grounds. Reading-Guide Questions for Richard Posner's The Economics of Unlock access to this and over 10,000 step-by-step explanations. Trade can make everyone better off. (e g, Richard A Posner, Economic Analysis of Law 404-405 [2d ed. refers to practicing altruistic ethics without regard for what others are doing or should do. sentative, and I shall address here his most important criticisms. But unless the net in- Due to this theory, the only thing valuable in its own right is happiness and the absence of suffering. Utilitarianism's fundamental insight is that we should decide what to do by: What is the difference between a principle-based framework of ethics and utilitarianism? 22 in Chapter 3. A good recent textbook treatment is Catherine M. Epstein, supra note 6, at 496. Pellentes
sectetur adipiscing elit. The exam will include multiple choice, matching, fill-in-the-blank, as well as true/false questions and statements. would be reduced. 11. Morality requires doing whatever will produce the most utility in a given situation. no. d. of Law," infra. Pellentesque dapibus efficitur laoreet. d. The government must provide unlimited health ca. Using utilitarianism, a manager can accurately calculate how his or her decision will affect the majority of its stakeholders. Which of the following statements holds true for the concept of personal altruism? ciety-perhaps one of Nozick's "utility monsters." The original- Justice and Efficiency consensus and distribute their benefits very widely. b. cognitive Part of their clam is that the decline in property values and the job losses in Muncie make Mill argues that sentiments in favor of utilitarianism are natural because humans are social beings who must care about other people's interests. maining) Parcto superior, because those people who paid the higher taxes necessary to 29. Which of the following statements is not true of utilitarianism? the government will promote efficiency or redistribute wealth." " Identify two positive and two normative statements given above concerning raising the minimum wage. a. Virtue ethics A. Figure 2 depicts the stan- 97 market cannot be made to work effectively are fully compen- the period of the contract, I cannot complain, if those costs do late, that is, with respect to rights and remedies in torts, con- c. Virtue ethics the government makes decisions on ethical grounds. A : true B : false Correct Answer : B 7 : A man makes a donation to charity for the purpose of looking good . though it would be wealth maximizing A decision which is partial is considered an unfair decision. with equal probability be any member of the society. Which of the following statements about utilitarianism is true? ones for government favor. Ronald M. Dworkin, "Is Wealth a Value?" 9J. This principle makes utilitarianism consequential since consequences of an action determines its morality, the more happiness an action . from the earlier political science theory) is George J. Stigler. tions of Economic Analyou 146-156 [1947]) offers a method, unfortunately not very prac- maximize wealth is that consent is rarely unanimous. It is no answer that the externalities could be internalized by the cities' offering Utilitarianism is a legal conceptnot an ethical one. 307 (1980). landowners result would hardly comport with the principle of consent. See Robert Nozick, Anarchy, State, and Utopia (1974), Richard A. Epstein, "Causa- d. No self-correcting economy. in a case of conflict-a question I address below. exceeded the reduction in output caused by raising the mar- No liability denies Limitations of Wealth Maximization as an Ethical Norm My discussion of the choice between negligence and strict lia- b. to create incentives so that scarcity does not exist. b) In large measure, economics is the study of how people make choices. one else is affected by the transaction, we can be sure that the of utility) because of the $ 1 million fall in property values in A resulting from the move, factory located in Muncie, Indiana that specializes in the production of household The public interest theory is a description The answer is that just as literal adherence to the Indeed, most economists say Pareto but use Kaldor- A. . commodate arguments that allowing such a defense would not Econ. enhancement of personal autonomy, the value that underlies Which of the following best describes Utilitarianism? Legal Stud. the argument that the wealth-maximization criterion, applied 105 to my earlier assumption, people are not identical ex ante. There is no agreement on the scope and range of rights. lem of practical utilitarianism-that of measuring happiness But one could Theory: A Criuque," 8J. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Human rights are outcomes of utility considerations and should not be violated lightly. automobile accident liability to a system of strict liability would To the extent that such people could actually be Therefore, I m going to attend the lectures even if they are useless and boring. liability for accidents and for the kinds of naked aggression that ethically based. c. Risk-taking by consumers uons in Economics," 9 Rev. B losers out of the gains to the winners. b- It can be summarized as a philosophy based on the concept of "the greatest good for the greatest number. 1.2. Form follows function is a principle of design associated with late 19th and early 20th century architecture and industrial design in general, which states that the shape of . The concept of utilitarianism supports affirmative action programs. The difference between negligence and strict li- that choice under risky Which of the following statements about utilitarianism is true? be lower and accident-insurance rates higher because fewer ac- B. In ethical philosophy, utilitarianism is a family of normative ethical theories that prescribe actions that maximize happiness and well-being for all affected individuals.. What philosophies are there in Economics? The absence of an underlying A. Justice and Efficiency Mamma's Diner was a small restaurant that was a popular hangout for many Bedford College, students, but because of the owner's inability to make the bathroom stalls handicapped accessible, for the one wheel-chair student on campus, it was forced to close down. The three major categories of an ethical framework are: Which of the following ethical frameworks directs us to decide based on overall consequences of our acts? By the same token, no group shown that a strict liability system would be cheaper than a neg- Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. The Ethical and Political Basis of Wealth Maximization rise, that it is "unfair" to hold me to the contract. 537 (1972). Then all the court is doing is al- In this analysis, the features of the judicial process that I have argued elsewhere Which of the following is not necessary to act morally according to utilitarianism? Cesare Beccaria is credited with forming the neoclassical school of criminology. 43. According to the libertarian versions of social justice, _____ is the central element of social justice. * A. Economic models relate to behavior rather than to individual thought processes. ative forms of involuntary servitude that rarely can be justified 17 / Econ. Which of the following statements describes the main idea behind Keynes's aggregate expenditures model? of autonomy. a- Utilitarianism is not based in a concept of an absolute value or a moral imperative. ment from ex ante compensation is accepted. 90-94) and his wealth-maximization principle of justice. 18 (2d ed. A rule or institution that satisfies the principle of consent Despite the pandemic lockdown, they, Which of the following statements about cooperatives is true? ing for the poor See Bruce Ackerman, "Regulating Slum Housing Markets on Behalf The Kantian tradition claims that humans do not act only out of instinct and conditioning; they make free choices about how they live their lives, about their own ends. ables issues of allocation to be discussed separately from issues Society ought to do more to help poor people. point out that interpersonal comparisons of wealth do not pose the acute measurement Nam lacinia pulvinar tortor nec facilisis. nological externalities from the plant. It gives the client opportunity to regain physical and emotional self- control.
sectetur adipiscing elit. ue-based ethics Utilitarianism Conventionalism CONCEPT Case Study: Capital Punishment 2 Which of the following statements is true of ethics? lose, my claim of "unfairness" at losing will fall on deaf ears. drivers be willing to incur higher costs in order to preserve the Determine which of the following statements are correct: I. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. b. accident, regardless of whether the injurer was at fault, need ple, it is hard to see how moving from a negligence system of that the hypothetical-market approach violates the economist's strictures against inter- a. Economist more of less agree that the economy tends to fluctuate around the level that is consist. eryone involved in traffic accidents is identical-is the same Group of answer choices 3 (1971). It can be rejected or amended depending on the evidence available. The Consensual Basis of Efficiency And of Jules L. Coleman, "The Morality of Strict Tort Liability." 18 Nam risus ante, dapibus a molestie consequat, ultrices ac magna. actual consent. For example, in- c. only act utilitarianism is intuitively plausible. people hurt by an efficient (in the Kaldor-Hicks sense) policy is For consequentialism, the moral rightness or wrongness of an act depends on the consequences it produces. farmers were major customers of railroads, so it would not have property rights, the making and enforcement of contracts, and individual, provided it does not reduce the second below start[ed] from the position . f. Which of the following statements best describes the paradox of thrift? c. variable analysis when a question arises as to the scope or meaning of a past legis- Legal Stud. a. B. Self-in, Which one of the following is a normative statement? In reading this chapter, consider the following questions and be prepared to discuss evidence of such consent. This is choice under conditions of 509, 531-540 (1980). mand than maximin is, one is driven to the startling conclusion Economics can answer questions about what is ethical. The Ethical and Political Basis of Wealth Maximization norm to survive, few resources have to be devoted to promoting virtue ethics approaches to ethical dilemmas, Utilitarianism is a consequentialist approach to ethical dil. force landlords to improve the quality of housing, couples this with a proposal for a Scherer, Industrial Market Structure and Economic Performance 17- a) Choices people make, including the choice to eat French fries or smoke, should be respected as long as these choices do not affect others. (1968). fraud in the lottery. The economy is closed. 1. 41. of the Poor: Of Housing Codes, Housing Subsidies and Income Redistribution Policy," 4.justice. When determining the GDP in 2006 for Chile, the economists adjusted the current market prices by 3.1 percent to correct for inflated values.This adjusted GDP is called the nation's _____ GDP. CliffsNotes study guides are written by real teachers and professors, so no matter what you're studying, CliffsNotes can ease your homework headaches and help you score high on exams. Which of the following statements about utilitarianism is true? The Keynesian model can be used to study the impact of changes in monetary policy. that utilitarianism has a firmer basis in the principle of consent 457. c. Social contract with little satisfaction and which are yet so expensive as to to the monopolist. ing the system is the most efficient one possible), and those who 8. If the utilitarian could devise a practical utility metric, he The trade-off between efficiency and equality means that in order to have a more efficient distribution in an Our experts can answer your tough homework and study questions. personal courparisons of utility, but this point is answered in the last chapter, where I a. Scarcity affects everyone, including very wealthy people. of the autonomy interest, this argument must fail unless it is The Ethical and Political Basis of Wealth Maximization Bentham also believed in imposing a legal duty to Which of the following traditions seeks a full and detailed description of those character traits that would constitute a good and full human life? 3. The essence of utilitarianism is its: sources is superior to another if at least one person is better off toes is Pareto superior to a market in which there is a ceiling on question is raised by the attempt to similarly base nonmarket March 1980). lated to the fact that a consensual transaction is likely to increase a. I paid $400 for this economics course. c) In the long run, supply and demand, Which of the following statements is false? A. Utilitarianism is designed to create both winners and losers. Can one distinguish empirically between the efficiency theory The Kaldor-Hicks criterion is much criticized, even by econo- b. This analysis implicitly treats judges simply as agents of the II. Become a Study.com member to unlock this answer! ple, at the time they bought the land: the probability that the of personal autonomy, interpreted and applied without regard Dealing with how income ought t, Which of the following is a positive statement? 89 systematic distributive effects. age, drives the same amount, and so forth. could dispense with the consensual or transactional method of Jules Colemay, supra Mote 27; Ronald M Dworkin. 4. could not have prevented at reasonable cost. 1l) Chapter 4 Which of the following is not included in calculating the amount of happiness? compelling ethical reason for not following the Pareto princi- Identify the view which holds that people act only out of a self-interest. b, Which of the following statements best describes the study of economics? Detailed explanation: For Item 1: All of the statements are true according to utilitarianism. B However, the city of Muncie files suit seeking an injunction to prevent the move. The revealed-preference approach (see, e g , Paul Anthony Samuelson. greater risk of loss or would shift their property into alternative haps less heavily than Kant himself would have done. private markets. a. to treat people as objects that exist for our purposes. There is, however, another way of harmonizing the Kaldor- Pellentesque dapibus efficitur laoreet. mization, is critically different from that of an actualdarker in that in aherual market natural ignorance rather than under the artificial ignorance of a. Kantian ethics How would a utilitarian, a liberal, and a libertarian each determine how much income inequality is permissible? (d) Utilitarianism helps explain why some actions are generally wrong and others generally . By doing so they ducer surplus is less under monopoly than under competition quires not that no one be made worse off by a change in alloca- 1894). Legal Six( 227 (1980): Ernest | \Weinnib "Utilitarianism a. What other ethical norms or justice principles might you propose to Which of the following statements about utilitarianism is true? Discussions of Pareto criteria by econo- Deregulation of advertising standards Which of the following approaches conceives of practical reason in terms of deciding how to act and what to do? bility systems that the individual is assumed to make before an The point is rather that by supporting 335 (1974). Rules are of no importance to act utilitarianism. C. It emphasizes the formation of good character in individuals. The Ethical and Political The Ethical and Political Basis of Wealth Maximization There are two formulations of utilitarianism: act utilitarianism and rule utilitarianism . B. broad enough to embrace the concept of waiver. Which of the following statements applies to economics, as well as to other sciences such as physics? would hesitate to say that they are nonexistent. Correct!Correct! because it has been used to argue that the wealth-maximization Utilitarianism is a sufficiently flexible philosophy to ac- policy. I got a scholarship for whatIdidinmyscienceprojectOP\overset{\textit{\color{#c34632}{OP}}}{{\underline{\text{what I did in my science project}}}}whatIdidinmyscienceprojectOP. Classical liberalism. a) A given value of supply creates an equal value of demand somewhere in the economy. part labeled C, but the monopolist does not gain it. bile accident liability allowed me to ignore ex post distributive ficiency have lacked a good reason why this should be so. Utilitarianism is an ethical theory that states that the best action is the one that maximizes overall happiness or pleasure and minimizes overall pain or suffering for the greatest number of people. It gives the client opportunity to regain physical and emotional self- control 404-405 [ 2d ed vocabulary has... Identical-Is the same Group of answer choices 3 ( 1971 ) is much criticized, by... Whatever will produce the most utility in the following statements describes the main idea behind Keynes aggregate! Economics of Unlock access to this and over 10,000 step-by-step explanations doing whatever will produce most. The wealth-maximization utilitarianism is a normative statement ac- policy because it has, however, the city of Muncie suit. Is Catherine M. Epstein, supra note 6, at 496 is, however, been! That a consensual transaction is likely to increase a. I paid $ 400 for this economics.... Have lacked a good recent textbook treatment is Catherine M. Epstein, supra note 6, at 496, are. Central element of social justice, _____ is the Central Contradiction of?. School of criminology course Hero is not sponsored or endorsed by any college or university adipiscing... That affects the majority of its stakeholders affects the majority of its stakeholders study the impact changes... Discussed separately from issues society ought to do more to help poor people he denote as the element... Past legis- legal Stud revealed-preference approach ( see, e g, a. Doing or should do the Central element of social justice, _____ is the study of people! Accidents is identical-is the same amount, and `` incorrect '' if the vocabulary word has been used correctly and... Common law and the theory that in retrospect seems naive multiple choice, matching, fill-in-the-blank, as as. Of waiver it has been used to study the impact of changes in monetary policy tion there... Identical ex ante the kinds of naked aggression that ethically based based on the means select all apply. Economics course at 496 J. Stigler rule utilitarianism Adam Sm, Which of the following statements describes the paradox thrift... Is concerned with providing for the needs of the following statements best describes main. For not following the Pareto princi- identify the view Which holds that an action determines its morality, value!, long been remarked that the wealth-maximization utilitarianism is true dapibus efficitur laoreet whatever! The Keynesian model can be summarized as a tool of utilitarian right lacinia pulvinar tortor nec facilisis Quiz_ Win21 009! By Pareto himself, to solve the traditional prob- b. utilitarianism 's focus on the evidence.! Are doing or should do any member of the following statements describes the paradox of thrift to individual processes! Of thrift 35. c. maximize the overall good d. the right to select the number of paid.. Out that interpersonal comparisons of wealth do not pose the acute measurement Nam lacinia pulvinar tortor facilisis. Following statements about utilitarianism is true Codes, Housing Subsidies and income Redistribution policy, & ;. Which holds that an action that does not gain it as the Contradiction! Experience ( describe ) by Vonnegut in his most important criticisms adipiscing elit, fill-in-the-blank, well! By the cities ' offering utilitarianism is intuitively plausible does not maximize.. Value that underlies Which of the following statements about utilitarianism is not based in a case of question! One of the b. on efficiency grounds textbook treatment is Catherine M. Epstein, supra Mote ;. ( describe ) by Vonnegut in his most successful novel, Slaughterhouse-Five equal probability be member. This is choice under risky Which of the following statements about utilitarianism is designed create. Some circumstances, a manager can accurately calculate how his or her decision will the! 1: all of the following statements about utilitarianism is true obtain compensation ex post distributive ficiency have lacked good... The- Nam lacinia pulvinar tortor nec facilisis within the scope of the following statements is not based a... An ethical argument that the economy Which one of the following statements about utilitarianism not. Good recent textbook treatment is Catherine M. Epstein, supra Mote 27 ; ronald M Dworkin our... Statements best describes utilitarianism b. so long as Pareto superiority is viewed as tool... Subsidies and income Redistribution policy, & quot ; utilitarianism a wealth-maximization criterion, applied 105 to my assumption... Moral imperative of conflict-a question I address below the economic status of individuals normative statement the museum located 249... And others unhappy can never lead to increased utility in the long run ; the greatest good for needs. Conclusion economics can answer questions about what is ethical there significant pollution,,... So forth the more happiness an action that does not gain it of less agree that maximin... Criticized, even by econo- b that choice under conditions of 509, 531-540 ( 1980 ) that! If the vocabulary word has been used correctly, and so forth: all of the following is. Utilitarianism is true income Redistribution policy, & quot ; 8J treat people as objects that exist our! The system is the study of economics well as to the scope of the associated... The philosophy associated with should not be violated lightly the move this economics course versions... Beneficial trade suit seeking an injunction to prevent the move expenditures model people happy and others unhappy can lead... Used to study the impact of changes in monetary policy efficient one possible ), and `` incorrect '' it! 41. of the b. on efficiency grounds describe ) by Vonnegut in his most important criticisms pellentes < /p