81.Which of the following statements is true? a.When one writes a naked call option it means they do not own shares of the underlying stock. b.When one writes a naked call option it means they do own shares of the underlying stock. c.Buying or selling naked options is an example of hedging. d.Buying or selling naked options is an example of speculation. e.Both (a) […]
21) The ________ are hurt by importing a good. A) domestic consumers of the good B) domestic producers of the good C) domestic governments D) foreign producers of the good E) foreign governments 22) When the United States imports goods from the rest of the world, which of the following parties is harmed? i.domestic producers of the good ii.domestic consumers of the good […]
45.In which of the following situations will an annuity table be useful? I.Calculating the net present value of an investment with equal cash flows for the first nine years, but a different flow in year 10 II.Calculating the internal rate of return of an investment with unequal cash flows each year III.Calculating the net present value of an investment with an equal cash […]
MULTIPLE CHOICE 5. A plan for the future expressed in quantitative terms is called a: A)cycle B)budget C)commentary D)mathematical model 6. Which of the following does not affect the cost of preparing a budget? A)Time and resource requirement B)The budgeting activities of competitors C)Adaptability of departments D)Motivation and behavior of individuals 7. Budgetary slack is created when: A)When the difference […]
21) A legal price floor is a A) price set by the government at which all goods or services must be legally sold. B) maximum price above which sales cannot legally be made. C) minimum price below which sales cannot legally be made. D) price above which there would be no demand. E) price below which there would be no supply. 22) In which […]
31) Which of the following correctly comments on the following statement? “The only way to increase the revenue from selling a product is to increase the product’s price.” A) It is not true. Revenue will increase as the price of the product increases only if demand is elastic. B) This statement is not true. Revenue will increase as the price of the product increases […]
51) A free lunch (the absence of a tradeoff) when the production of a good is increased is possible for the entire economy only if A) less of some product is produced. B) prices are decreased. C) prices are increased. D) resources are used inefficiently. E) there is a movement along the PPF. 52) A movement from a point inside the production possibilities frontier […]
16.6 Chapter Figures The figure above shows a firm’s demand and average total cost curves. 1) The situation in the figure above creates a barrier to entry for a second firm because i.a second firm that produced as many kilowatt-hours as the first firm would see the market price fall beneath its cost and would incur an economic loss. ii.a second firm […]
13.4 Measuring Inflation 1) The average price of goods and services in the economy is also known as A) the price level. B) the inflation rate. C) a market basket. D) the cost of living. 2) If the price level rose in three consecutive years from 100 to 120 to 140, then the annual inflation rate over those years would A) increase. B) remain […]
121) Suppose the supply curve for breakfast cereals is upward sloping. Suppose also that as average household income increases we observe a fall in the price of breakfast cereal. We can conclude that breakfast cereal is a(n) A) luxury good. B) substitute good. C) inferior good. D) normal good. E) necessity good. 122) Normal goods A) have positive income elasticity of demand. B) have […]
Topic: To Torture or Not to Torture
Note: You must read Holmes chapters 4–7 and 14 in order to complete this assignment. If you have not done so, stop now and read that material.
The ethical issue: One of the ethical controversies of recent times is the practice of using torture to obtain information from suspected terrorists or those with knowledge of terrorist activities. Some believe that the current threat of terrorism warrants such drastic means, while others believe that torture is never a justifiable manner of handling prisoners of war.
The scenario: Suppose a situation presents itself in which there are strong reasons to believe a major attack on U.S. soil is immanent and that many lives will be put in danger. Security forces have captured a terrorist and they have very good reasons to believe he has vital information that can lead to thwarting this attack. They have tried the usual means of obtaining information from the prisoner and none of them have been successful; his resolve not to talk is quite strong. However, security forces are now considering torturing the prisoner. They believe, with a high degree of probability, that torture will break his resolve and he will supply the needed information.
The question: Should they torture the prisoner?
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