Eco 6
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Questions and Answers

What is the main concern about markets and market values according to the text?

  • They are inefficient and unproductive
  • They may change the meaning of social practices and crowd out non-market norms (correct)
  • They are only applicable to material goods
  • They are only concerned with economic growth
  • What is the assumption that economists often make about markets?

  • They are only applicable to social life and civic life
  • They are always normative and change the meaning of goods
  • They are always value-neutral and do not affect the goods they exchange (correct)
  • They are always efficient and productive
  • What is the conclusion about economics as a discipline?

  • It is a value-neutral science that should be separate from moral and political philosophy
  • It is a normative science that should be connected to moral and political philosophy (correct)
  • It is an inexact science that can only be applied to material goods
  • It is an exact science that can be separated from social life and civic life
  • What is the implication of markets entering social life and civic life?

    <p>They may change the meaning of social practices and norms</p> Signup and view all the answers

    What is the concern about teaching people that black rhinos are objects of sport to be shot or prisoners?

    <p>It may change the way people value and care about non-market norms</p> Signup and view all the answers

    What is the author's view on the relationship between economics and moral and political philosophy?

    <p>Economics should be connected to moral and political philosophy</p> Signup and view all the answers

    According to the conversation, what is the main concern of Speaker C regarding auctioning off the right to kill a prisoner?

    <p>It would violate the intrinsic value of human life</p> Signup and view all the answers

    What is the underlying philosophy of Speaker B's argument in favor of auctioning off the right to kill a prisoner?

    <p>Utilitarianism</p> Signup and view all the answers

    What is the common goal of the educational programs mentioned in the conversation?

    <p>To motivate kids to study hard and get good grades</p> Signup and view all the answers

    What is the alternative approach to education mentioned in the conversation?

    <p>Using a market mechanism to pay kids to read books</p> Signup and view all the answers

    What is the possible outcome of auctioning off the right to kill a prisoner, according to Speaker B?

    <p>An increase in the jail's funds for educational programs</p> Signup and view all the answers

    What is the main difference between Speaker B and Speaker C's positions on auctioning off the right to kill a prisoner?

    <p>Speaker B prioritizes the jail's programs, while Speaker C prioritizes the prisoner's life</p> Signup and view all the answers

    What was the main difference between the first and second groups?

    <p>The first group was offered a 1% commission while the second group was offered a 10% commission.</p> Signup and view all the answers

    According to the experiment, which group raised the most money for charity?

    <p>The group that was not paid</p> Signup and view all the answers

    What is the primary theme of the discussion in the context?

    <p>The moral and civic aspects of charity work</p> Signup and view all the answers

    What is implied by the concept of 'crowding out' in the context?

    <p>The reduction of individual motivation due to external incentives</p> Signup and view all the answers

    What is the relationship between the group's motivation and the financial incentives offered?

    <p>The financial incentives decreased the group's motivation</p> Signup and view all the answers

    What is the main implication of the experiment on economics?

    <p>Economics is influenced by moral and civic values</p> Signup and view all the answers

    Markets can sometimes change the meaning of social practices and crowd out non-market norms.

    <p>True</p> Signup and view all the answers

    Economists assume that markets are always inert and do not affect the meaning of goods exchanged.

    <p>False</p> Signup and view all the answers

    The introduction of financial incentives in the charity fundraising experiment enhanced the intrinsic motivation of the participants.

    <p>False</p> Signup and view all the answers

    Economics can be considered a value-neutral science of social choice.

    <p>False</p> Signup and view all the answers

    The experiment demonstrated that the group offered a 10% commission raised the most money for charity.

    <p>False</p> Signup and view all the answers

    The value of material goods, such as cars or toasters, can change when exchanged through markets.

    <p>False</p> Signup and view all the answers

    Economists typically consider economics to be a value-neutral science of human behavior and social choice.

    <p>True</p> Signup and view all the answers

    The introduction of financial incentives in the charity fundraising experiment changed the meaning of the activity from a moral and civic project to a job.

    <p>True</p> Signup and view all the answers

    The author believes that economics should be a separate autonomous discipline.

    <p>False</p> Signup and view all the answers

    Markets can affect the meaning of goods exchanged in the same way, regardless of whether they are material or social.

    <p>False</p> Signup and view all the answers

    The experiment's results support the idea that financial incentives can enhance the utilitarian function of an activity.

    <p>False</p> Signup and view all the answers

    The concept of 'crowding out' in the context of the experiment refers to the phenomenon where financial incentives replace intrinsic motivation.

    <p>True</p> Signup and view all the answers

    Utilitarianism focuses on the well-being of the greatest number of individuals in a group.

    <p>True</p> Signup and view all the answers

    Welfarist social welfare functions prioritize individual well-being over aggregate welfare.

    <p>False</p> Signup and view all the answers

    Rawls' concept of distributive justice focuses on the well-being of the least advantaged individuals in a society.

    <p>True</p> Signup and view all the answers

    A à-la Nash social welfare function prioritizes the well-being of the most disadvantaged individuals in a society.

    <p>False</p> Signup and view all the answers

    The conversation implies that markets can be effective in achieving social and civic goals.

    <p>True</p> Signup and view all the answers

    Speaker B's argument in favor of auctioning off the right to kill a prisoner is based on a non-utilitarian philosophy.

    <p>False</p> Signup and view all the answers

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