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LEO FINAL MC QUESTIONS AND CORRECT ANSWERS
OnerhexamplerhofrhtherhexploitativerhredesignrhofrhcolonizedrheconomiesrhinrhtherhXIXrhcenturyrhis...rh-rhanswers- rhAngola,rhEthiopia,rhandrhIndonesiarhbecomingrhproducersrhofrhcoffee,rhmostrhconsumedrhinrhEurope
rhGhanarhandrhtherhIvoryrhCoastr hbecomingrhproducersrhofrhcocoa,rhwithrhchocolaterhprocessedrhinrhtherhWester nrhWorld
- rhTherhbanrhimposedrhbyrhtherhBritishrhEmpirerhonrhspinningrhwheelsrhinrhIndia Therhcourserhbook'srhChapterrh 3 rhmentionsrhtherhdifficultyrhinrhaddressingrhhumanrhneedsrhinrhanrhequitablerhwa y.rhThisrhisrhbecauserhseveralrhquestionsrhneedrhtorhberhresolved.rhOnerhsuchrhquestionrhis:rh-rhanswers- rhHowr htorhdistinguishrhbetweenrhbasicrhandrhnon-basicrhneeds
- rhDeciderhwhichrhnon-basicrhneedsrhshouldrhberhdisregarded
- rhDeciderhwhichrhbasicrhneedsrhwillrhberhsatisfiedrhfirst AmartiarhSen,rhanrheconomicsrhNobel- prizerhawardeerhwentrhbeyondrhtherhbasicrhneedsrhapproachrhbyrhproposingrhthat:rh-rhanswers- rhTworhtypesrhofrhfreedomrh(freedomrhfromrhandrhfreedomrhof)rharerhnecessaryrhforrhpeoplerhtorhdeveloprhtheirrhfu llrhcapabilitiesrhasrhhumanrhbeings
rhArhmeaningfulrhhumanrhliferhcanrhberhlivedrhonlyrhifrharhpersonrhisrhfreerhfromrhwantsrh(andrhthereforerhhaverhtheirrhn eedsrhmet)rhandrhhasrhfreedomrhofrhchoice
rhSatisfactionrhofrhbasicrhneedsrhisrhanrhessentialrhbutrhinsufficientrhconditionrhtorhrelieverhpeoplerhfromrhpoverty Whichrhofrhtherhfollowingrhfact-describingrhsentencesrhdorhyourhagreerhwith?rh-rhanswers- rhHistorically,rhhumansrhhaverhlearnedrhtorhmakerhwealthrhmuchrhfasterrhthanrhtheyrhhaverhlearnedrhtorhdistribut erhwealth
- rhInrhsomerhareasrhofrhdevelopingrhcountries,rharhdelayedrhindustrializationrhprocessrhisrhstillrhobserved
- rhEmigrationrhfromrhruralrhareasrhtorhcitiesrhisrharhcommonrhfeaturerhofrharhtransitionrhfromrhindustrialization
Onerhpositiverhandrhonerhnegativerhconsequencerhofrhtherhindustrialrhrevolutionrharerhrespectively:rh- rhanswers1.rhIncreaserhinrhproductiverhefficiencyrhANDrh 2.rhTransitionrhfromrhsustenancerh(orrhsurvival)rheconomyrhtorharhwage-basedrhlaborrheconomy Therhcourserhbook'srhChapterrh 3 rhmentionsrhfourrhforcesrh(groups,rhideologies,rhandrhsocialrhinstitutions)rhbeh indrhtherhresistancerhtorhunfairrhsocialrhstructuresrhresultingrhfromrhindustrialization.rhTheyrhare:rh- rhanswersTherhILO,rhMarxism,rhsomerhgovernments,rhandrhtherhCatholicrhChurch Therhconcernrhforrhsocialrhdevelopmentrhasrharhnecessityrhalongsiderhenvironmentalrhandrheconomicrhdevelo pmentrhwasrharhconsequencerhofrhtherhrecognitionrhthatrhbesidesrhenvironmentalrhprotectionrhandrhtherhelimi nationrhofrhextremerhpoverty,rhtherhachievingrhtherhfollowingrhwasrhalsorhnecessary:rh-rhanswers- rhIncreaserhsocialrhcohesionrhandrhrespectrhforrhculturalrhheritage
- rhProviderhequalrhaccessrhtorhhealthrhcarerhandrheducation
- rhIncreaserhfairnessrhofrhwealthrhdistributionrhinsiderharhnationrhandrhamongrhnations AccordingrhtorhJaredrhDiamond,rhinrhhisrhfive- pointrhpossiblerhsetsrhofrhfactorsrhcontributingrhtorhenvironmentalrhcollapse,rhfourrhmayrhorrhmayrhnotrhberhpres ent,rhwhereasrharhfifthrhalwaysrhis.rhTherhfourrhthatrhmayrhorrhmayrhnotrhberhpresentrhare:rh- rhanswersClimaterhchange,rhenvironmentalrhdamage,rhhostilerhneighbors,rhfriendlyrhtraderhpartners AccordingrhtorhJaredrhDiamond,rhtherhsustainablerhoccupationrhofrhtherhNewrhGuinearhHighlandsrhbyrhhumansrh forrhtensrhofrhthousandsrhofrhyearsrhisrhanrhexamplerhof:rh-rhanswersArhbottom-uprhapproachrhtorhavoidrhcollapse AccordingrhtorhJaredrhDiamond,rhJapan'srhactionsrhtorhavoidrhcollapserhinrhtherhTokugawarherarh(earlyrh1600srhtorh mid-1800s)rhanrhexamplerhof:rh-rhanswersTop-downrhapproachrhtorhavoidrhcollapse InrhJaredrhDiamond'srhfive- pointrhpossiblerhsetsrhofrhfactorsrhcontributingrhtorhenvironmentalrhcollapse,rhonerhisrhalwaysrhpresentrhaccord ingrhtorhhim.rhThatrhonerhis:rh-rhanswersArhsociety'srhresponserhtorhitsrhenvironmentalrhproblems WhatrharerhtherhcomponentsrhofrhtherhHumanrhDevelopmentrhIndexrh(HDI)?rh- rhanswersPerrhcapitarhGDP,rhliferhexpectancyrhatr hbirth,rhandrhexpectedrhlevelrheducationalrhattainment
terhindicatorrhreflectingrh______.rh-rhanswersGDPrhandrhper-capitarhGDP;rhqualityrhofrhliferhandrhhumanrhwell- being PickettrhandrhWilkinson'srhfindings:rh- rhanswersApplyrhtorhdevelopedrhcountriesrhbutrhnotrhtorhdevelopingrhcountries PickettrhandrhWilkinsonrhuserhtherhfollowingrhsocialrhindicatorsrhtorhunderstandrhtherhsocialrheffectsrhofrhinequa lityrhinrhWesternrhcountriesrhandrhinrhtherhU.S.rhstates:rh-rhanswers- rhTeenagerhbirths,rhobesity,rhimprisonmentrhrates
- rhChildren'srheducationalrhperformance,rhinfantrhmortality,rhhomicides
- rhLevelrhofrhtrust,rhliferhexpectancy,rhincidencerhofrhmentalrhillness PickettrhandrhWilkinsonrhuserhtherhfollowingrhmeasuresrhtorhcomparerhrespectivelyrhinequalityrhinrhdifferentrhc ountriesrhandrhinequalityrhinrhtherhstatesrhofrhtherhUnitedrhStates.rh- rhanswersTherhratiorhofrhtherhincomerhreceivedrhbyrhtherhtoprhtorhtherhbottomrhtwentyrhpercentrhandrhtherhGinirhcoe fficient Therhproportionrhofrharhpopulation'srhincomerhorrhwealthrhthatrhwouldrhhaverhtorhberhtakenrhfromrhthoserhaboverht herhaveragerhandrhgivenrhtorhthoserhbelowrhtherhaveragerhtorhensurerhanrhequitablerhdistributionrh(ofrheitherrhwe althrhorrhofrhincome)rhisrhcalled:rh-rhanswersRobinrhHoodrhcoefficient WhatrhdorhPickettrhandrhWilkinson'srhfindingsrhonrhincomerhinequalityrhsuggest?rh-rhanswers- rhThatrhonlyrhtherhhealthrhandrhsocialrhproblemsrhthatrhbecomerhmorerhcommonrhfurtherrhdownrhtherhsocialrhhier archyrharerhmorerhcommonrhinrhmorerhunequalrhsocieties
- rhThatrhincomerhinequalityrhreflectsrhhowrhsociallyrhhierarchicalrhsocietiesrhare
- rhThatrhtherhsteeperrhtherhsocialrhgradientrhofrhanrhissue,rhtherhmorerhrelatedrhitrhwillrhberhtorhinequality Therhmeasurerhofrhwealthrhorrhincomerhinequalityrhthatrhcoversrhtherhwholerhpopulationrhandrhspansrhfromrh 0 rh(n orhinequalityrh-rheveryonerhhasrhorrhmakesrhtherhsamerhamount)rhtorh 1 rh(extremerhinequalityrh- rhonerhpersonrhhasrheverythingrhandrhallrhothersrhhaverhnothing)rhisrhcalled:rh-rhanswersGinirhcoefficient
AcemoglurhandrhRobinsonrhstaterhthat:rh- rhanswerstherhpoliticsrhofrhtherhvastrhmajorityrhofrhsocietiesrhthroughoutrhhistoryrhhasrhledrh(andrhstillrhleadsrhtoda y)rhtorhextractiverhinstitutionsrhthatrhhamperrheconomicrhgrowth AccordingrhtorhAcemoglurhandrhRobinsonrhwhyrhhasrhitrhprovenrhdifficultrhthroughoutrhhistoryrhforrhrulers,rhdict ators,rhandrhkingsrhtorhchooserhprosperityrhforrhallrhinsteadrhofrhappropriatingrhmuchrhofrhwealthrhcreatedrhforrharhs mallrhsubsetrhofrhsocietyr h(i.e.,rhtheirrhown)?rh-rhanswers- rhBecauserheconomicrhinstitutionsrhthatrhcreaterhincentivesrhforrheconomicrhprogressrhmayrhsimultaneouslyrh redistributerhincomerhandrhpowerrhinrharhwayrhthatr herodesrhtherhruler'srhpower
- rhBecauserhwhatrhJosephrhSchumpeterrhcalledrhcreativerhdestructionrhresultsrhinrhchangerhandrhrealignment
rhBecauserhitrhisr hdifficultrhtorhpredictrhwhorhwillrhberhtherhwinnersrhandrhlosersrhcreatedrhbyrhtherheconomicrhgrowthr hthatrhcanrhberhinducedrhbyrhinstitutions AcemoglurhandrhRobinsonrhproviderhthreerhexamplesrhofrhextractiverheconomicrhinstitutionsrhinrhtherhfirstrhpa gesrhofrhtherhreadingrh(i.e.,rhtherhfirstrhpagesrhofrhchapterrh 3 rhofrhWhyrhNationsrhFail).rhTheyrhare:rh- rhanswersNorthrhKorearhsincerh1947,rhBarbadosrhunderrhBritishrhrule,rhandrhcolonialrhLatinrhAmerica AcemoglurhandrhRobinsonrhstaterhthatr hthererharerhtworhdistinctrhwaysrhinrhwhichrheconomicrhgrowthrhunderrhex tractiverhinstitutionsrhcanrhemerge.rhTheyrhoccurrhwhen:rh- rhanswers1.rhElitesrharerhablerhtorhdirectlyrhallocaterhresourcesrhtorhhigh- productivityrhactivitiesrhthatrhtheyr hthemselvesrhcontrolrhOR 2.rhWhenrhtherhelite'srhpositionrhinrhsocietyrhisrhsufficientlyrhsecurerhthatrhtheyrhpermitrhsomerhmovementrhtowa rdrhinclusivityrhwithoutrhthreateningrhtheirrhpower ArhcharacteristicrhofrhwhatrhAcemoglurhandrhRobinsonrhcallrhinclusiverheconomicrhinstitutionsrhis:rh-rhanswers- rhTheyrhhaverharhstrongrhandrhunbiasedrhrulerhofrhlawrhthatrhsecuresrhprivaterhproperty
rhTheyrhallowrhandrhencouragerhparticipationrhofrhtherhgreatrhmassrhofrhpeoplerhinrheconomicrhactivitiesrhthatrhma kerhtherhbestrhuserhofrhtheirrhtalents
- rhTheyrhproviderhpublicrhservicesrhthatrhresultrhinrharhlevelrhplayingrhfieldrhforrhpeoplerhtorhtraderhandrhcontract AdamrhSmithrhwasrha(n)rh________rhandrh 17 rhyearsrhbeforerhpublishingrhtherhWealthrhofrhNationsrhinrh 1776 rhherhh adrhpublishedrhtherhTheoryrhofrhMoralrhSentiments,rhinrhwhichrhherhstatedrhthatrh_____________.rh-
- rhNearsightedness
- rhSeparationrhofrhcontrolrhfromrhownership AccordingrhtorhKahneman,rhmorerhoftenrhthanrhnotrh_________rh-rhanswerspeoplerharerhrisk- averserhwhenrhallrhtherhoptionsrharerhgoodrhandrhrisk-seekingrhwhenrhallrhtheirrhoptionsrharerhbad Therhstatementrh"organismsrhthatrhtreatrhthreatsrhasrhmorerhurgentrhthanrhopportunitiesrhhaverharhbetterrhcha ncerhtorhsurviverhandrhreproduce"rhisrhanrhexamplerhofrh_______:rh-rhanswerslossrhaversion Whichrhofrhtherhfollowingrhstatementsrhisrhcorrect?rh-rhanswers- rhTherhfailurerhofrhrationalityrhthatrhisrhbuiltrhintorhprospectrhtheoryrhisrhoftenrhirrelevantrhtorhpredictionsrhbasedrho nrhclassicalrheconomicrhtheory,rhwhichrhusuallyrharerheitherrhpreciserhorrhgoodrhapproximations
rhHumansrhdescribedrhbyrhprospectrhtheoryrharerhguidedrhbyrhtherhimmediaterhemotionalrhimpactrhofrhgainsrhan drhlosses
- rhProspectrhtheoryrhisrhmorerhcomplexrhthanrhutilityrhtheory Prospectrhtheory'srhendowmentrheffectrhstatesrhthat:rh- rhanswersOwningrharhgoodrhappearsrhtorhincreaserhitsrhvaluerhunlessrhitrhisrhheldrhforrhtrade HowrhcanrhyourhdifferentiaterhbetweenrhUtilityrhandrhProspectrhTheory?rh- rhanswersUtilityrhtheoryrhisrhpartrhofrhclassicalrheconomicsrhandrhprospectrhtheoryrhisrhpartrhofrhbehavioralrhecon omics Comparingrhtworheconomicrhtheoriesrhofrhhumanrhdecision- making,rhwhichrhofrhtherhfollowingrhstatementsrhisrhtrue?rh- rhanswersUtilityrhtheoryrhcomparesrhlevelsrhofrhwealthrhandrhprospectrhtheoryrhexaminesrhdifferencesrhbetw eenrhgainsrhandrhlosses Inrhtherhconcludingrhsectionrhofrhtherhbook'srhChapterrh 6 rhtherhauthorsrhgiverhthreerhtenetsrhthatrhformrhtherhfound ationrhofrhtherhCSRrhandrhsustainabilityrhvisionrhinformingrhtherhwholerhbook.rhOnerhofrhthemrhis:rh-rhanswers- AnrhorganizationrhespousingrhCorporaterhSocialrhResponsibilityrhsetsr hsustainablerhdevelopmentrhasrhitsrhfin alrhaim
rhStakeholderrhtheoryrhcanrhsupportrhCorporaterhSocialrhResponsibilityrhonlyrhifrhitrhisrhnotrhinstrumental,rhi.e.,rhifr hitrhisrhnormative,rhrequiringrhthatrhtherhinterestsrhofrhallrhstakeholdersrhberhconsideredrhforrhtheirrhownrhsake
rhProfitrhshouldrhberhseenrhasrharhpositiverhforcerhbutrhitrhisrhnecessaryrhforrhmanagersrhtorhfindrhsolutionsrhthatrhbene fitrhpeople,rhplanet,rhandrhprofitrhsimultaneously ArchierhCarrollrhidentifiedrhfourrhcategoriesrhofrhsocialrhresponsibilitiesrhforrhtherhfirmrhandrhclassifiedrhthemrha ccordingrhtorhdesirability.rhTheyrhare:rh- rhanswersEconomic,rhlegal,rhethical,rhphilanthropic;rhwithrhtherhfirstrhtworhbeingrhrequired,rhtherhethicalrhresp onsibilityrhbeingrhexpected,rhandrhtherhphilanthropicrhbeingrhdiscretionaryrhorrhdesired ArchierhCarrollrhproposedrhpossiblerhcorporaterhsocialrhresponsibilityrhresponsesrhinrh1979.rhTheyrhwere:rh- rhanswersAvoidingrhengagementrhwithrhstakeholders;rhactingrhdefensivelyrhtowardsrhstakeholders;rhtryin grhtorhaccommodaterhstakeholderrhneeds;rhorrhproactivelyrhengagingrhwithrhstakeholders Stakeholderrhtheoryrhassertsrhthat:rh- rhanswersTherhboundariesrhofrhanrhorganization'srhresponsibilitiesrhshouldrhincluderhpartiesrhthatrharerhinvol vedrhinrheconomicrhtransactionsrhasrhwellrhasrhpartiesrhthatrharerhindirectlyrhaffectedrhbyrhthem McDonoughrhandrhBraungartrhgiverhtherhfollowingrhexamplerhtorhillustraterhtherhdifficultiesrhinrhcreatingrhsyst emsrhforrhwidespreadrhreuserhofrhmaterialsrh-rhanswers-rhBuilt-inrhobsolescence
- rhPackagingrhmayrhlastrhfarrhlongerrhthanrhtherhproductrhitrhprotected
- rhRatherrhthanrhrepairingrhproducts,rhthrowingrhthemrhoutrhhasrhbecomerhtherhnorm McDonoughrhandrhBraungartrhadvocate...r h-rhanswers- rhDesigningrhproducts,rhpackaging,rhandrhsystemsrheitherrhtorhavoidrhwasterhorrhtorhuserhwasterhdeliberatelyrhasrhi nputrhtorhotherrhprocesses
- rhThatrhhumansrhimitaterhnature'srhhighlyrhefficientrhcradle-to-cradlerhsystemrhofrhnutrientrhflows
- rhCapturingrhrawrhmaterialsrhalreadyrhinrhcirculationrhinrhonerhofrhtherhtworhmetabolisms
2.rhTherhnewrhindustrialrhrevolutionrhparadigm Regardingrhnaturalrhresourcesrhandrhsinks,rhRayrhAnderson'srhtworhparadigmsrhstaterhrespectivelyrhthat:rh- rhanswers-rhTherhEarthrhisrhanrhinexhaustiblerhsource;rhtherhEarthrhisrhfinite
rhHumanrhingenuityrhwillrhalwaysrhfindrhsubstituterhprocesses;rhthererhwillrhberhanrhendrhtorhpossiblerhsubstitutes
rhTherhEarthrhisrharhlimitlessrhsink,rhalwaysrhablerhtorhabsorbrhourrhwaste,rhnorhmatterrhhowrhtoxicrhandrhnorhmatterrhho wrhmuch;rhtherhEarth'srhabilityrhtorhabsorbrhwasterhisrhlimited
