©SIRJOEL EXAM SOLUTIONS
12/3/2024 11:27AM
LUOA Economics Final exam study
Questions With Correct Answers
All worldviews must answer for philosophical dilemmas, each of which address a life concern in
a final way. What does the ontological question attempt to address a final way -
answer✔Ontology attempts to provide final answers to the question of origins, lr the ground of
being and existence
The app is molded you call the limo deals with what life question in a final way? -
answer✔Epistemology contains ultimate answers to the question "how can I know what is true"
The Axiological dilemma deals with what life-question in a final way? - answer✔Axiology
attempts to deal with issues of ultimate value.
The teleological dilemma deals with what life question in the final way? - answer✔Teleology
attempts to provide answers to question of purpose and destiny
What is meant by the phrase "institutional structure and procedure of life" - answer✔The
"institutional structure and procedure of life" is the total societal and relational expression of
answers to all the basic questions in life
The underlying Christian view of economics is: - answer✔Man is made in God's image
, ©SIRJOEL EXAM SOLUTIONS
12/3/2024 11:27AM
Which of the following represents fundamental reason as to why all poverty relief programs that
create or perpetuate dependence, reward sloth, or level those who work hard along with those
hardly work at all? - answer✔Such poverty programs do not actually enable recipients to
exercise godly dominion,
This is because such programs strike at the heart of what it means to be human - to bear the
image of God,
Typically, such programs focus too much on the power and prestige of the givers and benefactors
who have a tendency to dominate and oppress recipients
Which economic system rewards people according to the intelligence, creativity, and diligence of
their work? - answer✔Free market system
Which of the following is not a moral criteria of the free market or a necessary part of the ethical
foundations of economics? - answer✔Good intentions
According to the COR, what is Economics - answer✔Economics is the study of the principles
and methods of allocating scarce resources to achieve optimal production, distribution, and
consumption of wealth.
Where does the right to the ownership of private property originate, and which British common
law recognized? - answer✔It's origination is recorded in genesis 1:28: God establishes a general
grant of dominion to all mankind and can lawfully do so because he owns all the earth.
, ©SIRJOEL EXAM SOLUTIONS
12/3/2024 11:27AM
Which of the following is incorrect, biblically, in regards to the nature, definition, or
characterization of property? - answer✔Property, properly speaking, can be isolated to the
ownership of external, tangible, and taxable things.
In considering a biblical world view statement on property which of the following affirms the
ownership of property from the scriptures. - answer✔The ownership of property assumes that
one is Stuart property as accountable to God,
The ownership of property appears to result from the recipient of an inheritance or gifts,
The ownership of property appears to be a just reward for labor,
The ownership of property cannot be conducted through government coercion.
All of these are correct.
What is covetousness? - answer✔Covetousness is the inordinate longing for the wealth of others
and its gain through unjust means.
Fill in the appropriate blanks:
The principle of property, linked to individuality, issued fourth in an equality of civil protection
for liberty of______and the necessary freedoms to pursue______and religious duties owed to
God and neighbor. Such duties include charity and private philanthropy. - answer✔Conscience
Moral
, ©SIRJOEL EXAM SOLUTIONS
12/3/2024 11:27AM
James Madison quotes from sir William Blackstone's commentaries on the laws of England and
specifically that section which established the origin of property from Genesis 1:28. Which of
the following does not model Blackstone's use of this passage? - answer✔Blackstone understood
Genesis 1:28 as God granting man the authority to do whatever he wanted with creation. Though
God created, he left his creation to man to dispose of in whatever manner he saw fit
According to Madison, what sort of property is considered to be most valuable? -
answer✔According to Madison, the most sacred form of property is a man's conscience
According to Madison, governments are not just, nor property secure under it when: -
answer✔Governments impose arbitrary restrictions, exemptions, and monopolies and
consequently deny citizens the free use of their internal property,
Governments do not respect the rights of property and property in rights,
Governments apply on equal taxes to reward one type of property and press another,
Governments arbitrarily seize property to give to others.
All of these are correct.
According to Madison, what is the primary purpose of the civil government? - answer✔The
primary purpose of Government is the protection of man's property in both its external and
internal forms, a men's rights relative to his property and the property a man has in his rights.
12/3/2024 11:27AM
LUOA Economics Final exam study
Questions With Correct Answers
All worldviews must answer for philosophical dilemmas, each of which address a life concern in
a final way. What does the ontological question attempt to address a final way -
answer✔Ontology attempts to provide final answers to the question of origins, lr the ground of
being and existence
The app is molded you call the limo deals with what life question in a final way? -
answer✔Epistemology contains ultimate answers to the question "how can I know what is true"
The Axiological dilemma deals with what life-question in a final way? - answer✔Axiology
attempts to deal with issues of ultimate value.
The teleological dilemma deals with what life question in the final way? - answer✔Teleology
attempts to provide answers to question of purpose and destiny
What is meant by the phrase "institutional structure and procedure of life" - answer✔The
"institutional structure and procedure of life" is the total societal and relational expression of
answers to all the basic questions in life
The underlying Christian view of economics is: - answer✔Man is made in God's image
, ©SIRJOEL EXAM SOLUTIONS
12/3/2024 11:27AM
Which of the following represents fundamental reason as to why all poverty relief programs that
create or perpetuate dependence, reward sloth, or level those who work hard along with those
hardly work at all? - answer✔Such poverty programs do not actually enable recipients to
exercise godly dominion,
This is because such programs strike at the heart of what it means to be human - to bear the
image of God,
Typically, such programs focus too much on the power and prestige of the givers and benefactors
who have a tendency to dominate and oppress recipients
Which economic system rewards people according to the intelligence, creativity, and diligence of
their work? - answer✔Free market system
Which of the following is not a moral criteria of the free market or a necessary part of the ethical
foundations of economics? - answer✔Good intentions
According to the COR, what is Economics - answer✔Economics is the study of the principles
and methods of allocating scarce resources to achieve optimal production, distribution, and
consumption of wealth.
Where does the right to the ownership of private property originate, and which British common
law recognized? - answer✔It's origination is recorded in genesis 1:28: God establishes a general
grant of dominion to all mankind and can lawfully do so because he owns all the earth.
, ©SIRJOEL EXAM SOLUTIONS
12/3/2024 11:27AM
Which of the following is incorrect, biblically, in regards to the nature, definition, or
characterization of property? - answer✔Property, properly speaking, can be isolated to the
ownership of external, tangible, and taxable things.
In considering a biblical world view statement on property which of the following affirms the
ownership of property from the scriptures. - answer✔The ownership of property assumes that
one is Stuart property as accountable to God,
The ownership of property appears to result from the recipient of an inheritance or gifts,
The ownership of property appears to be a just reward for labor,
The ownership of property cannot be conducted through government coercion.
All of these are correct.
What is covetousness? - answer✔Covetousness is the inordinate longing for the wealth of others
and its gain through unjust means.
Fill in the appropriate blanks:
The principle of property, linked to individuality, issued fourth in an equality of civil protection
for liberty of______and the necessary freedoms to pursue______and religious duties owed to
God and neighbor. Such duties include charity and private philanthropy. - answer✔Conscience
Moral
, ©SIRJOEL EXAM SOLUTIONS
12/3/2024 11:27AM
James Madison quotes from sir William Blackstone's commentaries on the laws of England and
specifically that section which established the origin of property from Genesis 1:28. Which of
the following does not model Blackstone's use of this passage? - answer✔Blackstone understood
Genesis 1:28 as God granting man the authority to do whatever he wanted with creation. Though
God created, he left his creation to man to dispose of in whatever manner he saw fit
According to Madison, what sort of property is considered to be most valuable? -
answer✔According to Madison, the most sacred form of property is a man's conscience
According to Madison, governments are not just, nor property secure under it when: -
answer✔Governments impose arbitrary restrictions, exemptions, and monopolies and
consequently deny citizens the free use of their internal property,
Governments do not respect the rights of property and property in rights,
Governments apply on equal taxes to reward one type of property and press another,
Governments arbitrarily seize property to give to others.
All of these are correct.
According to Madison, what is the primary purpose of the civil government? - answer✔The
primary purpose of Government is the protection of man's property in both its external and
internal forms, a men's rights relative to his property and the property a man has in his rights.
