Rawls’s suggestion that policy should be directed at maximizing the welfare of the least well off person in society is derived from ?

A. the idea that people should consider policy as if behind a veil of ignorance as to what their circumstances might be in society, and the idea that as long as there is no theft then there is no need for governments to intervene and redistribute income.
B. the idea that people should consider policy as if behind a veil of ignorance as to what their circumstances might be in society, and the idea that people will then be particularly concerned about the possibility that they might find themselves at the bottom of the income distribution
C. the idea that people a veil of ignorance as policy as if behind a veil of ignorance as to what their circumstances might be in society, and the ignorant people should be looked after
D. the idea that everyone in society should have an equal income

Related Mcqs:

Rawls’s miximin criterion does not mean that there should be redistribution so as to equalise everyone’s incomes in society because ?
A. Such redistribution would mean that those who worked hard were no better off than those who were lazy and this would be unfair.
B. such redistribution would not maximize the total income of all members of society
C. Such redistribution would remove the incentive to work hard, so society’s total income would fall, and so the least well off person would be worse off than they could be under a system in which there was some inequality income.
D. such redistribution would amount to confiscation of honestly earned income from higher earners and so would be unjust.
The maximin criterion suggested by Rawls’s theory of justice means that the government should aim to ?
A. Maximize the total utility of society
B. Maximize the well-being of the worst-off person in society
C. minimize the difference between the rich and poor
D. maximize the economic freedom of individuals by minimizing government interference in private decision making
E. minimize the well-being of the best-off person in society
Suppose that Russia steel firms engage in dumping in the German market in terms of overall economic welfare, German welfare would _______ as the result of the dumping?
A. increase
B. decrease
C. not change
D. None of These
The market power effect of an international joint venture can lead to welfare losses for the domestic economy unless offset by cost reductions. Which type of cost reduction would not lead to offsetting welfare gains for the overall economy ?
A. R&D generating welfare improved technology
B. development of more productive machinery
C. new work rules promoting workers efficiency
D. lower wages extracted from workers
International trade tends to cause welfare losses to at least some groups in a country ?
A. The less mobile the country’s resources
B. The more mobile the country’s resources
C. The lower the country’s initial living standard
The higher the country’s initial living standard
Profit-maximizing firms want to maximize the difference between ?
A. marginal revenue and marginal cost.
B. total revenue and total cost
C. total revenue and marginal cost
D. marginal revenue and average cost
If both input and output markets are competitive and firms are profit maximizing, then in equilibrium each factor of production earns ?
A. an amount equal to the price of output times total output
B. the amount allocated by the political process
C. an equal share of output
D. the value of its marginal product
For a competitive profit-maximizing firm, the value-of-the-marginal-product curve for capital is the firm’s ?
A. supply curve of capital
B. demand curve for capital
C. production function
D. marginal cost curve
A profit-maximizing firm will hire labour until _____ equals the _______?
A. marginal revenue, marginal cost
B. long run marginal revenue, long run marginal cost
C. labor output ratio, capital output ratio
D. marginal cost of labor, marginal revenue product
A profit maximizing firm is perfect competition produces where ?
A. Total revenue is maximized
B. Marginal revenue equals zero
C. Marginal revenue equals marginal cost
D. Marginal revenue equals average cost