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
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. - 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 - Which one of the following is the best criterion of contrast between a rural and urban community ?
A. Geographic location
B. Specific size of population
C. Specific density of population
D. Diversification of occupations - If the central bank increases the money supply at the same time as the government increasing spending, it is suggested that investment will ?
A. Suffer even more
B. not be reduced as much as it would have been
C. be replaced by foreign investment
D. be replaced by consumer spending - What is called when government spending overwhelms government revenue resulting in government borrowing ?
A. Budget deficit
B. Deficient financing
C. Unbalanced spending
D. Deficit spending - Suppose two economists are arguing about policies that deal with unemployment. One economist says. The government could lower unemployment by one percentage point if it would just increase government spending by 50 billion dollars the other economist responds Nonsense and poppycock! If the government spent an additional 50 billion dollars it would reduce unemployment by only one tenth of one percent. and that effect would only be temporary! These economists ?
A. None of these answers
B. Disagree because they have different scientific judgments
C. really don’t disagree at all. It just appears that they disagree
D. disagree because they have different values - A way helping depressed regions by having wage subsidies lower business taxes and capital subsidies has been suggested as ?
A. New classical economists.
B. Left wing theorists
C. interventionist policies.
D. monetarists. - A way of helping depressed regions by having lower wages lower local taxes and lower unemployment benefit has been suggested as ?
A. market-orientated economists
B. left-wing theorists
C. Keynesian.
D. new-Keynesian - The American Marketing Association suggests a list of code of ethics All of the following are ethics suggested in the area of distribution EXCEPT ?
A. not manipulating the availability of a product for purpose of explotation
B. not using coercion in the marketing channel
C. using gray marketers whenever possible to save the consumer money
D. not exerting undue influence over the reseller’s choice to handle a product - Which school of economic thought suggested that one possible cause of inflation was a ‘push’ from the cost side ?
A. New classical economists
B. Keynesian.
C. Marxists
D. Monetarists
