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The philosopher John Rawls argued that

  The philosopher John Rawls argued that

a.people would choose income equality if they didn’t know beforehand the “agreed
upon rules” that determine people’s economic position

b.people would choose income inequality to allow the maximum use of their
individual talents would be impossible to determine beforehand how rich and poor people would
choose between income equality and income inequality

d.people, uninhibited by social convention, would choose income inequality because
they are, by nature, not inclined toward egalitarian values

e.government has a role to ensure income equality to prevent social unrest

28.              To a Marxist, income inequality derives from

a.purely random events

b.incompetent government policy

c.unequal education

d.unequal distribution of property

e.unequal abilities of individuals

29.              According to economist A. P. Lerner, taking income from a wealthy individual and
                            giving it to a poorer individual would

a.decrease the economy’s total utility

b.decrease the economy’s investment rate

c.eventually increase poverty in the economy

d.lessen the incentive to work

e.increase the economy’s total utility

30.              A critical assumption in economist A. P. Lerner’s theory explaining why society’s total
                            utility is maximized with income equality is

a.there is no “level playing field” in people’s choice of employment

b.people have identical utility functions

c.the rich earn their income by exploiting the poor

d.people have equal skills if given equal opportunity

e.the law of diminishing marginal utility does not apply to money

Dec 11 2019 View more View Less

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