Which of the following is inconsistent with Robert Nozick's view of fairness as expressed in his book Anarchy, State, and Utopia?
A) Everything that is valuable must be owned by individuals and that the state must ensure that theft is prevented.
B) The only legitimate way a person can acquire property is to buy it.
C) The requirement that all people should have equal outcomes.
D) None of the above answers is correct because all the answers express thoughts consistent with Nozick's view.
C
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A bond with a high yield
A. gives investors a high return on their investments. B. gives investors a low return on their investments. C. sells for a high price. D. sells for a low price.
Consider an economy made up of 100 people, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The number of unemployed persons is _____
a. 10 b. 15 c. 40 d. 30 e. 90
A shift to the right in the demand curve for product A can be most reasonably explained by saying that:
A. the price of A has decreased and, as a result, consumers want to purchase more of it. B. consumer incomes have declined and they now want to buy less of A at each possible price. C. consumer preferences have changed in favor of A so that they now want to buy more at each possible price. D. the price of A has increased and, as a result, consumers want to purchase less of it.
The rationing function of prices refers to the:
A. tendency of supply and demand to shift in opposite directions. B. fact that ration coupons are needed to alleviate wartime shortages of goods. C. capacity of a competitive market to equalize quantity demanded and quantity supplied. D. ability of the market system to generate an equitable distribution of income.