The "equality of opportunity" idea of fairness claims
A) a society should make the poorest as well off as possible.
B) the results and the rules should both be fair.
C) it's not fair if the rules aren't fair.
D) private property can be transferred under government order.
E) only a first-come, first-served system of allocating resources is fair.
C
You might also like to view...
The opportunity cost of going to college full time away from home includes
A) the income you could have earned from a full-time job. B) the funds you would have saved if you had not paid the tuition. C) the time you could have spent with friends back home. D) All of the above are correct.
According to Walton and Rockoff, which of the following was the most important in bringing the banking crises of the 1930s to an end?
a. the elimination of many weak banks through bankruptcy (survival of the fittest) b. the promise of federal bank deposit insurance c. New Deal spending programs d. World War II
The demand for a good is unit elastic with respect to price if the price elasticity of demand is:
A. equal to one. B. greater than one. C. greater than negative one. D. less than one.
University A sets tuition at the equilibrium level based on price and then imposes entrance requirements in the form of minimum high school GPA and SAT scores. Enrollment at this school will likely be
A) at the equilibrium level. B) below the equilibrium level because of the use of non-price rationing devices. C) above the equilibrium level because of the combination of price and the use of non-price rationing devices. D) none of the above