A theory of ________ that concludes that the social contract emerging from the original position would call for an income distribution that would maximize the well-being of the worst-off member of society is known as Rawlsian justice.
A. legal equity
B. distributional justice
C. labor value
D. utilitarian justice
Answer: B
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Indifference curves describe ________
A) the relationship between current and future income B) the utility received by an individual consumer C) the relationship between utility and income D) productivity levels
A sharp increase in gasoline prices will cause the supply curve for trucking services to shift to the right
a. True b. False Indicate whether the statement is true or false
A price floor keeps a price:
a. from rising above a certain level. b. from decreasing below a certain level. c. at a stabilized point. d. from increasing or decreasing.
What does the area labeled C show?
a. increase in revenue due to change in quantity
b. decrease in revenue due to change in quantity
c. increase in revenue due to change in price
d. decrease in revenue due to change in price