Vikas earns too much for his own children to qualify for free school lunches, but he does not object to the state providing them for children from low income families even though this program increases the taxes he must pay. He recognizes that his and his children's life prospects are very different from those of the families receiving free lunches. He also knows that he would want his children to have free lunches if his family needed them. Vikas' thinking is most closely aligned with:
Answer: Rawlsian Justice
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A model in which individual producers act as price setters, because there are only a few sellers and the product they sell is not standardized, is called
A. perfect competition. B. monopoly. C. imperfect competition. D. monopsony.
Because many European nations have adopted the euro as their common currency, they are ________ able to conduct independent ________ policy.
A. no longer; fiscal B. increasingly; monetary C. increasingly; fiscal D. no longer; monetary
Bicycle helmet laws are designed to reduce the severity of injuries resulting from bicycle involvement in traffic accidents. In this sense, the helmet laws are reducing ________ of risky behavior
A) positive externalities B) negative externalities C) transactions costs D) the efficiency
Transfer payments are not part of government expenditure on goods and services because transfer payments
A) are not predictable given the nature of their appropriation and allocation. B) do not represent the purchase of a final good or service. C) are not always spent on goods produced in the U.S. D) The premise of the question is incorrect because transfer payments are part of government purchases of goods and services.