A society consists of three individuals: Larry, Margaret, and Nina. In terms of income and utility, Larry is currently best-off, Margaret ranks in the middle, and Nina is worst-off. Which of the following statements is correct?
a. Utilitarianism suggests that government policies should strive to maximize the sum of all three individuals' utility.
b. Liberalism suggests that government policies should strive to maximize the sum of Larry's utility and Nina's utility.
c. Libertarianism suggests that government policies should strive to make Nina better off at the cost of Larry and Margaret.
d. Utilitarianism suggests that the government policies should strive to make Nina better off than Margaret.
a
You might also like to view...
Refer to Scenario 12.2. Explain why the situation described in the scenario is neither a prisoner's dilemma nor a battle of the sexes
What will be an ideal response?
Why might firms pay an efficiency wage rather than a market-clearing wage?
What will be an ideal response?
A price ceiling below the market clearing price results in I. excess quantity demand II. excess quantity supplied III. entry of new producers
A) I only B) II only C) III only D) Both I and III
Which of the following statements about the FDIC is untrue? a. The FDIC helps prevent bank failures. b. The FDIC was created after the surge in bank failures in the 1980s. c. The FDIC is a government agency. d. The FDIC will reimburse depositors for their losses up to $100,000 per demand deposit account
e. The FDIC conducts bank audits and examinations.