John Rawls' theory of justice does not take into account the disincentive effects of redistributive programs
a. True b. False
b
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Which of the following statements best describes the difference between economic regulation and social regulation?
a. Economic regulation has little to do with price and output while social regulation explicitly deals with price and output. b. Social regulation is concerned with direct redistribution of wealth while economic regulation is concerned with accumulation of wealth. c. Economic regulation is concerned with direct redistribution of wealth while social regulation is concerned with accumulation of wealth. d. Social regulation has historically targeted industries such as railroads and airlines while economic regulation has all the industries under its purview. e. Economic regulation deals with price and output , while social regulation deals with health and safety matters that apply across several industries.
Which of the following statements was probably made by an adherent of rational expectations? a. It is rational to pursue any full employment policy because more employment is better than less
b. Unemployment is clearly a case of market failure. c. Programs designed to stimulate employment will only stimulate the price level with no employment gain. d. It is inhumane to have a single person unemployed whatever the inflation cost.
Indicate whether each of the following events would lead to depreciation or appreciation of the U.S. dollar under a system of floating exchange rates. a. A drop in U.S. interest rates relative to foreign interest rates b. An increase in the preferences of foreign citizens for U.S. goods c. Faster economic growth in the United States relative to its trading partners d. A decrease in the U.S. money supply e. Rising U.S. inflation relative to foreign inflation
What will be an ideal response?
All decisions involve opportunity cost
a. True b. False Indicate whether the statement is true or false