The goal of utilitarians is to
a. punish crimes and enforce voluntary agreements but not to redistribute income.
b. redistribute income until each person has equal earnings.
c. redistribute income until the marginal utility of the wealthiest person equals the total utility of the poorest person.
d. redistribute income based on the assumption of diminishing marginal utility.
d
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The 45-degree reference line indicates all points at which
A) planned real saving and planned real investment are equal. B) planned real saving and planned real saving are equal. C) planned real consumption expenditures and real GDP are equal. D) planned real consumption expenditures and planned real saving are equal.
Assume Congress enacts a $10 billion decrease in spending and a $10 billion decrease in tax revenue. The result of this balanced-budget approach is a:
a. $10 billion decrease in aggregate demand. b. $20 billion decrease in aggregate demand. c. $100 billion decrease in aggregate demand. d. $10 billion increase in aggregate demand.
According to the Malthusian prediction in the long run: a. growth in real output of an economy would eventually become negative. b. growth in real output of an economy will eventually reach a stable level. c. scarcity would be completely eliminated
d. poverty would be completely eliminated.
The female-male wage gap in the United States
A. will likely change from negative to positive over the next decade. B. has been increasing over the last 30 years. C. has been decreasing so much that while a raw wage gap still exists it is quite small. D. is nonexistent. E. has been decreasing over the past 30 years.