One of the problems associated with the utilitarianism is that it does not recognize that
A) taxing those with higher incomes results in less work effort.
B) each individual receives a different marginal benefit from a dollar's worth of income.
C) equity is achieved when there is no poor and no rich.
D) similar individuals should be treated the same.
A
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The fact that the incremental annual increase in budgets varies considerably by department suggests that _____
a. popular programs get more funding that unpopular programs b. incrementalism is not a complete theory of the government budget process c. special interest influence is constant d. a and b
Which of the following statements is correct?
a. For all firms, marginal revenue equals the price of the good. b. Only for competitive firms does average revenue equal the price of the good. c. Marginal revenue can be calculated as total revenue divided by the quantity sold. d. Only for competitive firms does average revenue equal marginal revenue.
The U. S. has experienced inflation every year since 1959 due to
A. a sustained increase in aggregate supply accompanied by an even larger increase in aggregate demand. B. a sustained decrease in aggregate supply. C. a sustained increase in aggregate demand accompanied by an even larger decrease in LRAS. D. a sustained decrease in aggregate demand.
Any society bound by a contract calling for an income distribution that would ________ the well-being of the worst-off member of society would allow for inequality if that inequality had the effect of ________ the lot of the very poor.
A. minimize; worsening B. minimize; improving C. maximize; improving D. maximize; worsening