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Principles of Economics Study Set 3
Quiz 20: Income Inequality and Poverty
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Question 221
Multiple Choice
The political philosophy that views the redistribution of income as a form of social insurance is
Question 222
Multiple Choice
Ms.Spring currently earns $100,000 a year,while her junior partner,Mr.Fall,earns $55,000 a year.From the perspective of a utilitarian,if both of their incomes are subject to diminishing marginal utility,taking a dollar from Ms.Spring and giving it to Mr.Fall will
Question 223
Multiple Choice
Raising the welfare of the worst-off person in society is an important goal of which political philosophy?
Question 224
Multiple Choice
In the parable of the leaky bucket,a fundamental problem with government redistribution programs is identified.As long as the government only has "leaky buckets" at its disposal,
Question 225
Multiple Choice
Liberalism is the political philosophy espoused by
Question 226
Multiple Choice
Suppose that income is subject to constant marginal utility.From a utilitarian perspective,
Question 227
Multiple Choice
Which of the following statements illustrates diminishing marginal utility?
Question 228
Multiple Choice
"An extra dollar of income gives more additional satisfaction to a poor person than to a rich person." This is an important assumption of which political philosophy?
Question 229
Multiple Choice
Liberalism is founded on a premise that behind a "veil of ignorance,"
Question 230
Multiple Choice
The maximin criterion is attributed to which political philosophy?
Question 231
Multiple Choice
The English philosophers Jeremy Bentham and John Stuart Mill founded the school of thought called
Question 232
Multiple Choice
The maximin criterion for government policies is associated with
Question 233
Multiple Choice
Suppose that income is subject to increasing marginal utility.From a utilitarian perspective,
Question 234
Multiple Choice
Suppose that Jamal is moving to a state where personal incomes are distributed randomly.If Jamal believes in liberalism,he would prefer
Question 235
Multiple Choice
A society consists of three individuals: Arthur,Billie,and Chris.In terms of income and utility,Arthur is currently best-off,Billie ranks in the middle,and Chris is worst-off.Which of the following statements is correct?