Exam 21: Economics, Ethics, and Public Policy

The maximin principle was conceived by:

The maximin principle is the idea that a government should:

Preferences over what other people do, even when their actions do not interfere in any direct way with the rest of society, are called:

A positive economic statement is:

A standard market for kidneys is currently ______ in the United States.

The maximin principle is concerned with the welfare of middle-class households in society.

What is the title of John Rawls's book about income and wealth distribution?

For Nozick, the relevant basis of the justice of wealth and income distribution is:

Positive economics involves describing, explaining, or predicting economic events.

Robert Nozick's entitlement theory would support an entrepreneur such as Bill Gates who has gotten very rich by creating things that people value.

Positive economics is:

Consider the statement: Giving an extra dollar to a homeless person provides more additional utility than giving an extra dollar to a corporate CEO. Economic theory:

Suppose you were advocating Larry Summers's view that pollution should be exported to less-developed countries. Explain how this could lead to increased economic growth in both sets of countries.

Which statement is TRUE? I. Economics can answer questions about which value judgments are most important. II. Economics cannot answer questions about what is sacred. III. Economists fail to distinguish between normative and positive economics.

Utilitarians will always favor the society that comes closest to equalizing the distribution of wealth across all individuals.

______ is about describing, explaining, or predicting economic events.

A cosmopolitan libertarian thinker would likely support:

Which statement is an example of normative economics?

Rawls's maximin principle is based on:

Utilitarians: