A Modified Version of Utilitarianism Proposed by John Rawls States

question 445

Multiple Choice

A modified version of utilitarianism proposed by John Rawls states that

• A) the distribution of the economic pie is fair if the rules are fair.
• B) the distribution of the economic pie is fair if it achieves the greatest happiness for the greatest number of people.
• C) the fair distribution of the economic pie is the one that makes the poorest person as well off as possible.
• D) goods may be transferred from one person to another only by voluntary exchange.

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Definitions:

General and Administrative Expense Budget

A financial plan that estimates the costs associated with the day-to-day operations of running a business excluding production costs.

Budget

An estimate of income and expenditure for a set period of time.

Master Budget

A comprehensive financial planning document that consolidates all of a company’s budgets for sales, production, overhead, administration, and others into one overall budget.

Safety Stock

An additional quantity of an item kept in the inventory to reduce the risk of stockouts due to uncertainties in supply and demand.