Bertrand De Juvenal's Views on Income Distribution and Fairness Can

question 70

Multiple Choice

Bertrand de Juvenal's views on income distribution and fairness can best be described by the statement:

• A) The lesser individuals' duty should be to work for the well-being of the brightest individuals.
• B) A high level of income inequality is necessary to sustain the arts, beauty, education, and civilization.
• C) Society's goal should be to maximize the welfare of the least well-off, but some inequality is necessary to meet this goal.
• D) Property rights should be equally distributed, and the market should determine the distribution of income.

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Definitions:

Capital Lease

A long-term lease agreement that allows a lessee to use an asset while essentially treating it as if it were their own by recognizing it on their balance sheet.

Compounded Quarterly

The method of figuring out interest that includes both the original principal amount and the interest that has compounded from earlier periods, calculated every three months.

Long Term Liability

A financial obligation of a company that is due for a period exceeding one year, including bonds payable, long-term loans, lease obligations, and pension obligations.

Future Value

The amount of money an investment will grow to over a period of time at a specified interest or growth rate.