Libertarians Are Insensitive to the Plight of the Poor

question 236

Multiple Choice

Libertarians are insensitive to the plight of the poor. We know this is so because they want to abolish the minimum wage. And we know they want to do this because they want to eliminate all restrictions on hiring the poor. And of course this is true because Libertarians are insensitive to the plight of the poor.

• A) No fallacy.
• B) Composition.
• C) Begging the question.
• D) Appeal to pity.
• E) Slippery slope.

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Definitions:

Below Equilibrium Price

A situation where the price of a good or service is set lower than the market equilibrium, often leading to a shortage.

Market Failure

A situation in which the allocation of goods and services by a free market is not efficient, often due to externalities, monopolies, or information asymmetries.

Efficient Outcome

An optimal allocation of resources where it is impossible to improve one party's position without worsening another's, often associated with maximized total welfare or utility in an economic context.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total net benefits to society from the trade.