Examlex
When a binding price ceiling is imposed on a market for a good, some people who want to buy the good cannot do so.
Distributional Justice
The ethical principle concerned with the fair allocation of goods, wealth, or resources among individuals in a society.
John Rawls
An American philosopher known for his theory of justice and contributions to political and moral philosophy.
Income Redistribution
The reallocation of income from certain individuals to others by means of a social mechanism such as taxation, charity, welfare, public services, land reforms, or monetary policies.
Utilitarian Justice
The idea that “a dollar in the hand of a rich person is worth less than a dollar in the hand of a poor person.” If the marginal utility of income declines with income, transferring income from the rich to the poor will increase total utility.
Q75: If the current allocation of resources in
Q173: Economists normally assume people's preferences should be<br>A)respected.<br>B)adjusted.<br>C)overruled.<br>D)ignored.
Q183: Refer to Figure 7-27. Sellers whose costs
Q296: Refer to Figure 6-21. Suppose buyers, rather
Q331: A tax burden falls more heavily on
Q333: Refer to Scenario 7-2. How much is
Q412: Refer to Figure 7-9. If producer surplus
Q427: If a tax is levied on the
Q457: Refer to Figure 6-32. If the government
Q609: Refer to Figure 6-5. If the solid