Liberalism Suggests That Public Policies Should Aim to

question 267

Multiple Choice

Liberalism suggests that public policies should aim to

• A)maximize the sum of utility of everyone in society.
• B)maximize the well-being of the average person in society.
• C)maximize the well-being of the worst-off person in society.
• D)minimize the difference between the utility of the best-off person in the society and the utility of the worst-off person in society.

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Definitions:

Standard Normal

A Gaussian distribution defined by a zero mean and a one standard deviation.

Random Variable

A numerical variable influenced by the randomness of an event.

Standard Normal

A normal distribution with a mean of 0 and a standard deviation of 1, used in statistics to simplify calculations and analysis.

Random Variable

A variable with values that are numerical manifestations of random happenings.