Which of the Following Best Captures Mill's Greatest Happiness Principle

question 935

Multiple Choice

Which of the following best captures Mill's Greatest Happiness Principle?

• A) Actions are right if and only if they maximize the total amount of pleasure, minus the total amount of pain, for the person performing them.
• B) Actions are right to the extent that they promote pleasure and the absence of pain for everyone affected.
• C) Actions are right if they bring pleasure or reduce pain for more people than any available alternative.
• D) Actions are right if they are motivated by a desire to promote pleasure and reduce pain for everyone affected.

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Definitions:

Reserve Requirement

The minimum amount of reserves that banks must hold against deposits, as mandated by central banking authorities.

Money Supply

The all-encompassing amount of economic monetary assets at a designated time.

Reserve Requirements

Central bank regulations setting the minimum amount of reserves that must be held by a commercial bank.

Discount Rate

The interest rate charged to commercial banks and other financial institutions for loans received from the Federal Reserve's discount window.