Many Utilitarians Would Argue That

question 33

Multiple Choice

Many utilitarians would argue that

• A) increased worker participation in industrial life is beneficial.
• B) social utility is irrelevant to issues of justice.
• C) there is already sufficiently equal distribution of income.
• D) the free trade and laissez-faire view of Adam Smith best promote the total social good.

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Definitions:

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, representing extra benefit to producers.

International Trade

The exchange of goods, services, and capital between countries and territories, often driven by comparative advantages and specialization.

Comparative Advantage

A principle in international trade that suggests a country or entity should produce and export goods and services for which it has a lower opportunity cost compared to other countries or entities.

Autarky Price

The price of a good or service in a closed economy with no international trade, set by the balance of domestic supply and demand.