Which of the Following Describes a Fair Distribution of Outcomes

question 9

Multiple Choice

Which of the following describes a fair distribution of outcomes?

• A)everyone receives the same benefit or incurs the same cost
• B)people who need more get more, and people who can afford more pay more
• C)people who contribute more receive more
• D)All of these may be considered fair distributions of outcomes.

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Definitions:

Nominal GDP

The market value of all final goods and services produced within a country in a specific period, measured in current prices.

Price Level

An index that measures the average of current prices of goods and services in comparison with the prices in a base year.

Money Demand Curve

A graphical representation that shows the relationship between the quantity of money people want to hold and the interest rate.

Interest Rate

The sum, as a percentage of the principal, required by a lender from a borrower for the employment of assets.