John Rawls, Who Developed the Way of Thinking Called Liberalism

question 112

True/False

John Rawls, who developed the way of thinking called liberalism, argued that government policies should be aimed at maximizing the sum of utility of everyone in society.

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Definitions:

Fiscal Year

A fiscal year is a one-year period that companies and governments use for financial reporting and budgeting, which doesn't necessarily align with the calendar year.

Automatic Stabilizers

Economic policies and programs that automatically adjust to counteract economic fluctuations without the need for explicit government action.

Recessionary Pressures

Economic factors or conditions indicating an impending or current period of economic downturn.

Recessions

Intervals of brief economic downturn during which there is a reduction in trade and industry activity, most often marked by a decline in GDP over two successive quarters.