All of the Following Would Be Considered to Be That

question 65

Multiple Choice

All of the following would be considered to be that which individuals are ignorant of under John Rawls' veil of ignorance EXCEPT ________.

• A) nationality
• B) race
• C) special talents
• D) political affiliation
• E) gender

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Definitions:

Price Effect

Describes how changes in prices impact the quantity supplied and demanded in a market.

Downward-Sloping Demand

A market condition reflected in a demand curve where the quantity demanded of a good decreases as the price of that good increases, and vice versa.

Total Surplus

The sum of consumer and producer surplus; a measure of the overall benefit to society from a market transaction.

Perfectly Price-Discriminated

A pricing strategy situation where a seller charges the maximum possible price for each unit consumed that consumers are willing to pay, thereby capturing all potential consumer surplus.