The Belief That Everyone Should Have Exactly the Same Amount

question 126

Multiple Choice

The belief that everyone should have exactly the same amount of income is

• A) merit standard.
• B) comparable-worth doctrine.
• C) egalitarian principle.
• D) Lorenz principle.

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Definitions:

Optimal Level

Optimal Level refers to the most efficient, beneficial, or profitable position or state for a particular process, activity, or economic outcome.

Public Good

A good that is non-excludable and non-rivalrous, meaning it is accessible to all and one individual's use does not diminish its availability to others.

Preferences

Individual choices or prioritizations that indicate the degree of personal satisfaction or value someone derives from various options.

Free-Rider Problem

A situation in which individuals consume a resource or service without contributing to its cost, commonly occurring in the provision of public goods.