The Notion of Utilitarian Justice Is That

question 71

Multiple Choice

The notion of utilitarian justice is that

• A) through income redistribution, the rich sacrifice a little and the poor gain a lot.
• B) any change that makes some people better off without making anyone worse off should be undertaken.
• C) income should be distributed so that the well-being of the worse-off member of society should be maximized.
• D) income should be distributed according to an individual's needs.

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Definitions:

Agency

In economics and finance, refers to a relationship where one party, the agent, makes decisions or performs a service on behalf of another, the principal.

Cyclical Unemployment

Unemployment directly related to cycles of economic upturn and downturn.

Structural Unemployment

A form of unemployment caused by a mismatch between the jobs available and the skill levels of the unemployed, often due to technological changes or shifts in the economy.

Frictional Unemployment

Short-term unemployment occurring when individuals are between jobs or are seeking their first jobs.