The Contributive Standard (Merit Standard) for Distributing Income Implies That

question 7

Multiple Choice

The contributive standard (merit standard) for distributing income implies that

• A) income should be distributed equally.
• B) income should be distributed according to need.
• C) income should be distributed according to the marginal productivity of workers.
• D) a transfer should be contributed to an individual above his or her contribution to net output.

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Definitions:

Mirror Image Rule

A principle in contract law stating that an offer must be accepted exactly without modifications; any changes negate the original offer and create a counteroffer.

Modified

Changed or altered from its original form or condition.

Without Reserve

In an auction context, it refers to the selling of items without any minimum bid requirement, allowing the sale to the highest bidder regardless of the bid amount.

Auctioneer

A person authorized to conduct auctions, responsible for accepting bids and declaring goods sold.