The "Equality of Opportunity" Idea of Fairness Claims

question 192

Multiple Choice

The "equality of opportunity" idea of fairness claims

• A) a society should make the poorest as well off as possible.
• B) the results and the rules should both be fair.
• C) it's not fair if the rules aren't fair.
• D) private property can be transferred under government order.
• E) only a first-come, first-served system of allocating resources is fair.

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Definitions:

Option

A financial contract granting the buyer the right, but not the obligation, to buy or sell an asset at a set price within a specific time.

Asian Options

A type of option where the payoff depends on the average price of the underlying asset over a certain period of time rather than at maturity.

American Options

Options that can be exercised at any time before expiration, as opposed to European options which can only be exercised on the expiration date.

European Options

Financial derivatives that give the holder the right to buy or sell an underlying asset at a specified price, but only on the option's expiration date.