Suppose society consists of four individuals: Andy, Bill, Carl, and David. Andy has $20,000 of income, Bill has $40,000 of income, Carl has $60,000 of income, and David has $80,000 of income. A utilitarian would argue that
a. taking $1 from Bill and giving it to Carl would increase society's total utility.
b. taking $1 from Carl and giving it to Andy would increase society's total utility.
c. taking $1 from Carl and giving it to David would increase society's total utility.
d. taking $1 from Bill and giving it to David would increase society's total utility.
b
Economics
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If the firm in Figure 17-4 above maintains its set price of P0, rather than dropping price to P1, the loss of consumer surplus due to this decision is
A) J + K. B) K - G. C) G + H. D) H + K.
Economics
In recent years, people have benefited from greater amounts of leisure time. This trend:
A. has caused GDP to rise. B. has caused GDP to fall. C. made GDP fluctuate randomly. D. is not accounted for in GDP.
Economics