According to the maximin criterion, income should be transferred from the rich to the poor as long as it
a. raises the well-being of the least fortunate.
b. does not alter incentives to work and save.
c. promotes an equal distribution of income.
d. does not lower the welfare of the elderly.
a
Economics
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If good X is an inferior good, a decrease in consumer income, other things being equal, will shift the:
a. demand curve for good X to the right. b. demand curve for good X to the left. c. supply curve for good X to the right. d. supply curve for good X to the left.
Economics
Refer to the given data. This firm's product price is:
A. $2.
B. $3.
C. $4.
D. $16.
Economics