The philosopher John Rawls argued that
a. people would choose income equality if they didn't know beforehand the "agreed upon rules" that determine people's economic position
b. people would choose income inequality to allow the maximum use of their individual talents
c. it would be impossible to determine beforehand how rich and poor people would choose between income equality and income inequality
d. people, uninhibited by social convention, would choose income inequality because they are, by nature, not inclined toward egalitarian values
e. government has a role to ensure income equality to prevent social unrest
A
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According to ________, there is a close connection between unemployment and the growth rate of real GDP
A) Say's Law B) Okun's Law C) Engel's Law D) Ricardo's Law
Which of the following statements is true?
A) There always exists some amount of unemployment in an economy. B) The unemployment in an economy normally increases at times of expansion and decreases at times of contraction. C) In almost every economy, each job opening is instantly filled by a qualified worker. D) The unemployment rate in an economy is constant over the long run.