A modified version of utilitarianism proposed by John Rawls states that
A) the distribution of the economic pie is fair if the rules are fair.
B) the distribution of the economic pie is fair if it achieves the greatest happiness for the greatest number of people.
C) the fair distribution of the economic pie is the one that makes the poorest person as well off as possible.
D) goods may be transferred from one person to another only by voluntary exchange.
C
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A decline in demand in a competitive industry will result in
a. a decrease in equilibrium price b. a decline in the number of firms in the industry c. economic losses for some firms in the industry d. a decline in the equilibrium quantity e. all of the above
Government regulations that set an environmental goal and dictate how the goal will be achieved are called:
a. effluent-offset regulations. b. incentive-based regulations. c. Coasian regulations. d. command-and-control-regulations.