The productivity standard for the distribution of income can be thought of as
A) rewarding people according to their ability to produce useful goods.
B) benefiting only the least productive worker.
C) proving that egalitarians are correct.
D) rewarding only the wealthy.
Answer: A
Economics
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For the average total cost curve of a firm with economies of scale, what happens to costs as output increases?
(A) Costs go up. (B) Costs go down. (C) Costs initially go up and then go down. (D) Costs initially go down and then go up.
Economics
Based on our understanding of the model presented in chapter 11, which of the following will cause a permanent increase in growth?
A) an increase in education spending B) an increase in the saving rate C) an increase in capital accumulation D) all of the above E) none of the above
Economics