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on a production-possiblilities curve, underemployment is represented by a point above and to the right of the curve. True or False?
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- Please tell the criticisms of the MARXIAN THEORY OF THE ECONOMICDEVELOPMENTProponents of socialism contend that it willa. prevent workers from exerting significant control over social policy.b. lead to increased profits for owners.c. allow workers to exert significant control over work organizations.d. result in very inactive governments.Why are the poorest members of society the greatest beneficiaries in the Difference principle of John Rawls?
- Does a “rational” individual always reduce labour supply in response to a proportionalincome tax? Why or why not? Use the labour-leisure model to illustrate your response.Discuss how the wage-schooling locus is determined in the labor market, and why it is upward sloping and concave.Which of the following models, if any, rests on the assumption of competitive factor markets? Gravity model Ricardian model Heckscher-Ohlin model
- The theory of distributive justice that I found most convincing was the process of Utilitarianism. While I do agree partially with the Libertarian theory in regard to the sense of personal choice and freedom, I find the outcome of Utilitarianism to be most feasible. The feeling of collective social involvement, and working towards a distributive process with an outcome of happiness can help gauge overall community satisfaction. Regarding economic distribution, Utilitarianism has deemed the increase of worker participation to assist collective agreement of distribution. "...many utilitarians would favorably view increased worker participation in industrial life and more equal distribution of income." (W.H. Shaw, 2017, p.91) I highly agree with this form of economic distribution. I feel as if Utilitarianism provides a structure for increased worker production that can positively influence society as a whole, while simultaneously improving the economy. Personally, I desire a structure…That theories are related to poverty or how the rise in food prices affect the vulnerable population?Would reducing inequality have any benefits for society in general? Specifically, would reducing inequality benefit middle class and upper class households? If so, how? Do you think it likely that attempts to reduce income inequality would reduce people's incentives to work? Why or why not? please put the resources