26 May Question 1)The productivity standard for the distribution of income can be thought of as A) rewarding people accordin
Question
1)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.
2)One productivity standard for income distribution stated in the text is
A)income distribution should be based on contribution to society’s total output.
B)tax payments are higher for higher income people.
C)poor people pay too much in taxes.
D)the poor should contribute more to society.
3)The contributive standard (merit standard) for distributing income implies that A) income should be distributed equally.
B) income should be distributed according to need.
C) income should be distributed according to the marginal productivity of workers.
D) a transfer should be contributed to an individual above his or her contribution to net output.
4)The contributive standard of income distribution is met by
A)setting wages according to marginal productivity.
B)having a highly progressive income tax.
C)having the government determine all wages.
D)using local committees to determine the needs of families in the area.
5)The egalitarian principle of income refers to A) each person being paid differently.
B) each person receiving the same income. C) each person receiving tax breaks.
D) each person working the same number of hours.
6)”To each exactly the same” refers to
A)the productivity standard.
B)the free market doctrine.
C)the egalitarian principle.
D)the Lorenz curve.
7)A major problem with using the egalitarian principle to distribute income is that A) it would eliminate the incentives that rewards provide in an economic system. B) it is difficult to know when an equal distribution of income has been achieved. C) it would not be fair to the wealthy.
D) there exist no mechanisms to carry out such a scheme.
8)If income were distributed according to the egalitarian principle of “to each exactly the same,” then one problem would be that
A) there would be little or no incentive for individuals to take risky, hazardous, or unpleasant jobs.
B) individuals would have an excess desire to invest in their own human capital. C) too many individuals would want to take risky jobs.
D) productivity levels would probably become too high.
9)The productivity standard says
A)that everyone should have exactly the same income.
B)that the age-earnings cycle should determine income.
C)that people should be compensated on the basis of what they produce.
D)that people should be compensated on the basis of their need.
10) The egalitarian principle refers to:
A)”To each according to her need.”
B)”To each exactly the same.”
C)”To each according to her productivity.”
D)”To each according to his ability.”
11)The merit standard refers to: A) “To each according to her need.” B) “To each exactly the same.”
C) “To each according to her productivity.” D) “To each according to his ability.”
12)The egalitarian principle says
A)that everyone should have exactly the same income.
B)that the age-earnings cycle should determine income.
C)that people should be compensated on the basis of what they produce.
D)that people should be compensated on the basis of their need.
13)The belief that everyone should have exactly the same amount of income is A) merit standard.
B) comparable-worth doctrine. C) egalitarian principle.
D) Lorenz principle.
14)If we were to pay everyone exactly the same income
A)there would be a large amount of economic growth.
B)there would be no incentive to invest in human capital.
C)more people would seek an education.
D)productivity would increase.
15)Which of the following is considered a contributive standard for the distribution of income? A) rewarding workers according to their productivity
B) rewarding workers according to their needs
C) rewarding workers according to the number of their dependents D) all of the above
16)If an employer pays employees according to the volume of business revenue they individually generate, then the employer is applying the
A) productivity standard. B) merit standard.
C) contributive standard. D) all of the above
17)Merit is judged by one’s ability to produce
A)what is considered useful by society.
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