February 20, 2017

Homework Help: Economics

Posted by Sarah on Thursday, March 1, 2007 at 7:20pm.

6. The chapter uses the analogy of a "leaky bucket" to explain one constraint on the redistribution of income.
a. What elements of the U.S. system for redistributing income create the leaks in the bucket? Be specific.
b. Do you think that Republicans or Democrats generally believe that the bucket used for redistributing income is leakier? How does that belief affect their views about the amount of income redistribution that the government should undertake?

7. Suppose there are two possible income distributions in a society of ten people. In the first distribution, nine people have incomes of $30,000 and one person has an income of $10,000. In the second distribution, all ten people have incomes of $25,000.
a. If the society had the first income distribution, what would be the utilitarian argument for redistributing income?
b. Which income distribution would Rawls consider more equitable? Explain.
c. Which income distribution would Nozick consider more equitable? Explain.

Take a shot. What do you think?

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