According to economic historians, streetcars in southern cities in the early 190

Question

According to economic historians, streetcars in southern cities in the early 1900s were racially segregated because the owners of the firms believed that segregation raised the firms' profits.

True

False

Question 44

Compensating differentials are differences in wages related to the characteristics of a job.

True

False

Caroline earns more than John. Under a new tax system, some of the taxes paid by Caroline would go to John. A libertarian would

a. support the system because an extra dollar earned by Caroline would be worth less to her than an extra dollar given to John.

b. oppose the system if it redistributed income in the presence of equal opportunity.

c. oppose the system because an extra dollar earned by Caroline would be worth more to her than an extra dollar given to John.

d. support the system if it maximized the well-being of the poorest member of society.

In general, which of the following would libertarians argue is more important than equal outcomes?

a. equal opportunities

b. equal incomes

c. providing a social safety net

d. offering the opportunity to purchase social insurance

Explanation / Answer

1) True

2) True

3) d. support the system if it maximized the well-being of the poorest member of society.

4) a. equal opportunities

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