“The most popular justification for the interventionist state is to create or ensure fairness and justice in the distribution of income...Income is not distributed. In a free society, income is earned.”   Which economic perspective does the quotation above best represent?   conservative   positive analysis   radical   liberal   libertarian   Question 2   _____ is an assumption used in economics in which other relevant factors or variables are held constant.   Ceteris paribus   Scarcity rule   Montani semper liberi   Variable costs   Marginal revenue maximization

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question

“The most popular justification for the interventionist state is to create or ensure fairness and justice in the distribution of income...Income is not distributed. In a free society, income is earned.”

 

Which economic perspective does the quotation above best represent?

 

conservative

 

positive analysis

 

radical

 

liberal

 

libertarian

 

Question 2

 

_____ is an assumption used in economics in which other relevant factors or variables are held constant.

 

Ceteris paribus

 

Scarcity rule

 

Montani semper liberi

 

Variable costs

 

Marginal revenue maximization

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Political philosophy
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education