Question: True or False: 1. It is impossible to prove that a given income distribution is better than another. 2. According to the principle of diminishing
1. It is impossible to prove that a given income distribution is better than another.
2. According to the principle of diminishing marginal utility, increases in income generate greater additional happiness or utility at higher levels of income.
3. Economists assume that interpersonal utility comparisons are not possible.
4. If each person had diminishing marginal utility of income, income redistribution would increase utility in a society.
5. Within a country at a moment in time, happiness is positively correlated with income.
6. If we taxed the rich heavily and gave large subsidies to the poor, our incomes would be more equal but smaller.
7. Large-scale redistribution from high-income people to low-income people would likely result in less overtime being worked in a society.
8. Total equality of family income would result in total equality of individual income.
9. People agree that we should increase the degree of income redistribution in society.
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