3. (5 pts each) In the table below, consider four societies with four people of differing...

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3. (5 pts each) In the table below, consider four societies with four people of differing incomes: Person Society A Society B Society C Society D Person 1 Person 2 Person 3 Person4 1,002 1,001 2.200 1,000 800 600 2,100 1,100 800 600 2,050 850 650 450 998 a) If you had an equal probability of being one of the persons (ie, 25% chance), which society would you prefer to live in? Why? According to Rawls Maximin principle, which society is worse off? Why? b) c) Suppose the poverty threshold is $1,000 and below, what are the poverty rates in each society?

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Answer 1

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