What are the arguments in favor of the redistribution of income?
What will be an ideal response?
A country as wealthy as the United States should be able to ensure that its citizens have all necessities. Some people are born with less ability to produce than others. Some are victims of bad luck. Transfer programs do not significantly alter the incentives to many of those who receive them. Many are unable to work with or without the transfer programs.
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According to your textbook,
A) millions of people know how to make pencils, but only a few know how to use them. B) millions of people know how to make pencils, but nobody knows how to use them. C) no single person anywhere in the world knows how to make a pencil. D) no single person anywhere in the world knows how to use a pencil. E) none of the above.
When a monopolist maximizes its profit by selling a positive amount:
A. its marginal revenue must equal its marginal cost at that quantity. B. its marginal revenue must exceed its marginal cost at that quantity. C. its marginal revenue must be less than its marginal cost at that quantity. D. its marginal revenue must be equal to zero.
This table shows individual demand schedules for a market.
According to the table shown, at a price of $1.00, how much of the good will be demanded by Betty?
A. 16
B. 11
C. 46
D. 30
As savings grow in an economy, economic growth rises
a. True b. False Indicate whether the statement is true or false