The contributive standard of income distribution is met by
A) setting wages according to marginal productivity.
B) having a highly progressive income tax.
C) having the government determine all wages.
D) using local committees to determine the needs of families in the area.
A
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All else held constant, the law of demand suggests that as
A. the price of tablets decreases, the quantity of tablets demanded will decrease. B. income increases, the quantity of tablets demanded will increase. C. the demand for tablets increases, the price of tablets will increase. D. the price of tablets decreases, the quantity of tablets demanded will increase.
All externalities:
A. are harmful to society and create costs external to the decision maker. B. are beneficial to society and create benefits external to the decision maker. C. create either a cost or benefit to a person other than the person who caused it. D. are addressed by the government through taxation.
Provide two specific ways in which reducing inflation might leave "permanent scars" on the economy
What determines the the real interest rate in the long-run classical model?
A. aggregate supply and demand B. money supply and demand C. savings and investment D. inflation