John Rawls, who developed the way of thinking called liberalism, argued that government policies should be aimed at maximizing the sum of utility of everyone in society
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose that Venezuela experiences significant capital outflows after a recent election. If the nation had fixed exchange rates, what effect would these flows have had on Venezuela's overall balance and value of the Bolivar (the Venezuelan currency)?
a. Overall balance would rise and value of the Bolivar would fall. b. Overall balance would not change and value of the Bolivar would fall. c. Overall balance would fall and value of the Bolivar would not change. d. Overall balance would fall and value of the Bolivar would fall. e. Overall balance would fall and value of the Bolivar would rise.
If the government uses a head tax to finance a public good, then the:
A. proportion of income paid in taxes increases as income rises. B. proportion of income paid in taxes declines as income rises. C. proportion of income paid in taxes is constant. D. dollar amount paid by each taxpayer declines as income rises.
Which of the following statements would be true of an economy that can be characterized as being to the left of the IS curve?
A) There is an excess demand for commodities at the existing interest rate. B) There will be a tendency for the level of output to decrease. C) There is an excess supply of commodities at the existing interest rate. D) There will be a tendency for interest rates to fall.
When the Treasury borrows from the non-bank public and makes an expenditure of an equal amount, the money supply
A) rises by a multiple of the expenditure. B) rises by an amount equal to the expenditure. C) rises by an amount less than the expenditure. D) is unaffected.