What is one definition of equity?
a) equality
b) efficiency
c) fairness
d) similarity
Answer: c) fairness
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Like other major government programs, an individual knows his contributions to Social Security from the information on his W-2 form
a. True b. False
Someone who has the desire to work but has no exceptional abilities and has not acquired the skills necessary for a well-paying job is likely to escape poverty completely
a. True b. False Indicate whether the statement is true or false
Refer to the above figure. Which one of the following statements is TRUE with regard to the economy depicted in the graph?
A. The total amount of resources it takes to produce 20 bales of wool and 500 loaves of bread is more than the amount of resources needed to produce 50 bales of wool and 250 loaves of bread. B. The total amount of resources it takes to produce 20 bales of wool and 500 loaves of bread is the same as the amount of resources needed to produce 50 bales of wool and 250 loaves of bread. C. Point C cannot be produced. D. The best production point is 500 loaves of bread and 50 bales of wool.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,
A. initially increases, then decreases. B. increases. C. remains constant. D. decreases.