The idea that income redistribution violates the proposition that "one is entitled to the fruits of one's efforts" is a common argument most used
A. in favor of raising the minimum wage.
B. in favor of an equal distribution of income.
C. in favor of income redistribution.
D. against income redistribution.
Answer: D
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Given the information in the figure above, Joe can benefit from trade as far as the price at which he buys Liz's smoothies is
A) below 5 salads per smoothie. B) not higher than 2 salads per smoothie. C) not lower than 2 salads per smoothie. D) not lower than 1 salad per smoothie. E) not higher than 4 salads per smoothie.
A document demonstrating ownership interest in a company is called a
a. contract b. bond c. stock d. lien e. none of these
________ was the main proponent of the view that changes in the money supply can drive business cycles
A) Milton Friedman B) John Maynard Keynes C) Adam Smith D) David Ricardo
Tom is stranded on a deserted island where he can only consume coconuts and crabs. Two of his indifference curves are in the figure above
a) Would Tom prefer his consumption to be at point a or at point b? At point b or at point c? Explain your answers. b) Between points a and b, what is Tom's marginal rate of substitution for a crab?