Which of the following statements about markets is correct?I.A market helps resources move to their highest-valued uses by means of prices changes.II.A market represents the exchanges of both buyers and sellers.
A. I only
B. II only
C. Both I and II
D. Neither I nor II
Answer: C
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Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
The goal of health insurance is to
a. redistribute income from the sick to the healthy. b. spread risk over a large group of people. c. equally distribute the probability of loss over a large number of people. d. collect sufficient premiums to cover all possible losses. e. equalize the availability of medical care across population groups.
Ralph Nader's book Unsafe at Any Speed caused Congress to require
a. safety glass in all new cars. b. seat belts in all new cars. c. air bags in all new cars. d. stricter drunk driving laws in all states.
What are the reasons for unequal distribution of income? List at least six reasons.
What will be an ideal response?