Which of the following REDUCES equality of income or wealth relative to the market distribution?
A) government payments to the poor
B) a regressive income tax
C) high taxes on bequests
D) non-assortative mating
B
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Price controls may be thought of as
A) a restraint on the rationing function of prices. B) useful tools that promote production. C) necessary in market economies. D) the freeing-up of free market forces.
Variability in exchange rates of currencies used in international trade
A. causes a complete breakdown of trade. B. renders the theory of gains from trade null in practice. C. brings with it a host of complications in trade policy. D. has no impact on trade.
In an attempt to reduce poaching of elephant ivory tusks, officials in Kenya burned illegally gathered ivory. Using your understanding of shifts in supply and demand, will this turn out to be a helpful or hurtful move on the Kenyan government's part?
What ultimately determines what is produced under the concept of consumer sovereignty?
a. owners of capital b. government planning officials c. people who buy products d. people who make products