The main duty of the Environmental Protection Agency is to monitor a government-enforced system of property rights
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following groups gain from international trade? i. producers of exported goods ii. domestic consumers of imported goods iii. workers in exporting firms
A) i only B) ii only C) iii only D) i and iii E) i, ii, and iii
The above figure shows the Lorenz curves for four different countries. If country C implemented a policy of redistribution from rich to poor, its Lorenz curve would
A) move toward country B's. B) move toward country D's. C) become positively sloped. D) move above the line of equality.
Milton Friedman argued that as long as
A) the unemployment rate is higher than the inflation rate, the economy is not in long-run equilibrium. B) Real GDP grows, the inflation rate will fall. C) the expected inflation rate is not equal to the actual inflation rate, the economy is not in long-run equilibrium. D) nominal wages rise, so do real wages. E) none of the above
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What will be an ideal response?