Outcomes are fair according to the
A) rules view if private property rights are established and trade is voluntary.
B) results view if private property rights are established and trade is voluntary.
C) rules view if there is not too much inequality.
D) results view if there is not a big tradeoff.
E) results view if there is equality of opportunity.
A
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During the Revolutionary War, the Pennsylvania legislature attempted to aid the Continental Army by setting wage floors for soldiers in the army.
Answer the following statement true (T) or false (F)
When there is a positive cross-price elasticity of demand between two goods,
a. they are independent goods b. they are complementary goods c. they are substitute goods d. they are normal goods e. the income elasticity of demand is positive
Taxes on capital gains and interest decline as inflation rates increase.
Answer the following statement true (T) or false (F)
The supply curve for a monopoly is:
A. The portion of the marginal cost curve that lies above the average variable cost curve B. The portion of the marginal cost curve that lies above the average total cost curve C. The portion of the marginal cost curve that lies above the average fixed cost curve D. Not clearly defined