The maximin criterion for government policies is associated with
a. the school of thought called utilitarianism.
b. the school of thought called liberalism.
c. the school of thought called libertarianism.
d. the school of thought called stoicism.
b
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Which of the following industries is most likely to represent the monopolistic competition market structure?
A) automobiles B) tobacco products C) restaurants D) farm equipment
"A perfect competitor should maximize total revenues." Do you agree or disagree? Explain
What will be an ideal response?
During recessions, taxes tend to
a. rise and thereby increase aggregate demand. b. rise and thereby decrease aggregate demand. c. fall and thereby increase aggregate demand. d. fall and thereby decrease aggregate demand.
Governments can play a role in supporting the production of new ideas by:
A. protecting intellectual property. B. enforcing antimonopoly laws. C. directing the immediate exchange of all scientific ideas. D. taxing industries that become too competitive.