The primary assumption made in ________ justice is that people are risk ________.
A. utilitarian; loving
B. utilitarian; averse
C. Rawlsian; loving
D. Rawlsian; averse
Answer: D
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The demand for a good is elastic if the price elasticity of demand is:
A. equal to one. B. equal to zero. C. less than one. D. greater than one.
Which of the following is true of a production possibilities curve?
What will be an ideal response?
The average income tax rate is:
a. income taxes divided by income. b. income divide by income taxes. c. the change in income taxes when income changes one dollar. d. the change in income when income taxes change one dollar.
For this question, assume that the Phillips curve equation is represented by the following: ?t - ?t-1 = (m + z) - ?ut. Which of the following will cause a reduction in the natural rate of unemployment?
A) an increase in m B) an increase in z C) an increase in ? D) an increase in actual inflation E) an increase in expected inflation