Using income tax revenue to fund the welfare system illustrates the conflict between efficiency and equality
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Suppose the Fed conducts an open market purchase of bonds. This monetary policy action will tend to cause
A) the price of bonds to increase, and the interest rate to increase. B) the price of bonds to increase, and the interest rate to decrease. C) the price of bonds to decrease, and the interest rate to increase. D) the price of bonds to decrease, and the interest rate to decrease.
Whenever MC of the last unit produced of a good is greater than its MU, society can benefit from decreasing the output of that good.
Answer the following statement true (T) or false (F)
The fear of unwanted price wars may explain why many firms are reluctant to:
A. reduce wages when a decline in aggregate demand occurs. B. reduce prices when a decline in aggregate demand occurs. C. expand production capacity when an increase in aggregate demand occurs. D. provide wage increases when labor productivity rises.
Refer to the information provided in Figure 6.1 below to answer the question(s) that follow.
Figure 6.1Refer to Figure 6.1. The slope of budget constraint AC is
A. -5.0. B. -2.0. C. -0.5. D. indeterminate from this information because prices are not given.