Which of the following programs would be opposed by philosopher John Rawls?
a. a negative income tax
b. the Supplemental Security Income (SSI) program
c. a tax plan creating a perfectly egalitarian income distribution
d. Rawls would oppose all of the programs.
c
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Suppose that a paper producer dumps its waste into a local river. Explain why this situation is inefficient
What will be an ideal response?
The estimated demand for a good is
= 25 - 5P + 0.32M + 12PRwhere Q is the quantity demanded of the good, P is the price of the good, M is income, and PR is the price of related good R. If income decreases by $1,000, all else constant, quantity demanded will ________ by ________ units.
A. decrease; 500 units B. decrease; 1200 units C. increase; 500 units D. decrease; 320 units E. increase; 3.2 units
The reason that diamonds cost more than water is
A. most consumers consume little water. B. diamonds are more beautiful than water. C. the marginal utility of each diamond a consumer purchases is quite high due to the small amount of diamonds that most consumers purchase. D. water is a necessity.
The joining of firms that are producing or selling a similar product is
A. a vertical merger. B. competition by merger. C. a hostile takeover. D. a horizontal merger.