The equality-efficiency trade-off refers to:
A. the conflict between risk averters and risk takers.
B. the willingness of Congress to abandon existing welfare programs in favor of a
comprehensive plan to increase education and training for low-income persons.
C. possible conflicts between the goals of economic efficiency and greater income equality.
D. the difference between the goals of income equality and equality of economic opportunity.
Answer: C
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Which of the following statements would come from someone classified as unemployed?
a. I'm not working because I'm going to Jamaica with my buddy. b. I haven't had a job in a year, and I stopped looking for a job nine months ago. c. I'm a full-time student at the University of Illinois who doesn't have time to work. d. I can't stand my current job as a telemarketer. I used to be a nuclear engineer. e. I'm not working. I had three interviews this week, and I'm trying to find a job.
In the figure, obtaining more books by giving up some DVDs is called a ___________; whereas losing two books in order to gain 1 DVD is referred to as ________ cost.
a. trade-off; a production b. opportunity; trade-off c. budget; a production d. trade-off; an opportunity
Standardization of derivative contracts
A) increases their liquidity. B) is the rule with respect to contracts whose underlying asset is a financial security, but not for contracts whose underlying asset is a commodity. C) is the rule with respect to contracts whose underlying asset is a commodity, but not for contracts whose underlying asset is a financial asset. D) has been proposed many times by financial analysts, but has not yet been carried out by the SEC.
If a monopoly can advertise and as a result the demand curve will become more inelastic, the monopoly
A) should always engage in the advertising. B) should engage in the advertising until the demand curve becomes more elastic. C) will earn higher gross profit if it advertises. D) None of the above.