Utilitarianism argues that
A) Only equality brings efficiency.
B) There is a tradeoff between equality and efficiency.
C) The result is fair if the rules are fair.
D) The competitive market is fair.
A
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A decrease in AS will trigger less inflation under which of the following conditions?
A. AD is relatively steep. B. AD is relatively flat. C. AS is relatively steep. D. AS is relatively flat.
Suppose the economy is initially operating at point A in the above figure. Which of the following statements is TRUE?
A. An unexpected reduction in aggregate demand will cause the economy to move from point A to point C in the short run. B. An unexpected reduction in aggregate demand will cause the economy to move from point A to point B in the long run. C. An unexpected reduction in aggregate demand will cause the economy to move from point A to point B in the short run. D. none of these
During the 1960s, many Keynesian economists felt that by studying the Phillips curve
A. policy makers could eliminate even frictional unemployment in the economy. B. policy makers could fine-tune the economy by selecting policies that would produce the exact mix of unemployment and inflation that suited current government objectives. C. policy makers could dispense with the Federal Reserve's open-market operations. D. the President and Congress did not need to attempt to balance the budget.
Which law serves as the basis for most equal employment opportunity laws?
A) Title IX of the Education Amendments of 1972 B) Title VII of the 1964 Civil Rights Act C) Federal Affirmative Action Act D) Title IV of the Higher Education Act