Which political philosophy focuses on the process of determining the distribution of income rather than on the outcome?
a. utilitarianism
b. liberalism
c. libertarianism
d. welfarism
c
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The figure above shows Clara's demand for CDs. If the price for a CD is $15, then Clara
A) receives no consumer surplus on the 6th CD she buys. B) receives a total of $10 of consumer surplus. C) will buy no CDs. D) receives a total of $40 of consumer surplus.
The laissez-faire system relies on the price mechanism to allocate resources.
Answer the following statement true (T) or false (F)
_____ is the only type of firm where it is possible for a person to hold all of the information that matters for all types of decisions
a. Corporation b. A firm where decision-making is centralized c. Sole proprietorship d. A firm where there is separation of ownership and management
The unemployment rate is
What will be an ideal response?