Since a trade-off exists between total output and equality of income distribution,
A. greater equality of distribution will generally result in higher levels of output.
B. greater output is generally associated with more equal distribution.
C. policies designed to increase output will only succeed if distribution is more equal.
D. policies intended to expand output must necessarily fail.
E. policies designed to equalize distribution may adversely affect the size of output.
Answer: E
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An indifference curve is a line showing
A. combinations of goods that can be produced if all resources are fully employed. B. all combinations of two commodities that are equally desirable to the consumer. C. all combinations of goods over which the consumer has no choice. D. how decisions are made in a nonmarket economy.
Why are economic growth and saving related?
What will be an ideal response?
A deficit ceiling directly limits
A. The trade deficit. B. Inflation. C. The amount of the national debt. D. The amount by which government spending can exceed government revenue.
If the quantity of labor demanded and the quantity of labor supplied are brought into equilibrium by rising and falling wage rates, there should be no persistent unemployment and the unemployment rate should be zero.
Answer the following statement true (T) or false (F)