Taxing some citizens to provide welfare grants to other citizens has been called by some "coercive charity." The economist's case for "coercive charity" assumes
A) it is efficient to transfer a dollar from a wealthy person to someone with little income.
B) morality cannot be legislated.
C) people are basically selfish.
D) people who genuinely want the poor to be helped often do not provide any help.
E) redistributing income promotes more rapid economic growth.
D
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As the result of a decrease in capital, the demand for labor would ________, the supply of labor would ________, and the real wage would ________
A) decrease; decrease; decrease B) decrease; remain the same; increase C) decrease; remain the same; decrease D) decrease; increase; remain the same
Banks prefer __________ hold excess reserves because __________
A) not to; excess reserves earn no interest B) not to; banks are not required to hold them C) to; excess reserves earn interest D) to; banks need them to prevent runs
Other things the same, if the price level falls, people
a. increase foreign bond purchases, so the dollar appreciates. b. increase foreign bond purchases, so the dollar depreciates. c. increase domestic bond purchases, so the dollar appreciates. d. increase domestic bond purchases, so the dollar depreciates.
Net wealth is _____
Fill in the blank(s) with the appropriate word(s).