Which of the following is an economic or political question regarding income redistribution?
A. How does a society go about making income distribution more equal?
B. Will redistributing income from the wealthy to the poor destroy incentives?
C. Will there be costs associated with income redistribution policies?
D. All of the above are economic or political questions regarding income redistribution.
Answer: D
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The principal-agent problem arises because of
a. natural selection b. diminishing marginal returns c. hidden actions d. the winner's curse e. hidden characteristics
The aggregate demand curve shows
a. the quantity of goods and services that households, firms, and the government want to buy at each price level. b. the quantity of goods and services that households, firms, and the government want to buy at each interest rate. c. the quantity of goods and services that households (not firms) want to buy at each price level. d. the quantity of goods and services that firms (not households) want to buy at each interest rate. e. none of the above.
Which of the following does NOT affect the long-run aggregate supply curve?
A. technology B. price level C. endowments of resources D. production possibilities curve
Currently in the European Union, resale price maintenance agreements are ________.
A) a hardcore restriction on competition and are judged by the rule of reason approach B) a hardcore restriction on competition and are presumed to be illegal C) illegal per se and are judged by the rule of reason approach. D) legal