A case for income equality includes all the following except
a. maximum economic growth
b. randomness of personal misfortune
c. unequal ownership of property
d. accepting Rawls's theory of justice
e. maximization of society's utility
A
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A quota
A) makes domestic producers worse off. B) makes domestic consumers worse off. C) makes both domestic producers and consumers better off. D) makes everyone worse off.
A key difference between a Walrasian market and most auction markets is that in most auction markets
A) transactions occur continuously. B) bid prices exceed offer prices. C) only dealers have complete information. D) offer prices exceed bid prices.
If foreign interest rates rise
A) the demand for domestic currency rises, causing it to appreciate. B) the demand for domestic currency falls, causing it to depreciate. C) the demand for domestic currency rises, causing it to depreciate. D) the demand for domestic currency falls, causing it to appreciate.
Answer the following statements true (T) or false (F)
1) Productivity growth was greater between 1973 and 1995 than between 1995 and 2012. 2) The economy of 1995-2012 was characterized by greater productivity growth and greater economic growth than in the immediately preceding two decades. 3) Because of the recent rise in the average rate of productivity growth, the business cycle is dead. 4) Critics of economic growth say studies show that people are not interested in achieving higher standards of living.