Many people believe that the incentive arguments for redistribution are irrelevant, and that the wealthy simply have a __________.
a. lot more money than they can ever use
b. moral obligation to provide for the less fortunate
c. birth right that made them wealthy through no efforts of their own
b. moral obligation to provide for the less fortunate
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Everything else remaining unchanged, a sudden increase in the price of oil is likely to cause a(n):
A) downward movement along the demand curve for labor. B) leftward shift in the demand curve for labor. C) upward movement along the demand curve for labor. D) rightward shift in the demand curve for labor
In the neoclassical growth model, convergence is conditional upon two countries having
a. the same savings rates. b. the same depreciation rates. c. the same technology growth rates. d. the same population growth rates. e. all of the above.
If the government imposes a price ceiling, then:
a. producers must charge the ceiling price. b. the price offered by producers must be at or above the ceiling price. c. the price offered by producers must be at or below the ceiling price. d. producers would be inclined to increase the quantity supplied. e. the market supply curve will shift to the right.
Which of the following activities, if any, represents an external benefit? a. The benefit to a consumer from consuming a Caesar salad
b. The damage to a person's health from secondhand smoke. c. The reduction in tourist revenues at a beach resort caused by an oil spill. d. None of the above