The Rawlsian view of equity would lead to:
A) equal allocations of goods across all persons.
B) maximizing the utility of the least-well-off person.
C) maximizing the total utility of all society members.
D) none of the above
B
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Tom & Jerry are running Hanna Barbera's lemonade stand as two profit centers. Tom makes the lemonade while Jerry sells it. Jerry argues that Tom is transferring the lemonade to him priced too high, which forces him to charge the customers a high price, losing sales. Does the decision maker have the information to make a good decision?
a. Yes b. No c. Uncertain d. None of the above
Consider the production possibilities frontier displayed in the figure shown. If this society chooses to produce 200 bushels of apples it can produce no more than:
A. 20 watermelons.
B. 15 watermelons.
C. 10 watermelons.
D. 5 watermelons.
The demand curve for a monopolistic competitor has a negative slope
a. True b. False Indicate whether the statement is true or false
Which statement is true?
A. The Federal Open Market Committee has very little power. B. The Federal Reserve rarely raises or lowers the discount rate. C. Our money supply grows at a rate of between three and four percent a year. D. The Federal Reserve rarely changes the reserve requirements.