According to A.P. Lerner, splitting income equally among individuals was most appropriate for maximizing combined satisfaction
Indicate whether the statement is true or false
T
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The Golden Rule of capital accumulation maximizes the steady-state level of
A) output per worker. B) capital per worker. C) consumption per worker. D) investment per worker.
Which of the following is not a reason for the establishment of intergovernmental transfer programs?
a. Higher level governments want to encourage lower governments to undertake certain programs. b. Taxes are harder to avoid at higher levels of government. c. To provide for national defense resources utilized at the local level. d. Equalization of resources between richer and poorer localities
Private solutions may not be possible due to the costs of negotiating and enforcing these solutions. Such costs are called
a. transaction costs. b. corrective costs. c. input costs. d. private costs.
A run on a bank occurs when many depositors withdraw cash from their accounts all at once.
Answer the following statement true (T) or false (F)