"To each according to what he or she produces" describes the ________ theory of income determination
A) productivity
B) egalitarian
C) equity
D) needs
Answer: A
You might also like to view...
The measurement of GDP handles underground production by
A) including the amount produced in this sector of the economy in exactly the same way that all other production is included. B) omitting it because underground production is unreported to the government by the people involved. C) adding it at fixed prices that change only infrequently. D) adding an estimate of it because it is difficult to precisely measure underground production. E) omitting it because, being illegal, it has no effect on the nation's total production.
The game in Scenario 13.14
A) is Stackelberg if both players move at the same time; Cournot if one player moves first. B) is Cournot if both players move at the same time; Stackelberg if one player moves first. C) Stackelberg no matter what the timing of moves. D) Cournot no matter what the timing of moves. E) is neither Stackelberg nor Cournot.
One potential problem with using fiscal policy to close recessionary output gaps is that:
A. sustained government deficits can be harmful to long-run economic growth. B. it may be offset by automatic stabilizers. C. reductions in interest rates can reduce savings and, therefore, investment. D. decreased government spending can cause inflationary pressure to build.
Increasing production because of expectations that the economy will do well in the future is known as ______ investment.
a. expected b. planned c. unexpected d. unplanned