You and your sister are splitting a pizza. You cut it in half and your sister selects her half first. Thus, you cut it into two equally sized pieces. This is an example of
A. utilitarian justice.
B. communism.
C. Rawlsian justice.
D. a public good.
Answer: C
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Many economists and policymakers have raised concerns about crowd funding due to the existence of:
A) information costs facing small investors B) information costs facing business start ups C) transaction costs facing business start ups D) increased competition for banks in funding business start ups
Managers need all of the following information to determine if the firm should make or buy an input except which one?
A) the salvage rate of the equipment to make the input B) the quantity of the input the firm needs each year C) the firm's discount rate D) the present value of the firm's current profit
The rational expectations hypothesis suggests that if wages and prices are flexible,
A) unanticipated monetary policy actions can shift the long-run aggregate supply curve but cannot shift the aggregate demand curve. B) anticipated monetary policy actions can affect nominal variables, but not real variables. C) unanticipated monetary policy actions can affect real variables, but not nominal variables. D) growth in the money supply can alter real variables only if the growth is anticipated.
If there are steady decreases in aggregate supply, the economy will experience
A) a slow decrease in price levels. B) demand-side inflation. C) an expansionary gap. D) supply-side inflation.