“Fair” outcomes and “efficient” outcomes are always identical.
Answer the following statement true (T) or false (F)
False
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The above table shows Homer's utility from boxes of doughnuts. The marginal utility that Homer receives from the third box of doughnuts is equal to
A) 75. B) 25. C) 20. D) 3.
Economies cannot function without money
Indicate whether the statement is true or false
The first U.S. census was taken in:
a. 1790 when George Washington was president b. 1850 when Millard Fillmore was president c. 1890 when Benjamin Harrison was president d. 1934 when F.D. Roosevelt was president
People combining the effects of past policy changes on important economic variables with their own judgment about the future effects of current and future policy changes is consistent with
A) frictional unemployment. B) the rational expectations hypothesis. C) active policy making. D) passive policy making.