Intelligent policymaking requires making trade offs, which means
A) accepting unethical but unavoidable compromises.
B) giving up what is less valuable for what is more valuable.
C) putting one's own interests ahead of the interests of others.
D) sacrificing some people's welfare to other people's welfare.
E) violating someone's rights.
B
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According to the U.S. Supreme Court's 1920 ruling on U.S. Steel,
a. all monopolies are illegal b. all oligopolies violate the Sherman Antitrust Act c. large firms cannot be found to be in violation of the Sherman Antitrust Act d. "mere size is no offense" e. possession of market power is sufficient for a firm to be found in violation of the Sherman Antitrust Act
The second step of the four step process is to
a. identify the new equilibrium and then compare the original equilibrium price and quantity to the new equilibrium price and quantity. b. decide whether the economic change being analyzed affects demand or supply. c. draw a demand and supply model before the economic change took place. d. decide whether the effect on demand or supply causes the curve to shift to the right or to the left, and sketch the new demand or supply curve on the diagram.
What is the balance of trade is sometimes called?
a. balance of payments b. balance of exchange c. balance of financial capital d. balance of goods and services
The share of college degrees earned by women was ____ in 2013 compared to ____ in 1961
a. 50 percent; 50 percent b. 47 percent; 30 percent c. 57 percent; 39 percent d. 51 percent; 48 percent