There is no trade-off between efficiency and equality.
Answer the following statement true (T) or false (F)
False
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National income minus personal taxes net of transfer payments equals disposable income
a. True b. False Indicate whether the statement is true or false
Calculating expected value involves:
A. predicting the most likely outcome and assuming that that event will occur. B. assuming the worst outcome will occur and evaluating the financial implication of that outcome. C. estimating how likely different outcomes are, and estimating the financial implications of each outcome. D. None of these statements is true.
Positive externalities arise when
A. a profitable firm is regulated. B. tax rates are reduced. C. an unprofitable firm is shut down. D. production of a good generates benefits that spill over to third parties.
The high correlation between rapid growth in exports and rapid economic growth observed in several East Asia countries in recent decades
A) proves that export promoting trade policy leads to relatively rapid economic growth. B) proves that a free-trade orientation of trade policy results in rapid economic growth. C) proves that exports help growth, whereas imports impede growth. D) proves that trade policy is the most important policy area for promotion of economic development. E) does not prove that trade liberalization always leads to rapid economic growth.