The principle that states that we should strive to achieve the greatest happiness for the greatest number is called
A) the big tradeoff.
B) the symmetry principle.
C) utilitarianism.
D) efficiency.
C
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When a government defaults on its obligations, the event is called a
A) sovereign default. B) magisterial default. C) private default. D) sudden stop default. E) national default.
Laissez-faire is a policy that espouses central planning.
Answer the following statement true (T) or false (F)
The statutory incidence of a tax ______________ the economic incidence of the tax.
A. determines B. often can predict C. is the same as D. has no effect on
Assets that a company might not be able to convert to cash quickly but that still have significant value (e.g., factory building, real estate, machinery) are known as
a. liquid assets b. hard assets c. corporate assets d. marketable securities e. none of these