In the debate between equity and efficiency, _____ tend to favor efficiency, while _____ tend to favor equity
a. Keynesians; classicals
b. monetarists; supply-siders
c. supply-siders; Keynesians
d. classicals; supply-siders.
C
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The rule that states that the marginal revenue product equal to price does not hold when there are more than two inputs
a. True b. False Indicate whether the statement is true or false
In a competitive labor market, if the supply of labor increases, wages will:
A. decrease. B. increase. C. remain the same. D. drop to zero.
Money payments made by governments to individuals for which no services or goods are concurrently rendered are known as
A) transfer payments. B) government-sponsored payments. C) government-inhibited payments. D) black market payments.
Your income will increase if the Federal Reserve buys a Treasury bill from you and pays you with a check from the Fed
Indicate whether the statement is true or false