According to many economists who emphasize the connection between productive contribution and economic reward, income inequality
a. can actually make the poor better off in the long run
b. has nothing to do with property rights
c. promotes efficiency in the use of resources
d. is consistent with long-run economic growth
e. has a negative effect on savings and investment incentives
A
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Under the gold standard, to increase the money supply in the country, the government must
A) increase the value of the country's currency on foreign exchange markets. B) simply print more currency. C) have enough gold to back up the increase in the money supply. D) buy foreign currencies with dollars to increase foreign currency reserves.
Does the money demand curve have a positive slope or a negative slope? Why does it have this slope? Explain why an increase in the variable on the vertical axis of the money demand curve causes either an increase or a decrease in the variable on
the horizontal axis of the money demand curve.
What is the common feature displayed by the following items?
a. eating in a newly opened "fusion" cuisine restaurant b. attending a Red Sox game in Fenway Park c. wearing Lucky Brand designer jeans A) They are all highly inelastic goods. B) The consumption of these goods takes place publicly. C) They tend to be consumed by better educated people. D) The consumption of these goods takes place privately.
By purchasing shares in a mutual fund that holds a portfolio of stocks, a person can
a. benefit from fundamental analysis, since the mutual fund requires its shareholders to perform fundamental analysis on their own. b. benefit from fundamental analysis, since the mutual fund hires one or more individuals to perform fundamental analysis for the fund. c. eliminate market risk. d. reduce the standard deviation of his or her portfolio to zero.