Poverty and inequality in the U.S. are well below the OECD average
a. True
b. False
Indicate whether the statement is true or false
False
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According to traditional Keynesians, when the central bank increases the money supply during a recession
A) people will spend all of the money on goods and services. B) people will borrow more from banks. C) people will keep most of it in their bank accounts. D) people will refuse to use the money.
Antitrust laws in the United States
A) are an attempt to foster competition. B) are not necessary in the twenty-first century. C) have not been used in the past twenty-five years. D) are the same as the laws in the European Union.
Public choice theory suggests politicians will be most likely to favor redistribution of income from
a. the rich to the poor. b. unorganized taxpayers to well-organized interest groups. c. middle-income taxpayers to both the rich and the poor. d. well-organized businesses and labor groups to consumers.
Assume that your roommate is very messy. Suppose she gets a $25 benefit from being messy but imposes a $50 cost on you. The Coase theorem would suggest that an efficient solution would be for you to
a. pay your roommate at least $25 but no more than $50 to clean up after herself. b. pay your roommate at least $51 to clean up after herself. c. charge your roommate at least $25 to have you clean up after her. d. charge your roommate at least $50 but no more than $100 to keep you from complaining about the mess.