The concept of government as redistributor is
A. approved by many but questioned by many as well.
B. generally rejected as against “the American way.”
C. largely approved by a vast majority of Americans.
D. unnecessary in the United States because income disparities are small.
E. a conservative idea that many liberals reject.
Answer: A
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The price system works in an economy on a day-to-day basis to match the desires of consumers with the output from producers
Indicate whether the statement is true or false
Demand is elastic when the elasticity is ______.
a. less than 1 b. less than 2 c. greater than 1 d. greater than 2
Define the following terms and explain their importance to the study of macroeconomics: a. money b. M1 c. near money d. bank run
What will be an ideal response?
In the market for euros, an increase in U.S. imports from Europe tends to
A. cause no change in equilibrium price. B. increase equilibrium price. C. decrease equilibrium price. D. increase excess supply.