Any society bound by a contract calling for an income distribution that would ________ the well-being of the worst-off member of society would allow for inequality if that inequality had the effect of ________ the lot of the very poor.
A. minimize; worsening
B. minimize; improving
C. maximize; improving
D. maximize; worsening
Answer: C
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A decrease in demand is represented by:
a. a shift outward of the entire demand curve. b. a shift inward of the entire demand curve. c. a movement along the demand curve in a southeasterly direction. d. a movement along the demand curve in a northwesterly direction.
When a financial asset is first sold, the sale takes place in the ________ market, and subsequent sales take place in the ________ market
A) stock; bond B) primary; secondary C) investment; commercial D) secure; risk
A firm's ________ is measured as a stock while ________ is measured as a flow.
A. investment in new capital; capital B. current labor force; current inventory C. capital; investment in new capital D. planned inventory; current inventory
Situations in which the assumption of efficient, competitive markets fails to hold are called:
A. market failures. B. market interventions. C. inelastic-response markets. D. missing markets.