In a society, if negotiation among parties leads to a politically unsatisfactory distribution of income:
a. the legislature can enact laws to redistribute this income.
b. the society can on its own reallocate resources to bring about a politically satisfactory outcome.
c. the parties will renegotiate until they reach a politically satisfactory outcome.
d. the parties will refuse to carry out future transactions.
A
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"The national debt is too large. The government must stop spending so much money." This statement is
a. a normative statement. b. a positive statement. c. a testable hypothesis. d. both b and c.
In order to minimize deadweight loss generated by taxation, a tax should be placed on goods that are:
A. price elastic. B. price inelastic. C. expensive. D. popular.
Gross domestic product for 2000 tries to measure the market value of all final goods and services produced in 2000 . But not everything produced in the economy gets onto the market
Indicate whether the statement is true or false
Monetary & Fiscal policy
What will be an ideal response?