How does fairness differ from equality?
People sometimes find equal distribution of income less fair compared to an unequal one. For example, it would seem unfair if some recipients were capable of work but chose not to and received their funds from taxes on the incomes of those who did work.
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If demand for a product is perfectly inelastic, a change in price will not change total revenue
Indicate whether the statement is true or false
When a financial intermediary purchases a nontraded claim of either a business or an individual, its main concern is with
A) interest rate risk. B) credit risk. C) reinvestment rate risk. D) None of the above.
An improvement in technology that increases the marginal product will shift the demand for labor curve to the right
a. True b. False Indicate whether the statement is true or false
Which of the following mechanisms helps output to return to potential after a supply shock?
a. A change in the nominal wage b. Changes in business decision making strategies c. Changes in the capital stock d. The rigidity of the price level e. Changes in inventories