The idea that a dollar in the hand of a rich person is worth ________ a dollar in the hand of a poor person is a consequence of utilitarian justice.
A. more than
B. the same as
C. nothing compared to
D. less than
Answer: D
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The completion of a degree or course of study is a good labor market signal
A) only if what is learned in that educational process relates directly to the job the individual is being considered for. B) only if there is a positive correlation between academic success and wage income. C) primarily because individuals develop good habits in college that serve them well in other areas later on. D) because all individuals have the opportunity (in the United States) to pursue higher education. E) because people who possess the traits that make them more productive in the workplace have an easier time completing an education than those who don't.
Since the mid-1980s, if the Fed wanted to shift to a more expansionary monetary policy, it would
a. expand the reserves available to the banking system, which would drive down short-term interest rates. b. reduce the reserves available to the banking system, which would drive down short-term interest rates. c. expand the reserves available to the banking system, which would drive up short-term interest rates. d. reduce the reserves available to the banking system, which would drive up short-term interest rates.
Which of the following is not correct?
a. Gross domestic product is both total income in an economy and total expenditures on the economy's output of goods and services. b. In a closed economy net exports are zero. c. National saving is the sum of private saving and public saving. d. Purchases of capital goods are excluded from GDP.
If at a given real interest rate desired national saving is $60 billion, domestic investment is $30 billion, and net capital outflow is $20 billion, then at that real interest rate in the loanable funds market there is a
a. surplus. The real interest rate will rise. b. surplus. The real interest rate will fall. c. shortage. The real interest rate will rise. d. shortage. The real interest rate will fall.