There is no trade-off between efficiency and equality
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is NOT directly related to human capital?
A) a summer internship B) an MRI machine C) an understanding of real estate markets D) a college education E) knowledge of computer programing
A . What is the income multiplier? b. How will the income multiplier change if the marginal propensity to save increases? Explain
Which of the following is correct?
a. Efficiency deals with the size of the economic pie, and equality deals with how fairly the pie is sliced. b. Equality can be judged on positive grounds whereas efficiency requires normative judgments. c. Efficiency is more difficult to evaluate than equality. d. Equality and efficiency are both maximized in a society when total surplus is maximized.
For superstar athletes
A) their entire earnings are economic rent. B) part of their earnings are economic rent. C) none of their earnings are economic rent since rent doesn't apply to labor. D) none of their earnings are economic rent since they will do some other work once they are too old to be an athlete.