The productivity standard for the distribution of income can be thought of as
A) rewarding people according to their ability to produce useful goods.
B) benefiting only the least productive worker.
C) proving that egalitarians are correct.
D) rewarding only the wealthy.
A
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The Fed was founded in 1913 to serve as lender of last resort to bankers during bank runs and panics
Indicate whether the statement is true or false
Suppose you withdraw $1,000 from your savings account and put it in your checking account. Briefly explain how this will affect M1 and M2
What will be an ideal response?
Answer the following statements true (T) or false (F)
1. If the government subsidizes the car makers in the production of cars, then the supply of steel increases. 2. An increase in both supply and demand will lead to an increase in the equilibrium price and an indeterminate change in the equilibrium quantity. 3. A decrease in the price of digital cameras will cause the demand for memory cards to shift to the left. 4. If the demand for electronic readers and tablets increases, then their supply will increase as price rises.
Most economists believe that fiscal policy is:
A. Better than monetary policy for "fine-tuning" the economy B. Better than monetary policy for month-to-month stabilization C. Not as good as monetary policy for month-to-month stabilization D. Not very good at pushing the economy in a particular direction