Which of the Ten Principles of Economics do governments run into when they redistribute income to achieve greater equality?
a. Trade can make everyone better off.
b. The cost of something is what you give up to get it.
c. People face trade-offs.
d. Markets are usually a good way to organize economic activity.
c
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The figure above shows the relationship between the time a student spends studying and the student's GPA that semester. The slope of the relationship at point A equals
A) 3. B) 3/20. C) 2/20. D) 1/20. E) 0.
For about the last 45 years, state and local taxes have remained relatively constant as a percentage of GDP
a. True b. False Indicate whether the statement is true or false
The airline industry is an example of an oligopoly.
Answer the following statement true (T) or false (F)
Milton Friedman and Edmund Phelps questioned
A. the stability of the relationship between inflation and unemployment. B. the use of expectations in the Phillips curve. C. the existence of a natural rate of unemployment. D. the existence of a full-employment level of output.