Which of the three political philosophies discussed in the textbook, if any, view the total income of society as a shared resource that a social planner can freely redistribute to achieve some social goal?
utilitarianism
liberalism
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If the marginal propensity to consume (MPC) is 0.8, the multiplier will be
A) 1. B) 5. C) 0.8. D) 4.
Which of the following products will be sold by a differentiated oligopoly?
a. Automobiles b. Dairy products c. An ingot of steel d. A barrel of oil
Suppose a firm has an annual budget of $200,000 in wages and salaries, $75,000 in materials, $30,000 in new equipment, $20,000 in rented property, and $35,000 in interest costs on capital. The owner/manager does not choose to pay himself, but he could receive income of $90,000 by working elsewhere. The firm earns revenues of $360,000 per year. What are the annual economic costs for the firm described above?
A. $120,000. B. $450,000. C. $90,000. D. $360,000.
The physical import of DVD players to the United States from Japan best illustrates a:
A. resource flow. B. financial flow. C. trade flow. D. technology flow.