The primary problem with the argument that "we agree to be coerced if everyone is coerced" to do an action is _____
a. there is no way to know whether it is true or not
b. it only applies to a limited number of situations
c. it only applies to actions in the public interest
d. there is no way to force everyone else to go along
a
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Aggregate income equals:
a. total profits. b. aggregate output. c. aggregate expenditure. d. b and c. e. all of the above.
Suppose that a price ceiling is imposed because the market equilibrium is perceived to be too high. Which of the following rationing schemes makes no sense?
a. rationing fish to those willing to pay the highest price b. rationing fish by means of a lottery c. rationing fish to the elderly first d. rationing fish on a first-come, first-served basis e. rationing fish according to family size
The productivity slowdown in the U.S. can be explained by geographic limitations and instability in the government
a. True b. False Indicate whether the statement is true or false
Which of the following is not included as "net income" in the U.S. balance of payments?
a. Income paid by a U.S. company to foreign consultants. b. Profits earned by U.S. companies from foreign operations. c. Foreign dividends received by U.S. residents. d. Profits earned by U.S. companies from foreign operations and reinvested abroad. e. All the above are includedas net income in the U.S. balance of payments.