Politicians and citizens may often choose policies that reduce economic efficiency because they are perceived as "fairer."
a. True
b. False
Indicate whether the statement is true or false
True
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For a monopoly to successfully price discriminate, its customers must:
a. feel that the product is a necessity. b. have identical demands. c. be unable to resell the product. d. actively engage in arbitrage.
Self-interest could never include benevolence
a. True b. False Indicate whether the statement is true or false
"The dramatic reduction of the money supply during the 1930s was responsible for the Great Depression. The macroeconomy is intrinsically stable if left alone by the prying hand of government. The Federal Reserve Board, instead of tightening money during booms and loosening money during recessions (policies that are ineffective due to time lags), should simply increase the supply of money at a
steady rate of 3 to 5 percent per year.". This statement reflects which school of thought? a. The traditional Keynesians b. The monetarists c. The traditional classicals d. The new Keynesians e. The new classicals
A savings account is an example of consumer income
a. True b. False Indicate whether the statement is true or false