The distribution of income in a market system is a primary factor that resolves which of the following fundamental economic questions?
A. What will be produced?
B. How will the output to be produced?
C. How will the system accommodate change?
D. Who will get the output?
Answer: D
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In an antitrust lawsuit, which of the following parties is entitled to receive treble damages?
a. The Antitrust Division of the Justice Department b. The Federal Trade Commission c. Private plaintiffs d. State attorney generals e. The Department of Labor
Price ____ occurs when producers charge different customers different prices for the same good or service
a. maximization b. discrimination c. regulation d. management
According to a 2009 article in The Economist, the multiplier effect and crowding-out effect would exactly offset each other when the economy is
a. operating at full capacity. b. in recession. c. experiencing zero inflation. d. experiencing high rates of inflation.
If taxes were a lump-sum amount, then the absolute value of the tax multiplier ________ it would be if taxes depend on income.
A. is equal to what B. is larger than C. is smaller than D. could be either larger than or smaller than