Cyrus McCormick and Eli Whitney were important in the technology of
A. steel.
B. automobiles.
C. agriculture.
D. oil.
C. agriculture.
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Philosopher John Rawls's theory of justice presents an argument in favor of income equality that relies on the
a. belief that, objectively, people would rather trade the uncertainties of fortune for the certainty of moderate income b. belief that human beings are perfectible, and it is the unequal distribution of property that creates unequal distribution of incomes c. argument that in a world of identical individuals, equality of incomes achieves the greatest welfare number of people d. argument that income equality breeds the most efficient use of economy's resources e. idea that private property originates from theft
The Surgeon General announces that eating chocolate increases tooth decay. As a result, the equilibrium price of chocolate
a. increases, and producer surplus increases. b. increases, and producer surplus decreases. c. decreases, and producer surplus increases. d. decreases, and producer surplus decreases.
Explain the principal–agent problem for representative democracy
Please provide the best answer for the statement.
Goods and services bought domestically but produced in other countries are referred to as
A) exports. B) imports. C) transfer payments. D) foreign consumption.