When the government redistributes income from the wealthy to the poor,
a. efficiency is improved, but equality is not.
b. equality is improved, but efficiency is not.
c. both efficiency and equality are improved.
d. neither efficiency nor equality are improved.
b
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Loans are examples of a bank's
A) balance sheet. B) assets. C) liabilities. D) net worth.
Complete Milton Friedman's famous statement, "Inflation is always and everywhere a ________ phenomenon."
A) recessionary B) discretionary C) repressionary D) monetary
The LM curve represents combinations of income and the interest rate at which
A) money demand equals money supply when the money supply is fixed. B) money supply equals money demand when the money demand is fixed. C) money demand equals money supply when the money supply can vary. D) money supply equals money demand when both the money supply and money demand can vary.
Refer to the above figure. Moving from point A to point B indicates
A) an increase in supply. B) an increase in quantity supplied. C) a decrease in supply. D) a decrease in quantity supplied.