When a society is more equal:
A. the more the economy grows, so the best economy is the most equal.
B. economic growth will provide the most resources for its disadvantaged members.
C. the more everyone gains when the economy improves, but that doesn't mean the most equal society is the best society.
D. economic growth will create imbalance, and the government will need to work to equalize incomes.
Answer: C
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All industrialized countries have become "service economies" in recent decades. Explain the reasons behind this shift
A tax on the buyers of cameras encourages
a. sellers to supply a smaller quantity at every price. b. buyers to demand a smaller quantity at every price. c. sellers to supply a larger quantity at every price. d. Both a) and b) are correct.
Using a graph, explain both the substitution effect and income effect that result from an increase in the price of a normal good.
What will be an ideal response?
Suppose the following situation exists for an economy: Kt+1/N > Kt/N. Given this information, we know that
A) saving per worker equals depreciation per worker in period t. B) saving per worker is less than depreciation per worker in period t. C) saving per worker is greater than depreciation per worker in period t. D) the saving rate fell in period t. E) none of the above