John Rawls's views on income distribution and fairness can best be described by the statement:
A. The lesser individuals' duty should be to work for the well-being of the brightest individuals.
B. A high level of income inequality is necessary to sustain the arts, beauty, education, and civilization.
C. Property rights should be equally distributed, and the market should determine the distribution of income.
D. Society's goal should be to maximize the welfare of the least well-off, but some inequality is necessary to meet this goal.
Answer: D
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Referring to Figure 19.2, the effect of a decrease in U.S. prices is represented by a movement from point
A) a to d. B) d to a. C) b to c. D) a to b.
Which of the following statements about the International Monetary Fund (IMF) is TRUE?
A) The IMF was created to finance long-term economic development projects in poor countries. B) The IMF was created to reduce tariff barriers between nations. C) The IMF functions as a central bank that conducts monetary policy for the world economy. D) The IMF obtains funds from quota subscriptions charged to member countries.
The continuation of federal agricultural subsidy programs is based on a desire not to undermine the stability of the farm economy
Indicate whether the statement is true or false
The term ceteris paribus means that
a. all important variables in the real world are considered b. all factors that influence the event are changing at the same time c. everything else is being held constant d. everything, except one influence, is changing e. the consumer is king