The argument most often used against redistribution is that a society as wealthy as the United States should not have a legal obligation to provide all its members with the basic necessities of life.
Answer the following statement true (T) or false (F)
False
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Fill in the blank. A(n) ________ market requires perfect and complete information among all participants
A) monopolized B) oligopolized C) perfectly competitive D) effective
Suppose that the Fed announces a low-money-growth policy to control inflation and workers sign low-wage contracts as a result. If instead, the Fed had implemented a high-money-growth policy, which of the following would not occur?
a. The unemployment rate would increase. b. The Fed's stated policy would be time inconsistent. c. The unemployment rate would be less than the natural rate. d. The Fed would not achieve credibility through its actions. e. The rate of inflation would be higher than expected.
The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
A decrease in the price level will
A) shift the aggregate demand curve to the left. B) shift the aggregate demand curve to the right. C) move the economy up along a stationary aggregate demand curve. D) move the economy down along a stationary aggregate demand curve.