Most Americans agree that
A. a certain amount of income redistribution is called for.
B. absolutely no income redistribution should be carried out.
C. we need completely equal distribution of income.
A. a certain amount of income redistribution is called for.
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Money serves as a standard of deferred payment, which means:
a. it acts as an intermediary between the buyer and the seller. b. it will still hold its value. c. it is the ruler by which other values are measured. d. it must also be acceptable to make purchases today that will be paid in the future.
The legislation that granted unions the legal right to organize workers and bargain collectively with employers was the
a. Norris LaGuardia Act b. Wagner Act c. Taft-Hartley Act d. Landrum-Griffin Act e. Civil Rights Act of 1964
Unregulated markets will tend to
a. rapidly deplete any natural resource. b. naturally conserve any depletable natural resource by pushing up its price every year by a constant dollar amount. c. naturally conserve a depletable resource by pushing up its price at a constant rate every year. d. deplete a resource unless new supplies are found.
The market for diamond rings is closely linked to the market for high-quality diamonds. If a large quantity of high-quality diamonds enters the market, then the
a. supply curve for diamond rings will shift right, which will create a shortage at the current price. Price will increase, which will decrease quantity demanded and increase quantity supplied. The new market equilibrium will be at a higher price and higher quantity. b. supply curve for diamond rings will shift right, which will create a surplus at the current price. Price will decrease, which will increase quantity demanded and decrease quantity supplied. The new market equilibrium will be at a lower price and higher quantity. c. demand curve for diamond rings will shift right, which will create a shortage at the current price. Price will increase, which will decrease quantity demanded and increase quantity supplied. The new market equilibrium will be at a higher price and higher quantity. d. demand curve for diamond rings will shift right, which will create a surplus at the current price. Price will decrease, which will increase quantity demanded and decrease quantity supplied. The new market equilibrium will be at a lower price and higher quantity.