The total amount of income in a society is independent of how income is distributed.
Answer the following statement true (T) or false (F)
False
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History tells us that "fine tuning" of the tax code is likely to be in the public interest
a. True b. False
When a monopolist engages in perfect price discrimination,
A) the marginal revenue curve lies below the demand curve. B) the demand curve and the marginal revenue curve are identical. C) marginal cost becomes zero. D) the marginal revenue curve becomes horizontal.
Suppose that installing an overhead pedestrian walkway would cost a college town $150,000 . The walkway is expected to reduce the risk of fatality by 3 percent, and the cost of a human life is estimated at $10 million. The town should
a. install the walkway because the estimated benefit is twice the cost. b. install the walkway because the estimated benefit equals the cost. c. not install the walkway, since the cost is twice the estimated benefit. d. install the walkway, since the cost of even a single life is too great not to take action.
A reason why the quantity theory of money is problematic is that:
A. money supply increases generally affect only goods prices. B. real output rises during expansions and falls during contractions. C. the Fed generally runs expansionary monetary policy. D. the velocity of money has fluctuated over time.