Q: The benefits of income inequality are a) always greater than
The benefits of income inequality are a) always greater than the costs. b) always less than the costs. c) associated with rewarding hard work and work that society values. d) associated with the...
See AnswerQ: Under many economic models of terrorism, the terrorist is assumed to
Under many economic models of terrorism, the terrorist is assumed to act a) without regard for incentives, costs, or benefits. b) in a predictable way, since they maximize costs subject to minimizin...
See AnswerQ: Social discord resulting from income inequality can be lessened if there is
Social discord resulting from income inequality can be lessened if there is (are) a) high levels of intergenerational income mobility. b) high levels of income mobility of individuals. c) belief th...
See AnswerQ: Scarcity implies that the allocation scheme chosen by society can a
Scarcity implies that the allocation scheme chosen by society can a) not make more of any one good. b) always make more of any good. c) typically make more of a good but at the expense of making less...
See AnswerQ: A production possibilities frontier is a simple model of a)
A production possibilities frontier is a simple model of a) scarcity and allocation. b) prices and output. c) production and costs. d) inputs and outputs.
See AnswerQ: An industry in which there are many competitors with specific marketing niches
An industry in which there are many competitors with specific marketing niches is likely to be characterized by a) monopoly. b) oligopoly. c) monopolistic competition. d) perfect competition.
See AnswerQ: When evaluating a business decision, an economist will often resort to
When evaluating a business decision, an economist will often resort to the use of present value because a) the profits may not be large enough to warrant the time and attention of the investor. b) t...
See AnswerQ: The notion that the United States is the “land of opportunity
The notion that the United States is the “land of opportunity” where who your parents are and how much they earn is unrelated to your income is (relative to other industrial powers) a) clearly shown...
See AnswerQ: Any event that creates a “crisis in confidence” is likely
Any event that creates a “crisis in confidence” is likely to lead to a) higher aggregate prices. b) higher aggregate output. c) lower aggregate prices. d) inflation.
See AnswerQ: The existence of the federal income tax and the welfare system serve
The existence of the federal income tax and the welfare system serve as the primary elements of a) discretionary fiscal policy. b) nondiscretionary fiscal policy. c) monetary policy. d) exchange r...
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