According to work by Amartya Sen, the best way from a society's point of view to deal with inalienable rights is to:
A. sell them when the marginal benefit exceeds the marginal cost.
B. tax their sale to raise revenue since demand for them is inelastic.
C. disallow any markets for their exchange.
D. purchase them when the marginal benefit exceeds the marginal cost.
Answer: C
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Efficiency wages are:
A. above-market wages that bring forth so much added work effort that per-unit production costs are lower than at market wages. B. wage payments necessary to compensate workers for unpleasant or risky work conditions. C. usually less than market wages. D. relevant to macroeconomics because they explain rightward shifts in aggregate demand.
The U.S. economy in the 1990s benefited from an aggregate supply curve shifting outward.
Answer the following statement true (T) or false (F)