Outcomes are fair according to the
A) rules view if private property rights are established and trade is voluntary.
B) results view if private property rights are established and trade is voluntary.
C) rules view if there is not too much inequality.
D) results view if there is not a big tradeoff.
E) results view if there is equality of opportunity.
A
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If real GDP is greater than planned aggregate spending:
A. real GDP will fall. B. unplanned inventory investment is negative. C. real GDP will rise. D. the economy is in equilibrium.
If the prices of the goods and services contained in the CPI market basket increase from the base period to the next year, we know that
A) the market basket used by the BLS must be changed next year to reflect consumers' new expenditures. B) the next year's CPI will be below 100. C) the next year's CPI will be above 100. D) the inflation rate is falling. E) the cost of the CPI market basket at next year's prices is lower than the cost of the CPI market basket at base period prices.