A valid argument against redistributing income to achieve complete equality is that:
a. income equality would destroy the social cohesiveness that exists among different income groupings
b. this would eliminate the monetary incentives to work and produce.
c. the cost of obtaining the equality would be so deflationary as to promote economic instability.
d. income equality would imply class segregation based on factors such as sex or race, since income would be constant.
b
Economics
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Refer to Figure 4-11. What is the value of consumer surplus after the imposition of the price floor?
A) $1,500 B) $2,700 C) 4,500 D) $5,700
Economics
Johnny has worked as a CPA for five years and wants to open his own public accounting practice. The cost of his college degree in accounting represents
A) the opportunity cost of this endeavor. B) a sunk cost. C) an expense. D) a variable cost.
Economics