The ancient Greek philosopher, Plato, concluded that in an ideal society the income of the richest person
a. would be equal to the income of the poorest person.
b. would be no more than four times the income of the poorest person.
c. would be reflective of the effort put forth by that person.
d. would be taxed at a higher rate than the income of the poorest person.
b
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Which of the following statements is CORRECT?
A) When both demand and supply increase, the quantity decreases and the price might rise, fall, or remain the same. B) When both demand and supply increase, the price rises and the quantity might increase, decrease, or remain the same. C) When both demand and supply decrease, the quantity increases and the price might rise, fall, or remain the same. D) When both demand and supply decrease, the quantity decreases and the price might rise, fall, or remain the same.
The fact that the supply curve for a given firm's bond is vertical reflects the fact that
a. at any given point in time there are a fixed number of those bonds in existence. b. firms adjust the number of bonds they issue on a daily basis c. investors do not adjust their portfolios when interest rates change d. government limits the amount of bonds a company can issue