Which of the following is not a source of inequality in incomes?
A. Redistribution of income
B. Differences in intensity of work
C. Differences in ability
D. Risk taking
Answer: A
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To join the EMU, a country should have no more than
A) 1.5 percent inflation rate above the average of the three EU member states with the highest inflation. B) 3 percent inflation rate above the average of the three EU member states with the lowest inflation. C) 4 percent inflation rate above the average of the three EU member states with the lowest inflation. D) 1.5 percent inflation rate above the average of the three EU member states with the lowest inflation. E) 2 percent inflation rate above the average of the three EU member states with the lowest inflation.
Which of the following occurs when a market is in equilibrium?
A) quantity supplied is equal to quantity demanded B) supply is equal to demand. C) the price of the good will tend to rise, all else held constant. D) the price of the good will tend to fall, all else held constant.