Libertarians believe that
a. it is more important to evaluate the process by which economic outcomes are produced than the outcomes themselves.
b. government should attempt to redistribute income from the rich to the poor when the gap between rich and poor is more than 20%.
c. equality of income is more important than equality of opportunity.
d. it is more important to evaluate economic outcomes first and then the process that produced them.
a
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The purpose of commodity buffer stocks is
(a) to moderate price fluctuations. (b) to raise commodity prices. (c) to encourage commodity substitution. (d) to guarantee national security.
The price controls on consumer goods during World War II led to
a. permanent surpluses. b. stable long-term prices. c. a burst of inflation when they were ended. d. increased production of consumer goods to satisfy demand.