Which of the following economies performed the worst between 1960 and 2011?

The notion that the demand for inputs depends on the demand for outputs is termed

a. inverse demand. b. derived demand. c. proportional demand. d. complementary demand.

A utilitarian government has to balance the gains from greater income equality against the losses from distorted work incentives. To maximize total utility, therefore, the government

a. would never tax labor income. b. must always achieve a fully egalitarian society. c. enacts policies that only benefit the middle class. d. stops short of a fully egalitarian society.