When economic analysis takes place within the context of maximizing a social welfare function, the conclusion always is _____
a. that income should be completely redistributed
b. that income should not be redistributed at all
c. that some level of redistribution is optimal
d. that income redistribution has no relations to maximizing social welfare
c
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Which of the following was the reserve currency under the gold exchange standard?
a. U.S. dollar b. Euro c. Great Britain pound d. Australian dollar e. Deutsche mark
All of the following are true regarding the current status of labor unions EXCEPT
A) organized labor's heyday occurred from the 1940s through the 1970s. B) part of the explanation for the decline in union membership has to do with the shift away from manufacturing. C) the deregulation of certain industries has also contributed to a decline in unionism. D) recent labor laws have diminished worker's rights.