Which of the following is considered a contributive standard for the distribution of income?
A) rewarding workers according to their productivity
B) rewarding workers according to their needs
C) rewarding workers according to the number of their dependents
D) all of the above
Answer: A
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Given the uncertainty about the effects of macro policy, economists generally propose that
A) macro policies should be more active, the lower the level of unemployment or inflation. B) changes in money growth should only be used for fine tuning the economy, not for correcting large imbalances (such as high inflation). C) money growth should be set at zero by constitutional amendment. D) elected officials should have more input in the determination of monetary policy. E) none of the above
Total utility
A) cannot decrease as a person consumes more and more of a good. B) has a constant rate of increase as a person consumes more and more of a good. C) is equal to the sum of the marginal utilities of all units consumed. D) is negative when marginal utility is declining.