Which of the following is true?
a. The size of the economic pie to be divided among a country's residents is fixed.
b. Government tax and transfer programs have exerted a strong equalizing impact on the distribution of income in the United States.
c. The method of allocating income is relevant to the issue of fairness as well as the pattern of income distribution.
d. The optimal distribution of income can be determined by objective economic criteria.
C
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The increase in the average unemployment rate in the 1970s was the result of
A) higher real wage rates. B) an increase in the birth rate in the early 1970s. C) repeated increases in the minimum wage. D) an increase in the birth rate in the late 1940s and early 1950s. E) the reduction of overly generous unemployment benefits in the 1970s.
________ occurs when a firm cuts prices below production costs in a deliberate attempt to drive competitors out of business
A) Deliberate dumping B) Ravaging dumping C) Voracious dumping D) Predatory dumping