A laissez faire policy is one in which
a. the government plays a major role in guiding economic activity
b. the government prefers to control taxes rather than spending
c. the government leaves things alone
d. individuals rely on the government for guidance but not for active intervention in the economy
e. businesses rely on the government for guidance but not for active intervention in the economy
C
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If a nation's Lorenz curve lies on the 45 degree line of income equality, then
A) more of the nation's income is received by the lowest 20 percent of families than by the highest 20 percent. B) income is unequally distributed. C) more of the nation's income is received by the highest 20 percent of families than by the lowest percent. D) the income received by each 20 percent of families is 20 percent of the total income.
One reason many people make their own Hollandaise sauce rather than buy it is that
a. they can maintain control over the quality during production b. the total cost of ingredients is the same as the price of store-bought sauce c. firms do not make high-quality Hollandaise sauce d. people place a high value on their time e. firms do not produce goods that can be made at home