Which of the following is correct?
A. SMC = PMC - MD
B. MPB = MSB + MEB
C. SMC = PMC + MD
D. MSC = MPB
E. MSB = MSC + MPB
C. SMC = PMC + MD
Economics
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Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the long run would be:
A. P2 and Y2. B. P1 and Y2. C. P4 and Y2. D. P1 and Y1.
Economics
A major problem with using the egalitarian principle to distribute income is that
A) it would eliminate the incentives that rewards provide in an economic system. B) it is difficult to know when an equal distribution of income has been achieved. C) it would not be fair to the wealthy. D) there exist no mechanisms to carry out such a scheme.
Economics