Explain the difference between equality of opportunity and equality of results. Draw an analogy to a football game
What will be an ideal response?
Equality of opportunity means that everyone has the same chance to pursue their own goals, while equality of results aims to give everyone the same outcome. In a football game, equality of opportunity would mean that the rules of the game are mutually agreed upon as fair, while equality of results would mean that the game would have to end tied.
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Because of their effect on interest rates:
a. capital flows weaken monetary policy but strenghen fiscal policy b. capital flows strengthen monetary policy but weaken fiscal policy c. the initial effects of a fiscal expansion on aggregate demand are strengthened d. the initial effects of a monetary contraction are weakened
Under a fixed exchange rate system, if the dollar price of Mexican pesos is above its equilibrium level, the peso is referred to as overvalued and the dollar is necessarily undervalued
Indicate whether the statement is true or false