Determining the most socially desirable level of income equality or inequality
a. is done through markets, rather than by the government
b. is done directly by firms
c. involves normative economics
d. involves evaluation of public goods
e. involves evaluation of all externalities, both positive and negative
C
Economics
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Which of the following financial institutions reported the largest bankruptcy in U.S. history in September 2008?
a. Morgan Stanley b. Goldman Sachs c. Lehman Brothers d. JP Morgan Chase e. Barclays Capital
Economics
Briefly and concisely define the following terms and explain their relevance to the study of economics
a. industrial and craft unions b. closed shop c. union shop d. bilateral monopoly e. collective-bargaining agreement
Economics