Economists believe income inequality results from all the following except
a. government taxes and transfer payments
b. labor market discrimination
c. unequal distribution of talents in the population
d. unequal access to education
e. unequal distribution of lifetime accumulated assets
A
Economics
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Producing a differentiated product occurs in which of the following industries?
A) oligopoly, monopolistic competition, and perfect competition B) monopolistic competition and oligopoly C) monopolistic competition only D) oligopoly only
Economics
The Arrow impossibility theorem suggests
A) democracies are doomed to fail in the long-run. B) dictatorships are impossible in the long-run. C) there is no universally applicable decision rule in a majority-rule democracy. D) there is no way to make democracy better than a dictatorship.
Economics