A likely effect of government policies that redistribute income and wealth from the wealthy to the poor is that those policies
a. enhance equality.
b. enhance efficiency.
c. increase the reward for working hard.
d. All of the above are correct.
a
You might also like to view...
Suppose that there are only two countries in the world, Heartland and Soulland. The two countries produce only two goods, corn and drill presses. At its current level of production, Heartland must give up production of 1/4 drill press to produce an additional 100 bushels of corn. Soulland must give up 1 drill press to produce an additional 100 bushels of corn. No trade now occurs between the two economies, and both economies are operating on their respective production possibilities frontiers. 89. (Exhibit: Heartland and Soulland) The country with a comparative advantage in the production of corn is:
A) Heartland. B) Soulland. C) neither; they both use the same technology. D) neither; they both use the same amount of resources.
When quantity demanded responds strongly to changes in price, demand is said to be
a. fluid. b. elastic. c. dynamic. d. highly variable.