Which of the three political philosophies discussed in the textbook, if any, think the government should not take from some individuals and give to others to achieve any particular distribution of income?

Which of the following would decrease the price level?

a) an increase in the expected price level. b) an increase in the natural rate of unemployment. c) a decrease in taxes. d) a decrease in the money supply.

A normal good is defined as a good

A) for which demand increases when income increases. B) with a downward sloping demand curve. C) for which demand increases when the number of demanders increases. D) for which demand increases when the price of a substitute rises. E) for which demand increases when the price of a complement falls.