If society were to maximize the utility of its worst-off member, the final allocation would most likely be
A) relatively egalitarian.
B) on the contract curve.
C) Pareto-efficient.
D) one in which one person gets everything.
A
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The Federal Open Market Committee has responsibility for
A) advising the Treasury Department on monetary policy. B) printing money. C) issuing orders to buy or sell government securities for the Fed. D) appointing members to the Board of Governors of the Federal Reserve system.
Which of the following expenditures associated with the production of a new high-performance SUV will be directly included in GDP?
A) the sale of bonds to finance the construction of the assembly plant B) the purchase of used welding robots to assemble to vehicles C) the purchase of new tires to be installed on the new vehicles D) the purchase of new machine tools to manufacture the engines