An incentive
A) could be a reward but could not be a penalty.
B) could be a penalty but could not be a reward.
C) could be either a reward or a penalty.
D) is the opposite of a tradeoff.
C
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An increase in government purchases of $200 billion will shift the aggregate demand curve to the right by
A) less than $200 billion. B) more than $200 billion. C) $200 billion. D) None of the above are correct. This policy shifts the long-run aggregate supply curve.
Utilitarianism is
a. a liberal religion that focuses on individual rights. b. a political philosophy that believes the government should choose policies deemed to be just by an impartial observer. c. a political philosophy that believes the government should not redistribute income. d. a political philosophy that believes the government should choose policies to maximize the total utility of society.