Many social policies, such as progressive income tax systems, are based on the idea that
a. everyone values money the same
b. politicians are more responsive to the interests of the rich
c. interpersonal comparisons of utility, however difficult, can be made
d. the poor have a lower consumer surplus than the rich
e. everyone has the same utility function
C
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The ratio of the total shift in aggregate demand to the initial shift in aggregate demand is known as the multiplier
Indicate whether the statement is true or false
Trade is often restricted because the
A) gain per producer is larger than the loss per consumer. B) total gain to all producers is larger than the total loss to all consumers. C) gain per producer is less than the loss per consumer. D) total gain to all producers is smaller than the total loss to all consumers. E) gain per consumer is larger than the loss per producer.