« previous next »

Author Question: Refer to the Article Summary. The article discusses income inequality, and for some people this ... (Read 160 times)

tingc95

  • Hero Member
  • *****
  • Posts: 556
on: Jun 29, 2018
Refer to the Article Summary. The article discusses income inequality, and for some people this means a more equitable distribution of income is needed in the economy.
 
  Would an equitable distribution of income necessarily be the most efficient distribution of income?
  A) No, it is impossible to have an economically efficient distribution which is also an equitable distribution.
  B) No, an economically efficient distribution of income would not necessarily be equitable.
  C) Yes, in order for the distribution to be equitable, it must also be efficient.
  D) Yes, equitable and efficient are two different words which have the same definition.

Question 2

Explain the combined effects of these events on U.S. real GDP and the price level, starting from a position of long-run equilibrium.
 
  What will be an ideal response?


Carliemb17

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

The combined effect of an expansion in the world economy, the expectation of higher profits in the future, and an increase in government expenditures increase aggregate demand, which increases real GDP and raises the price level.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th
Aggregates are people who happen to be in the same place at the same time. Aggregates are people who happen to be in the same place at the same time.
Summary of major brain structures. Summary of major brain structures.
Summary of major brain structures. Summary of major brain structures.
Relationship between Income and Happiness in the United States Relationship between Income and Happiness in the United States
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
Video: Stroke volume

For a complete list of videos, visit our video library