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lyudmila [28]
3 years ago
6

Which of the following is correct?

Business
1 answer:
babymother [125]3 years ago
3 0

Answer: (A)

Efficiency deals with the size of the economic pie, and equality deals with how fairly the pie is sliced.

Explanation:

According to Gregory Mankiw, resources are scarce and therefore every society must use its scarce resources to derive as much benefits as it can. It is this derived benefits he calls the "economic pie"

The more efficient a society is, the more the benefits (or the larger the economic pie) it can derive from its resources.

According to Mankiw, equality means fairness in distributing the benefits (or slicing the pie) among the people in that society.

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Answer:

separate-but-equal doctrine

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The Fourteenth Amendment guaranteed equal protection for everybody, in this case it guarantees equal service.

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Answer:

no, since other things are not held constant, including her income

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The law of demand states that price has an inverse relationship with quantity demanded of a good. As price increases the demand reduces, and as price decreases quantity demanded increases.

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All factors do not remain constant.

Hilary's behaviour can be explained by the concept income effect. Where an increase in income leads to the consumer buying more of expensive goods than cheaper ones.

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Suppose that you lend $1,000 to a friend and he or she pays you back one year later. What is the opportunity cost of lending the
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Answer:

The nominal interest rate that would have been earned on the money

Explanation:

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A) ​continue it.

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