Economists Use the Word Equality to Describe a Situation in Which

question 43

Multiple Choice

Economists use the word equality to describe a situation in which

• A)each member of society has the same income.
• B)each member of society has access to abundant quantities of goods and services,regardless of his or her income.
• C)society is getting the maximum benefits from its scarce resources.
• D)society's resources are used efficiently.

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Definitions:

Creditors

Individuals or institutions that lend money or extend credit to others, expecting repayment in the future with possible interest.

Money Market Instruments

Short-term debt securities issued by financial institutions, companies, and governments.

Securities

Financial instruments that represent an ownership position in a publicly-traded corporation (stock), a creditor relationship with a governmental body or a corporation (bond), or rights to ownership as represented by an option.

Shareholder

An individual or institution that owns one or more shares of stock in a public or private corporation, giving them a right to a portion of the company's profits and assets.