ECON 205 UofA Final (All 3 midterms) Questions and Answers 2023
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Creative destruction is related to .. - -Economic activity when the new industries displace the old ones -Examples of the creative destruction process are? - -Innovation in the Transportation and C... ommunication industries -According to Alm & Cox, Society cannot reap the benefits of creative destruction unless? - -We are willing to accept that some may be worse off as a result -Creative Destruction benefits are related to ? - -Increased Productivity -Economic Egalitarianism suggests that everyone should have? - -Same amounts of income and wealth -Instead of a doctrine of egalitarianism, Frankfurt advances a doctrine of? - -Sufficiency -According to Frankfurt, it is possible to compare each individual's utility for money? - -False -According to Nozick, equality of opportunity is problematic because? - -Involves a conflict of rights between individuals [Show More]
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