Inequality within countries has been __________, and inequality between countries has been _________ in recent decades.
A. increasing; decreasing
B. increasing; increasing
C. decreasing; increasing
D. decreasing; decreasing
A. increasing; decreasing
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Refer to Figure 17-3. In Panel A, at high wages (segment iii)
A) the price of leisure is rising relative to the price of labor. B) laborers work more as wages increase. C) the price of leisure is falling relative to the price of labor. D) labor suppliers take more leisure as wages increase.
Senator Blacklung represents a state that grows a significant amount of tobacco. Not only do many of his constituents work for businesses in this industry, but the tobacco firms also make generous contributions to his reelection campaign. According to public choice theory, which of the following bills would Senator Blacklung be most likely to support?
a. a bill proposing an increase in the tax on cigarettes to fund urban renewal programs across the nation b. a bill that would provide substantial subsidies for tobacco growers c. a bill proposing increased funding for a national antismoking awareness campaign financed by an increase in the tax on cigarettes d. a bill that would prohibit senators from accepting campaign contributions from firms who are involved in the production or sale of tobacco products
In an imaginary economy, consumers buy only sandwiches and magazines. The fixed basket consists of 20 sandwiches and 30 magazines. In 2006, a sandwich cost $4 and a magazine cost $2 . In 2007, a sandwich cost $5 . The base year is 2006 . If the inflation rate in 2007 was 16 percent, then how much did a magazine cost in 2007?
a. $1.87 b. $2.08 c. $2.32 d. $3.00
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point A to Point B is
A. -2/3. B. -1.5. C. -3. D. -30.