In the two-sector growth models, endogenous growth arises from
A) increased saving.
B) the research sector.
C) increased capital.
D) the manufacturing sector.
B
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Refer to Figure 21.2. If area A = 2,000, area B = 400, and area C = 2,600, what is the Gini coefficient for Ruratania (rounded to two decimal places)?
A) 0.08 B) 0.15 C) 0.48 D) 0.92
A natural monopoly market is characterized diseconomies of scale over the entire range of output.
Answer the following statement true (T) or false (F)
Cost-price pricing typically does not result in profit-maximization. As a result, economists have two views of cost-plus pricing. One of these views is
A) cost-plus pricing is a good way to approximate the profit-maximizing price when marginal revenue or marginal cost is difficult to determine. B) cost-plus pricing is more likely to lead to profit-maximization for monopolistically competitive firms than for oligopoly firms. C) cost-plus pricing is more likely to result in profit-maximization the more elastic the firm's demand curve is. D) cost-plus pricing is more likely to lead to profit-maximization for large firms than for small firms.
The U.S. Bureau of Labor Statistics forecasts that by 2024, total employment in U.S. ________ will decline to 11.4 million
A) manufacturing B) education C) health care fields D) law enforcement