Greater economic efficiency often leads to greater economic inequality
a. True
b. False
Indicate whether the statement is true or false
True
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If by purchasing a little more milk and a little less ice cream you could increase your total utility,
a. the MU of milk must be greater than that of ice cream b. the MU of ice cream must be greater than that of milk c. the MU/P of milk must be greater than that of ice cream d. milk must be cheaper than ice cream e. the MU of milk will increase
Use the following table to answer the question below. Price per UnitQuantity Demanded per YearQuantity Supplied per Year$52,0000101,800300151,600600201,400900251,2001,200301,0001,500There will be a shortage whenever the price is
A. higher than $25. B. equals $25. C. higher than $30. D. lower than $25.
A labor union that consists of workers from a particular industry is a(n)
A) closed shop. B) industrial union. C) union shop. D) bilateral monopoly.
Select the letter of the diagram in Figure 28.1 that best represents the effect of each event on the United States wheat market, ceteris paribus: The dollar increases in value in the foreign exchange markets. (See Figure 29.4.)
A. a. B. b. C. c. D. d.