Compared to the distribution of money income, the distribution of income that takes into consideration the effects of taxes and in-kind benefits
a. is less even
b. is the same
c. is more even
d. is fairer
e. is less fair
C
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A) Given the information above, if full employment GDP were 2,000, would there be an inflationary gap or a recessionary gap? B) What two fiscal policy measures would you recommend to remove the gap?
Opportunity cost
A) can only be measured as a paid cost. B) is always the value of the next best forgone opportunity. C) does not exist since there are no receipts. D) is always the lowest valued alternative.
Refer to the above graph of the representative firm in monopolistic competition. The intersection of marginal cost and average total cost is represented by point:
A. a. B. b. C. c. D. d.
When the price of gasoline increases significantly, the delivery companies like UPS, FedEx, and the USPS all find:
A. Their TVC curves shifting up B. Their TFC curves shifting up C. Themselves moving up along their TC curves D. Themselves moving up along their TVC curves