An increase in the public debt and its subsequent repayment will tend to:
A. Mildly reduce the income inequality in the U.S.
B. Mildly increase the income inequality in the U.S.
C. Have no impact on the income distribution in the U.S.
D. Make the income distribution more equitable in the U.S.
B. Mildly increase the income inequality in the U.S.
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Even ideal cartels tend to be unstable because
a. firms typically prefer competition to collusion as competition, because it leads to more profits. b. collusion leads to lowest possible overall profits in the industry. c. oligopolistic managers are extremely risk loving. d. firms can benefit by secretly selling more than they promised the other firms e. all of the above
Consensus research concludes that medical technology is responsible for much of the increase in medical care spending over the past several decades.This probably means
a. That better availability means wider use. b. That poorer availability means less use and poorer health outcomes. c. That medical care is increasingly expensive d. All of the above are correct.
The substitution effect of a decrease in the price of an inferior good encourages the consumer to purchase more of the good while the income effect encourages the consumer to purchase less of it
a. True b. False
Which of the following is not correct?
a. Indifference curves are downward sloping. b. Indifference curves that are closer to the origin are preferred to indifference curves that are further from the origin. c. Indifference curves are bowed in toward the origin. d. Indifference curves do not cross.