The U.S. distribution of income was more unequal in 1990 and 1980 than in 1970.
Answer the following statement true (T) or false (F)
True
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The fundamental force that drives trade between nations is
A) the government. B) NAFTA. C) absolute advantage. D) comparative advantage. E) legal treaties.
Suppose the market supply curve is p = 5Q. At a price of 10, producer surplus equals
A) 50. B) 25. C) 12.50. D) 10.
When monetary and fiscal policymakers expand aggregate demand, which of the following costs is incurred in the short run?
a. Short-run aggregate supply decreases. b. The natural rate of unemployment increases. c. The price level increases more rapidly. d. The money supply increases less rapidly.
If the first copy cost of a music video is $223,000 and the marginal cost is $0, how much is the average total cost if the firm produces 1 million copies?
A. 22.3 cents B. 0.223 cents C. 1,223,000 D. 223,000,000,000