Compared to wages of professional athletes, the prices of automobiles in the United States have
A. fallen.
B. risen.
C. stayed the same.
D. risen at the same rate as the CPI.
Answer: A
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After 1929 in the United States, as measured by the Lorenz curve, income inequality:
a. increased sharply. b. remain unchanged. c. declined. d. increased.
If your bank receives a checkable deposit of $20,000 . and the banking system makes loans totaling $180,000 . the maximum possible, then the required reserve ratio must be:
a. 0.10. b. 0.20. c. 0.25. d. 0.40. e. 0.50.
Economists who argue that advertising enhances market efficiency suggest that celebrity advertising signals inferior product quality
a. True b. False Indicate whether the statement is true or false
Market power is defined as:
(a) The ability of a perfectly competitive firm to charge any price it wants. (b) The strength of the equilibrium in the market. (c) The ability of a seller to affect the market price of a good or service. (d) All of the above.