Refer to the above figure. Where are the poorest households represented on the graph?
A) The poorest households are to the left along the horizontal axis.
B) The poorest households are to the right along the horizontal axis.
C) The poorest households are all along the horizontal axis.
D) The poorest households are concentrated in the middle.
A
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Which of the following normative criteria rejects a policy whenever there exists an alternative policy that could unanimously defeat it?
a. Majority rule. b. The efficiency criterion. c. The Pareto criterion. d. The potential Pareto criterion.
When BMW, an German company, purchases a welding machine that was made in Toronto, the purchase is
A) a German export and a Canadian import. B) a German import and a Canadian export. C) both a German and a Canadian import. D) neither an export nor an import for either country.
Inflation
A. has no impact on taxing strategies. B. can be temporarily offset with tax cuts. C. only became a tax problem in the late 1990s. D. generally affects state governments most severely.
Suppose Niampora, an island country, is the largest exporter of cotton in its region. A recent flood affected a large part of the country. Which of the following will be an impact of the flood on the supply curve of cotton?
a. The supply curve of cotton will shift rightward. b. The supply curve of cotton will shift leftward. c. The supply curve of cotton will become steeper. d. The supply curve of cotton will become flatter.