Which of the following types of countries has experienced increasing inequality in recent decades?
A. Poor countries
B. Rich countries
C. Countries with low economic growth
D. All of these have experienced increasing inequality.
D. All of these have experienced increasing inequality.
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When Ferrari sells stock to the public in its IPO, it will do so through the New York Stock Exchange. This is an example of Ferrari raising funds through
A) a financial market. B) reinvesting retained earnings. C) dividend reinvestment. D) a financial intermediary.
The current account balance of the United States began to deteriorate in
A) the late 1960s. B) the early 1970s. C) the early 1980s. D) the late 1980s. E) the early 1990s.
Comparing a tariff levied on an import where the home firm is a monopoly to a situation where the home firms are competitive, we find:
a. the exact same result—both firms charge world price + tariff and both firms produce Q where MC = MR = world price + tariff. b. that the monopoly firm will be able to charge a higher price and limit its quantity. c. that the competitive firm will not be able to survive the impact of the tariff. d. that quantity is not the issue; the monopoly firm will pay its workers less and earn higher profits.
Refer to the labor market diagram where D is the labor demand curve, S is the labor supply curve, and MRC is the marginal resource (labor) cost curve. If this were a purely competitive labor market, the equilibrium wage rate and level of employment would be:
A. $5 and 3 respectively.
B. $6 and 4 respectively.
C. $7 and 5 respectively.
D. $8 and 3 respectively.