It has been found that
A. less-developed countries have more equality of income distribution.
B. more-developed countries have more equality of income distribution.
C. only prior communist countries have more equality of income distribution.
D. income distribution cannot be measured among countries with different political and economic systems.
Answer: B
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Large economies, such as the U.S. economy, should ________ adopt a flexible exchange rate, because giving up the power to stabilize the domestic economy via monetary policy ________.
A. almost never; is of little consequence B. nearly always; is of little consequence C. nearly always; comes with a high cost D. almost never; comes with a high cost
What do we need to assume about firms in the sticky price model?
A) They accommodate any demand at the given price. B) They hire until the real wage equals the average labor productivity. C) They maximize only current profits. D) They adapt the price to current conditions.
A single-period duopoly firm can choose output level A or B. The firm decides it will produce level A regardless of what the other firm produces. This decision may occur because
A) producing the output level A is a dominant strategy. B) this firm has simply decided to always produce at level A. C) Both A and B are possible. D) None of the above.
These are the shares of the seven firms in Macland’s sweater industry. Sally’s Sweaters: 36%, Jack’s Sweaters: 24%, Mira’s Sweaters: 2%, Nils’ Sweaters: 8%, Hans’ Sweaters: 3%, Pedro’s Sweaters: 7%, Jules’ Sweaters 20%. What is the HH index?
a. 88 b. 7,744 c. 2,398 d. 10,000