A tax that fell very heavily on the rich and the upper middle class might shift the Lorenz curve from
A. J to K.
B. K to L.
C. L to K.
D. I to J.
C. L to K.
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Monopolistic competition means
A) monopolies from several countries compete in the global market. B) a large number of firms producing homogeneous products. C) a large number of firms producing differentiated products. D) few firms producing differentiated products.
Which of the following is least likely to be included in a definition of basic human needs?
a. A minimal level of clothing b. A minimal level of health care c. A minimal level of savings d. A minimal level of shelter e. A minimal level of calorie intake
If mining companies are able to shift some of their production costs onto outside parties, the actual output of mines is likely to fall short of society's ideal
a. True b. False Indicate whether the statement is true or false
?Well-defined and protected _______ rights are important for fostering entrepreneurship. In the absence of? well-defined _______ rights, individuals have less incentive to take? risks, and economic growth rates suffer.
Fill in the blank(s) with the appropriate word(s).