Which of the following is often used by economists to assess income distribution?
a. Affordability Index
b. Quintiles
c. Consumer Price Index
d. Quartiles
b. Quintiles
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Natural monopolies are the natural result of:
A. geographical happenstance. B. government regulations intended to encourage competition. C. competition in markets where economies of scale exist over the relevant range of output. D. fierce competition from firms in a market.
The poverty rate _______ between 1993 and 2000 and _____ between 2001 and 2004.
A. fell; fell B. rose; rose C. fell; rose D. rose; fell
If on Tuesday the perceived price of studying for an exam is $4 per hour but on Saturday the perceived price of studying for an exam is $10, the law of demand predicts
A) more studying on Saturday and less on Tuesday. B) more studying on Tuesday and less on Saturday. C) the same amount of studying on Tuesday and Saturday. D) no studying on Tuesday or Saturday.
The agency responsible for investigating instances of fraudulent or misleading advertising is the:
A. Federal Trade Commission B. Interstate Commerce Commission C. Federal Communications Commission D. Uniform Business Practices Commission