The issue of inequality has become prominent because of
A. an increased sense of justice.
B. a decrease in the strength of capitalism.
C. the widening wage disparity.
D. a consistent fall in incomes.
Answer: C
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Catfish farming is a perfectly competitive industry. Catfish farmers suffered tremendous economic losses in the late 2000s. As a result,
A) some new catfish farmers entered the market. B) some catfish farmers exited the market. C) no catfish farmers entered or exited this market. D) the supply of catfish increased in 2010. E) new demanders entered the market after some firms had exited.
What is the order in which an economy tries to solve the issue of resource allocation?
A. Production planning, distribution, and output selection B. Output selection, production planning, and distribution C. Production planning, output selection, and distribution D. Distribution, production planning, and output selection
If the currency of a country is expected to depreciate in the future, it will cause: a. the demand curve of the currency to shift to the right
b. the demand curve of the currency to shift to the left. c. an upward movement along the demand curve of the currency. d. an upward movement along the supply curve of the currency.
One of the contributing factors to the financial crisis of 2007-2009 was that mortgage lending practices were ____________ strict in the late 1990s and early 2000s, compared to earlier periods such as the 1970s and 1980s, which led to a(n) _______________ in subprime and other nontraditional mortgage loans
A) less; increase B) more; increase C) less; decline D) more; decline