From 1935 to 1950, inequality of money income was ______.
a. holding steady
b. rising
c. dropping
d. worse than today
c. dropping
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Define a Pareto efficient outcome. Does it ensure equity? Explain with an example
What will be an ideal response?
Use the figure below, which shows a linear demand curve and the associated total revenue curve, to answer the question.
The price for which 100 units can be sold is $________.
A. 15 B. 25 C. 45 D. 10 E. 50
Suppose a concert by Rihanna and a basketball game played by the Houston Rockets are substitutes, then which of the following is TRUE?
A. If the price of a ticket to a Rockets game decreases, then the demand for Rihanna tickets will fall. B. The price of a ticket to a Rockets game will always equal the price of a ticket to a Rihanna concert. C. If the price of a ticket to a Rockets game increases, then the demand for Rihanna tickets will remain unchanged. D. If the price of a ticket to a Rockets game increases, then the demand for Rihanna tickets will fall.
A budget surplus would be associated with GDP level:
Refer to the graph above.
A. H
B. J
C. K
D. L