How can incomes become more unequally distributed within countries and less unequally distributed across countries?
What will be an ideal response?
Income within nations generally has become distributed less equally. However because the average income within the poorest nations has been rising more rapidly than average income within richer nations, the world distribution of income has become more equally distributed.
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Which of the following statements is false?
A) The difference between average total cost and average fixed cost is average variable cost. B) The marginal cost curve intersects the average variable cost curve and the average total cost curve at their minimum points. C) Firms often refer to the process of lowering average fixed cost as "spreading the overhead." D) When marginal cost equals average total cost, average total cost is at its highest value.
Pricing is an aspect of a firm's:
A. conduct. B. environment. C. performance. D. structure.
Compared to perfectly competitive firms, the demand curve for a monopolist will be
A) as elastic. B) more elastic. C) less elastic. D) perfectly elastic.
The following national income data are in billions of dollars
Refer to the above data. Disposable income in this economy is:
A.
$611 billion
B.
$659 billion
C.
$667 billion
D.
$686 billion