In the figure above, 10 percent of income in country A is distributed to the
A) richest 10 percent of the households.
B) poorest 10 percent of the households.
C) richest 30 percent of the households.
D) poorest 30 percent of the households.
D
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What types of goods have downward-sloping Engel curves?
a. Normal goods only. b. Inferior goods only. c. Giffen goods only. d. All types of goods.
The Nash equilibrium for the game is
a. For both stores to advertise b. For megastore to advertise and for superstore not to advertise c. For megastore not to advertise and for superstore to advertise d. For both stores to not advertise
Which of the following is an important side effect of government licensing and other grants of monopoly power?
a. The number of options available to consumers is increased. b. Competition is enhanced. c. Firms will produce more efficiently. d. Rent-seeking is encouraged.
One theory discussed in the textbook is that there is a direct relationship between the opportunity cost of having children and the number of children a woman will have
Indicate whether the statement is true or false