From 1989 to 2013, the share of wealth for the top 3% of wealth holders in the United States
A. remained roughly the same.
B. increased by almost 10 percentage points.
C. increased by more than 45 percentage points.
D. decreased by about 8 percentage points.
Answer: B
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Excess supply in an unregulated market will cause the price of a product to fall
Indicate whether the statement is true or false
The average total cost curves for plants A, B, C and D are shown in the above figure. Which plant is best to use to produce 20 units per day?
A) plant A B) plant B C) plant C D) plant D
Which of the following offers the most likely explanation of why average total cost is falling in a cereal factory?
a. Production bottlenecks and equipment breakdowns have stalled production. b. The production facility was designed for a lower level of output. c. The wholesale prices of grains and fruit have risen due to market demands. d. The cost of producing an additional box of cereal is less than the factory’s average total cost.
For a wheat farmer in the middle of harvesting system, a fixed input would be
A. the land that had been planted. B. trucks rented to haul the wheat. C. workers hired. D. combines rented.