Of the following countries, which has the lowest level of income inequality?
A. Slovenia
B. Mexico
C. Japan
D. Greece
Answer: A
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When government owns a natural monopoly and avoids subsidies, it:
A. sets price above marginal cost. B. still creates deadweight loss. C. recognizes setting price equal to marginal cost would cause the enterprise to incur losses. D. All of these statements are true.
If government expenditures exceed tax receipts then, other things being constant
A. a surplus exists. B. a balanced budget exists. C. the public debt will rise. D. the deficit becomes smaller.
When the price of pens went from $1 to $1.50, the quantity demanded of pencils changed from 50 to 75 a day. The cross-price elasticity of demand for pencils (using the initial value formula) is:
A. 1. B. 0.4. C. 0.2. D. -0.2.
If the world real interest rate were 6% and the domestic real interest rate in Denmark was 9%, borrowers in Denmark would borrow at the rate of ________ and lenders in Denmark would lend at the rate of ________
A) 6%; 6% B) 6%; 9% C) 9%; 6% D) 9%; 9%