Refer to the graph below illustrating the Lorenz Curves for Sweden, the United States, and Brazil. Which country has the greatest equality in the distribution of income?
a. Sweden
b. United States
c. Brazil
d. The greatest equality in the distribution of income cannot be determined from this graph
a. Sweden
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In the United States in 2014, over 90 percent of people without health insurance were below the age of 35
Indicate whether the statement is true or false
Identify the error in judgment in each of the following statements: I. "If you leave a concert during the encore, you will avoid traffic and get home more rapidly; therefore everyone should leave during the encore." II. "Whenever I wear my lucky baseball cap to an exam, I receive an "A." My baseball cap must induce the teacher to give me good grades."
Assuming that workers are fully aware of their working conditions, which of the following will not happen when the government mandates pollution control to protect workers' health?
A. Wages will fall at all but the cleanest firms. B. Firms with low profits before the mandate may shut down or exit the industry. C. The air in workplaces will become cleaner. D. Employment will likely decrease. E. Worker utility will increase.
If supply is perfectly elastic, the price elasticity of supply is equal to:
A. 1. B. 0. C. infinity. D. a positive number between 0 and infinity.