Which of the following lowers the equilibrium price of a canoe?
A) an increase in the supply of canoes
B) an increase in the demand for canoes
C) an increase in the quantity of canoes supplied
D) a decrease in the supply of canoes
E) Both answers A and B are correct.
A
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Retained earnings are
A) the funds held back to pay out dividends. B) the funds used to pay corporate taxes. C) profits not given out to stockholders. D) the reason there is double taxation.
Marginal revenue of nth unit of output is:
a. total revenue of (n+1)th unit minus total revenue of nth unit. b. total revenue of nth unit minus total revenue of (n-1)th unit. c. total revenue of (n+1)th unit minus total revenue of (n-1)th unit. d. the sum of total revenue of (n+1)th unit and nth unit. e. the sum of total revenue of (n+1)th unit and (n-1)th unit.
A major advantage of automatic stabilizers is that they: a. guarantee that the federal budget will be balanced over the course of the business cycle. b. require no legislative action by Congress to take effect
c. simultaneously stabilize the economy and reduce the size of the public debt. d. automatically produce surpluses during recessions and deficits during economic booms.
In general terms, which of the following statements regarding changes in income inequality in the United States is correct?
A. Inequality has decreased substantially over the last 40 years as witnessed by the Gini coefficient decreasing from about 0.8 in 1970 to just over 0.25 in 2010. B. Inequality has increased slightly over the last 40 years as witnessed by the Gini coefficient increasing from below 0.4 in 1970 to over 0.45 in 2010. C. Inequality has decreased substantially over the last 40 years as witnessed by the Gini coefficient decreasing from about 0.5 in 1970 to almost 0.05 in 2010. D. Inequality has increased substantially over the last 40 years as witnessed by the Gini coefficient increasing from about 0.1 in 1970 to over 0.7 in 2010. E. Inequality has stayed about the same over the last 40 years as witnessed by a Gini coefficient that has hovered around 0.6.