Inheritance is responsible for about ________ percent of the income inequality in the United States
A) 10
B) 25
C) 40
D) 60
A
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You own a business that answers telephone calls for physicians after their offices close. You have an incentive to substitute capital for labor if the
A) marginal product of labor increases. B) price of labor increases. C) price of capital increases. D) price of labor decreases.
A typical firm in a cartel will hold which of the following attitudes?
A) If everyone cheats, I'm better off, and so is everyone in the cartel. B) If I alone cheat, I'm better off; if everyone cheats, I'm worse off. C) I can never do better for myself than following agreed-upon cartel rules. D) If I suspect others are planning to cheat, I'll do best for myself by deciding not to cheat.
Other things being equal, the effect of a decrease in the price of grapes would be illustrated by
a. a rightward shift in the demand curve for grapes. b. an increase in the quantity demanded for grapes. c. a leftward shift in the demand curve for grapes. d. a decrease in the quantity demanded grapes.
Contractionary policies are policies designed to:
A. increase the level of real GDP. B. reduce the level of real GDP. C. increase government spending. D. increase the federal deficit.