Since 1929, the distribution of money income in the United States has
A. shifted toward the poorer 20 percent away from the richer 20 percent.
B. become more equal.
C. become slightly more unequal.
D. not dramatically changed.
Answer: B
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In a Sweezy Oligopoly, a decrease in a firm's marginal cost generally leads to:
A. increased output and a lower price. B. higher output and a higher price. C. reduced output and a higher price. D. None of the answers is correct.
Refer to the data for a nondiscriminating monopolist. At its profit-maximizing output, this firm's total costs will be:
A. $300.
B. $248.
C. $198.
D. $126.
In the Golden Rule steady state, the marginal product of capital is equal to the
A) savings rate plus the population growth rate. B) population growth rate plus the depreciation rate. C) depreciation rate plus the savings rate. D) savings rate divided by the marginal product of labor.
A technological innovation that increases the marginal physical product of capital would eventually result in a(n)
a. increase in the interest rate b. decrease in the interest rate c. shift to the right of the supply curve of loanable funds d. increase in the quantity demanded of loanable funds and a decrease in the quantity supplied of loanable funds, which leaves the interest rate unchanged e. shift to the left of the supply curve of loanable funds