On a graph for the Gini Coefficient, the Gini Coefficient is calculated by ______.
a. multiplying area A by area B
b. dividing area A by area B
c. multiplying area A by area A + B
d. dividing area A by area A + B
d. dividing area A by area A + B
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It is expected that the price of a bushel of wheat will increase in one month. This belief will result in
A) a decrease in the future supply of wheat. B) an increase in the current supply of wheat. C) a decrease in the current supply of wheat. D) no change in the current or future supply of wheat. E) an increase in the current quantity supplied of wheat.
Resource use is efficient when
A) marginal social benefit exceeds marginal social cost. B) marginal social cost is decreasing. C) marginal social benefit equals marginal social cost. D) marginal social benefit is increasing.
Since 1950
A) the average length of expansions in the United States have become longer as compared to before 1950. B) the average length of expansions in the United States are about the same length as compared to before 1950. C) the average length of expansions in the United States have become shorter as compared to before 1950. D) economic expansions in the United States have been so short that expansions barely exist.
At $30 each, Jack will buy 1 Blu-ray and at $25, he will purchase 2 . If the price is $20, Jack's consumer surplus is:
a. $10. b. $15. c. $20. d. $25.