When the income distribution is described by and labeled A, what is the value of the Gini coefficient?
a. 0
b. 45
c. 1
d. 2
0
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Suppose monetary policy results in the exchange rate falling. As a result,
A) exports do not change because they are autonomous and imports decrease. B) net exports decrease. C) exports increase and imports increase. D) exports decrease and imports decrease. E) net exports increase.
If the total cost of production for 1000 widgets is $2000 and marginal cost is constant at $1, what is the average fixed cost for the 1000 widgets?
A) $2 B) $1.50 C) $1 D) $0.50
The infant industry argument is based on the idea that:
a. competitive pressure from established foreign firms would encourage the infant industry's prospects for future growth. b. failure to shelter these infant industries tends to lead to political instability. c. small firms must be protected. d. none of these.
Human capital is
a. money used by an entrepreneur to build a business b. another expression for slave labor c. a concept used by sociologists but not economists d. knowledge and skills acquired through education and training e. a robot