What did the high-growth Asian economies do to share wealth across all levels of society?
What will be an ideal response?
The high-income Asian economies emphasized land reform, free public education, free basic health care, and significant investments in rural infrastructure, such as clean water, transportation, and communication systems.
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The figure above shows the market for coffee. If 10 million pounds of coffee a month are available, the ________ price that consumers are willing to pay for the last pound is ________
A) maximum; $2.00 B) maximum; $3.50 C) minimum; $2.00 D) minimum; $3.50
Which of the following firms is not able to practice price discrimination?
A) commercial airlines B) the largest wheat farmer in Nebraska C) land-line telephone companies D) movie theaters
Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
What is marginal utility? Why is the term "marginal" important in utility analysis?
What will be an ideal response?