Comparing the after-tax distribution of income to the before-tax distribution of income, it is true that the after-tax distribution of income is ________ the before-tax distribution of income.
A. less equally distributed than
B. more equally distributed than
C. exactly the same as
D. more equitably distributed than
Answer: B
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The ________ effect of a price change refers to the impact of a change in the price of a good on a consumer's purchasing power
A) income B) substitution C) ceteris paribus D) demographics
Holding the price of a firm's output constant, if the marginal product of labor increases
A) the marginal products of other inputs also increase. B) the marginal revenue product of labor also increases. C) the marginal revenue product of labor may increase or decrease. D) the marginal revenue product of labor decreases.
Daniel enjoys both soda and pizza, allocating his purchases across these two goods so that his utility is maximized. If Daniel receives one-third as much utility from the last can of soda as from the last slice of pizza, we can say that:
a. the price of pizza is one-third that of soda. b. the price of pizza is equal to that of soda c. the price of pizza is twice that of soda. d. the price of pizza is three times that of soda.
If a country grows at an average rate of 3.5 % per year over a ten year period, then its compounded growth rate over that period is roughly:
A. 41.0%. B. 32.7 %. C. 45.0 %. D. 35.0%.