The Lorenz curve showing perfect income equality would be
A. I.
B. J.
C. K.
D. L.
B. J.
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If we moved from point T to point R we would be
A. giving up trips for more transplants.
B. giving up transplants for more trips.
C. gaining both trips and transplants.
D. losing both trips and transplants.
The "New Deal" measures introduced in 1933 and 1934 to end the depression
(a) brought about almost complete recovery by the mid-1930s. (b) were not completely successful in ending the Depression, which lasted until the beginning of World War II. (c) actually interfered with recovery, and the Depression worsened in the mid-1930s. (d) were not very successful at first but finally ended the Depression by the late 1930s.
Suppose a firm wants to build a new factory that would add pollution to an already polluted area. Under an offset program, the firm must:
a. install scrubbers and other government-mandated equipment. b. purchase pollution permits from the government. c. reduce or eliminate an old pollution source in the area. d. pay a tax which depends on the amount of pollution created.
Consider a market consisting of two firms where the inverse demand curve is given by P = 500 ? 2(Q1 + Q2). If the Stackelberg leader's and follower's marginal costs are zero, the leader's marginal revenue is:
A. MR(QL, QF) = 125 ? QL + 0.5QF. B. MR(QF) = 250 ? 2QF. C. MR(QL) = 250 ? 2QL. D. MR(QL, QF) = 125 ? 0.5QL + QF.