The lowest two-fifths of our population receives about _____% of our total income.
A. 5
B. 9
C. 12
D. 18
C. 12
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In the Mundell-Fleming model, regardless of whether the economy has perfect capital mobility or not, an increase in the money supply
a. reduces interest rates . b. increases income. c. decreases the trade balance. d. increases capital inflows.
According to the law of diminishing returns
a. Production increases at a decreasing rate b. Production increases at a increasing rate c. Production decreases at a decreasing rate d. Production decreases at an increasing rate
Suppliers who are kept out of the market generally do not retaliate because:
A. they aren't hurt by the restriction. B. the costs of organizing and lobbying exceed the expected gains. C. government prevents them from organizing. D. the costs of organizing are higher than those of demanders.
Refer to Figure 3.1. Which graph best represents the total cost of an activity?
A. A
B. B
C. C
D. D