In the above figure, the curve that represents the second most income equality is
A) a.
B) b.
C) c.
D) d.
B
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In an indifference curve/budget line framework, how does a consumer decide which of all possible combinations of goods to purchase?
What will be an ideal response?
In the food and kindred products industry, it is estimated that the elasticity of output with respect to labor is 0.43 and the elasticity of output with respect to capital is 0.48
These two measures indicate that the primary metals industry is characterized by A) decreasing returns to scale. B) constant returns to scale. C) increasing returns to scale. D) no returns to scale.
State enforcement of OSHA requirements appears to have been more effective than federal enforcement
Indicate whether the statement is true or false
Velocity can be calculated as the ratio of:
A. nominal GDP to the money supply. B. the money supply to the price level. C. nominal GDP to real GNP. D. real GDP to the price level.