Which of the following countries has the most equal income distribution?
A. Sweden
B. Japan
C. United States
D. The Netherlands
Answer: A
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Consider a commonly owned fishery in a market with no other fisheries. Given the Tragedy of the Commons, it is more efficient to let a single firm take over the fishery even if that gives the firm monopoly power.
Answer the following statement true (T) or false (F)
The source of power for a labor union is its ability to
a. increase the supply of labor b. decrease the demand for capital c. increase the quantity supplied of labor d. decrease the quantity supplied of labor e. decrease the supply of labor
If the marginal propensity to consume is 0.6, what is the value of the expenditure multiplier?
a. 1.0 b. 1.6 c. 2.0 d. 2.5 e. 6.0
Why does price discrimination work in the sale of seats to children and adults at baseball games, but not to the sale of food at concession stands to children and adults at baseball games?
What will be an ideal response?