Lizzie's budget line is shown in the figure above. If Lizzie's income is $20, which of the following formulas represents her budget equation?
A) QC = 20 + QM
B) QC = 20 - QM
C) QC = -20 + 2 QM
D) QC = 20 - 2QM
D
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Refer to the scenario above. What is the sum of the present values of the returns from this investment?
A) $12,887.64 B) $14,634.90 C) $19,524.69 D) $29,524.19
The above table shows the distribution of wealth and income for Miseria. What percent of the wealth is owned by the wealthiest twenty percent of the population?
A) 0 percent B) 2 percent C) 5 percent D) 83 percent
In the above figure, the long-run equilibrium price and output are
A) $10 and 10. B) $10 and 12. C) $7 and 8. D) $8 and 10.
Following the sharp increases in oil prices in the United States caused by the OPEC oil embargo of 1973-1974, U.S. automakers started building smaller, more fuel-efficient cars. This development caused the
a. demand curve for oil to shift out. b. demand curve for oil to shift in. c. supply curve of oil to shift out. d. supply curve of oil to shift in.