A Gini coefficient of 0.1 represents more inequality in income distribution than a Gini coefficient of 0.9.
Answer the following statement true (T) or false (F)
False
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The absolute price of beef in Japan is $10.00 per pound and the absolute price of tuna is $5.00 per pound then the relative price of tuna in terms of beef is
a. one-half. b. two. c. fifteen. d. fifty.
In the year that a bakery buys a new $100,000 oven by borrowing at a real interest rate of 5 percent, the oven adds $22,000 to bread sales, depreciates by $8000, and requires $3000 in natural gas and maintenance
Since the MPK is ________ the user cost of capital, the bakery should ________. A) above, shut down the oven B) above, consider buying more ovens C) below, shut down the oven D) below, consider buying more ovens
The goal of the business firms in a market economy is to maximize
A. Total sales. B. Total utility. C. Total profits. D. Total welfare.
The sum of the value added at all stages of production for a product is
A. the product's final price. B. the sum of all the transactions in the production of the product. C. the product's price minus the value of intermediate goods. D. the product's price plus the value of intermediate goods.