When a new Walmart locates in an area, other businesses in the area are
A. both helped and hurt.
B. all helped.
C. all hurt.
D. all unaffected.
Answer: A
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When China embarked on market changes towards urbanization and manufacturing in 1978, urban disposable incomes were 2.6 times greater than rural net income. By 2008 they were 3.3 times bigger. These market changes have led to
A) increased income inequality between rural and urban populations. B) a decreased Gini ratio. C) the Lorenz curve for income to move closer to the line of equality. D) a movement towards a bell-shaped distribution of income.
Marginal product is represented by:
A. the x-axis of the total production curve. B. total product minus the total cost. C. the slope of the total production curve. D. total revenue minus total cost.
The larger the deadweight loss from taxation, the larger the cost of government programs
a. True b. False Indicate whether the statement is true or false
Economists are still puzzled why growth rates in the United States fell from 1973 to 1995.
Answer the following statement true (T) or false (F)