In the United States
A) there are more households with incomes below the mean income than above the mean income.
B) there are more households with incomes above the mean income than below the mean income.
C) the mode income equals the mean income.
D) the income distribution is bell shaped.
A
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The U.S. antitrust laws
A) aid monopolies in their quest to dominate the market for a good or service. B) are outdated and rarely used anymore. C) promote competition. D) are administered by the Department of Commerce.
If the supply curve is S and the demand curve shifts from D to D', what is the increase in producer surplus due to new producers entering the market?
a. $625
b. $2,500
c. $3,125
d. $5,625
If MFC > MRPL, the firm should
A. get rid of some capital. B. lower wages. C. reduce the number of workers. D. hire more workers.
If planned investment increases, equilibrium will be restored only when saving has increased by exactly the amount of the initial increase in planned investment, assuming there is no government or foreign sector.
Answer the following statement true (T) or false (F)