In the above figure, point ________ shows an equal distribution of income, while point ________ shows an unequal distribution of income
A) a, b
B) b, c
C) b, a
D) a, d
C
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When tastes are not quasilinear, the positive economist will introduce error into the analysis if he uses the uncompensated (rather than the compensated) demand curve to analyze changes in consumer surplus.
Answer the following statement true (T) or false (F)
The Justice Department is most likely to oppose a proposed merger on the basis of the Herfindahl-Hirschman Index when the post-merger HHI is:
A) less than 100. B) less than 1000. C) between 1000 and 1800. D) greater than 1800.
In Figure 3-7 above, the multiplier for a change in autonomous taxes is
A) 5. B) 4. C) 2.50. D) 1.
Which would be a positive economic statement?
a. Government should provide free housing shelter for the homeless b. Stock prices rose to a new record last month for the fourth month in a row c. The minimum wage should be increased to give people a decent wage d. Americans should buy American products to boost the national economy