Which of the following will not occur when government policies are enacted to make the distribution of income more equitable?
a. People will alter their behaviors.
b. Incentives will be distorted.
c. Total utility will likely remain constant.
d. The allocation of resources will be less efficient .
c
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Refer to above Table 2-1. What is the level of Net Private Domestic Investment?
A) 420 B) 780 C) 380 D) 340
Relative to a monopolist charging a single price to all consumers, price discrimination ________ total economic surplus.
A. increases B. sometimes increases and sometimes decreases C. decreases D. has no effect on
Which of the following best describes a firm that is showing economic profits?
a. The firm’s revenue is adequate to cover its explicit costs. b. The payments the firm has made are greater than its implicit costs. c. The firm has taken in enough money to cover its total opportunity costs. d. The per-unit cost of production for the firm is at its minimum.
Differences in the amounts and quality of education and training:
A. combine with differences in mental, physical, and aesthetic talents to produce income inequality. B. explain none of the income inequality in the United States. C. explain nearly all the income inequality in the United States. D. have lessened in the United States in the past decade, sharply reducing income inequality.