On a graph for the Gini Coefficient, perfect equality would be represented by the equation ______.
a. G = -1
b. G = 0
c. G = 1
d. G = 100
b. G = 0
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The table above gives the utility from pens and pencils. If the consumer has an income of $4, pens cost $1, and pencils cost $.20, which of the following combinations maximizes the consumer's utility?
A) 4 pens and 0 pencils B) 3 pens and 5 pencils C) 3 pens and 6 pencils D) no combination shown
What does it mean for a good to be non-rival in consumption?
What will be an ideal response?
Which of the following is an ultimate objective of the Federal Reserve?
A) Real GDP growth B) M1 growth C) M2 growth D) Low interest rates
The concepts of comparative advantage, specialization, and trade:
A. can be useful in explaining why countries import and export certain goods. B. can be useful in explaining why individuals typically work at one job, and buy the other goods and services they need. C. can be useful in explaining why we allow ourselves to be interdependent on others. D. All of the statements are true.