The United States has the least income inequality of all the nations in the world.
Answer the following statement true (T) or false (F)
False
The United States has less income inequality than most developing countries but more income inequality than many developed countries.
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How can a sole proprietorship raise funds needed for firm expansion?
What will be an ideal response?
Monopoly powers given to domestic utility companies to create economies-of-scale might unintentionally
A) be an obstacle to increased international trade. B) be useful for the creation of a comparative advantage for the domestic country. C) not be used for rent-seeking behaviors. D) be a positive externality for the world as a whole. E) None of the above.
Which of the following is a difference between a perfectly elastic demand curve and a perfectly inelastic demand curve?
a. A perfectly elastic demand curve is parallel to the horizontal axis, while a perfectly inelastic demand curve is parallel to the vertical axis. b. A perfectly elastic demand curve is parallel to the vertical axis, while a perfectly inelastic demand curve is parallel to the horizontal axis. c. A perfectly elastic demand curve is downward sloping, while a perfectly inelastic demand curve is upward sloping. d. A perfectly elastic demand curve is upward sloping, while a perfectly inelastic demand curve is downward sloping.
At a zero price, which of the following conditions is TRUE for an economic good?
A) Its quantity supplied exceeds its quantity demanded. B) Its quantity demanded exceeds its quantity supplied. C) Its quantity demanded equals its quantity supplied. D) Scarcity disappears.