During the 1920s, income inequality ______ and the return on schooling was relatively _____
a. increased; low
b. increased; high
c. decreased; low
d. decreased; high
b. increased; high
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The figure above shows Diane's demand curve for soda. The price of a soda is $1.00. Diane's total benefit from consuming 15 sodas is
A) $15.00. B) $26.25. C) $11.25. D) $0. E) None of the above answers is correct.
If the statistical discrepancy is zero, in order to calculate GDP from the value of net domestic product at factor cost, we must add
A) the value of intermediate goods and subtract the value of imports. B) direct taxes, subtract corporate profit, and add investment. C) indirect taxes, subtract subsidies, and add depreciation. D) subsidies, subtract indirect taxes and depreciation. E) indirect taxes, subsidies, and depreciation.
Refer to Scenario 12.3. What will be the price of this new drink in the long run if the industry is a Cournot duopoly?
A) $3 B) $9 C) $12 D) $13.50 E) none of the above
Refer to Table 9.2. (Data are expressed in billions of dollars.)Table 9.2Full Employment Income (Output)Consumers Desire to SpendInvestors Desire to SpendTotal Private SpendingTotal Saving$500$300$250$________$________600375250$________$________700450250$________$________800525250$________$________Given the information in Table 9.2, saving is equal to $200 billion at an output level of
A. $600 billion. B. $700 billion. C. $500 billion. D. $800 billion.