Inefficient resource allocation is a major problem with monopolies.
Answer the following statement true (T) or false (F)
True
Economics
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In the figure above, if income were distributed equally across all households, the richest 20 percent of households would receive ________ of total income
A) 45 percent B) 25 percent C) 20 percent D) 15 percent
Economics
Whether or not a reduction in the budget deficit is a pro-growth measure depends on how the budget deficit shrinks
a. True b. False
Economics
The "free rider" problem occurs when a good is
a. not available. b. not excludable. c. not depletable. d. not sold in free markets.
Economics
The production possibilities frontier (PPF) illustrates the combinations of goods that society can consume when trading with other producers
a. True b. False Indicate whether the statement is true or false
Economics