The 45° line on a Lorenz curve represents
A. complete income inequality.
B. complete wealth equality.
C. complete wealth inequality.
D. complete income equality.
Answer: D
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An increase in fixed costs will lower a firm's
a. total cost. b. output. c. prices. d. profit.
The United States health care reforms listed in the PPACA will lead to __________.
increased economic efficiency in delivering health care services
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greater government involvement in the health care system
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market-based solutions to control rising health care spending
- I DON'T KNOW YET
If a firm has already paid or has agreed to pay for something, we that cost:
A. a fixed cost. B. a spent cost. C. a sunk cost. D. a lost cost.
A tax imposed by a government on imports of a good into a country is called
A) an import levy. B) an import fine. C) a tariff. D) an import quota.