Refer to the figure below. In Venezuela, there are a very small number of extremely wealthy households and an extremely large number of very poor households. If the United States is represented by Lorenz curve c above, which curve would represent Venezuela?
A. a
B. b
C. c
D. d
C. c
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An economist would refer to an oil deposit as which type of resource?
a. land b. labor c. human capital d. physical capital e. entrepreneurship
Which of the following is a reason why the labor demand curve would shift rightward?
a. A decrease in the amount of capital equipment b. An increase in educational attainment of the population c. A shift to earlier retirement d. An increase in population e. An increase in the number of two-family households
If mining companies are indifferent between operating and not operating a quarry, that quarry is
a. discounted. b. usurious. c. marginal. d. nonexcludable.
In 2011, what percentage of federal government receipts came from corporate income taxes?
a. 7% b. 12% c. 25% d. 43%