The idea that the Lorenz curve should be along the 45 degree line is consistent with
A) the productivity standard.
B) the egalitarian principle.
C) the conservative principle.
D) none of the above.
Answer: B
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The above table contains information about the nation of Syldavia. There are no income taxes or imports in this nation. The equilibrium expenditure is
A) $25 billion. B) $10 billion. C) $15 billion. D) $20 billion. E) $30 billion.
To maximize the social pie, a tax on pollution must equal the external cost created by the polluting activity
Indicate whether the statement is true or false
In the above figure, without a minimum wage, the equilibrium quantity of labor employed ________ million hours, and the equilibrium wage rate is ________ per hour
A) 100; $2 B) 200; $4 C) 300; $6 D) 400; $8
Suppose a trade secret's owner has successfully proven in court that an infringer has illegally used the trade secret. If the trade secret's owner has lost $10 million in profits because of the infringement and the infringer has earned $6 million in profit as a result of illegally using the trade secret, the trade secret's owner will be awarded ________.
A) $4 million B) $10 million C) $16 million D) $6 million