If an economy has perfect income equality, its Gini coefficient would be
a. 1
b. 100 percent
c. 100
d. 0
e. 50–50
D
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The figure illustrates the demand for hamburgers. When the price is $1.00 a hamburger, the elasticity of demand is ________ and a 1 percent increase in the price will ________ the quantity of hamburgers demanded by ________ percent
A) 1.00; decrease; 0.40 B) 0.40; decrease; 0.40 C) 2.50; increase; 2.50 D) 5.00; decrease; 5.00
In order to derive an individual's demand curve for salmon, we would observe what happens to the utility-maximizing bundle when we change
A) income and hold everything else constant. B) tastes and preferences and hold everything else constant. C) the price of a close substitute and hold everything else constant. D) the price of the product and hold everything else constant.
Refer to Table 20-14. The real average hourly earnings for 1965 in 2010 dollars equal
A) $3.87. B) $5.80. C) $12.10. D) $18.14.
Which of the following is true?
a. both b and c b. the U.S. capital account records international transactions involving purchases of investments c. the U.S. capital account records international transactions involving sales of investments d. U.S. capital refers to the export of real capital only e. U.S. capital outflows result when foreigners purchase U.S. assets