The iso-revenue curve will shift to the right
A) If the production possibilities curve expands. B) If the level of income increases.
C) If the price of the two commodities increases. D) None of the above
Answer: B
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Which of the following government actions is appropriate in a market with an external benefit?
A) taxes B) vouchers C) marketable permits D) setting a tax equal to the transactions costs E) price ceiling
In the figure above, the single-price, unregulated monopoly produces
A) less than 19 units per day. B) 20 units per day. C) between 21 and 39 units per day. D) 40 or more units per day.
The Lorenz curve shows the
a. functional distribution of income b. personal distribution of income c. relative percentage of income going to each of the resources d. demand for unskilled versus unskilled labor e. cumulative percentage of income received by cumulative percentages of households
The PE ratio is determined by dividing the earnings per share by the current market price of the stock
a. True b. False Indicate whether the statement is true or false