In 2013, the income share of the lowest quintile was:
A. 3 percent.
B. 20 percent.
C. 90 percent.
D. 47 percent.
Answer: A
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Refer to the figure above. What is the change in consumer surplus when the market changes from perfect competition to a monopoly?
A) The consumer surplus increases by 30 units. B) The consumer surplus decreases by 45 units. C) The consumer surplus increases by 90 units. D) The consumer surplus decreases by 135 units.
"Although the United States is running a large current account deficit, it is still ranked as a major international net lender." Is the previous statement correct or incorrect? Briefly explain your answer
What will be an ideal response?
Perfect competition requires that three conditions be satisfied.
Answer the following statement true (T) or false (F)
U.S. exports:
a. rise as our GDP rises, and fall as our GDP falls b. fall as our GDP rises, and rise as our GDP falls c. are insensitive to our GDP d. have no relation to our GDP