Compared to the distribution of money income, the distribution of wealth is
A) about the same.
B) much more equal.
C) much less equal.
D) a little more equal.
C
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The average benefit of n units of an activity is the:
A. extra benefit from carrying out one additional unit of the activity. B. n divided by the total benefit of n units. C. n times the total benefit of n units. D. total benefit of n units divided by n.
"Duopoly" is
A) another name for monopoly. B) a special type of monopolistic competition. C) a two-firm oligopoly. D) a game with three players. E) the situation when a firm sets a duo (two) of different prices for its customers.
In order to minimize deadweight loss generated by taxation, a tax should be placed on goods that are:
A. price elastic. B. price inelastic. C. expensive. D. popular.
An event that allows the economy to operate more efficiently by producing more outputs without using any more inputs is referred to as:
A. absolute progress. B. efficiency progress. C. capital investment. D. technological progress.