Over the last few decades, the U.S. Gini coefficient has
a. become negative
b. increased moderately
c. decreased moderately
d. decreased dramatically
e. fallen from 1.50 to less than 0.25
B
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The supplier of a factor of production has a reservation price of $100. The purchaser of the factor of production has a reservation price of $200. If the factor of production is unique, then:
A. a transaction will occur, and the price paid for the factor of production will be $150. B. a transaction will occur, and the price paid for the factor of production will be $100. C. there will be no transaction since $200 is greater than $100. D. a transaction will occur, and the price paid for the factor of production will be $200.
People who do not work because of physical disability are officially classified as:
a. in the labor force. b. unemployed. c. not in the labor force. d. discouraged worker.
If resources and goods are free to move across states and if Oregon producers choose to specialize in producing honey while California producers choose to specialize in growing almonds, then we could reasonable conclude that:
a. California has a comparative advantage in producing almonds b. Oregon has a comparative advantage in producing honey. c. the opportunity cost of growing almonds is lower in California than in Oregon. d. all of the above are true.
Lack of access to sanitation and inadequate medical care have a negative impact on the development of human capital.
Answer the following statement true (T) or false (F)