In the figure above, line A represents the
A) the line of market income distribution.
B) line of equality.
C) line of equal number of people in each household.
D) line of equal consumption in each household.
B
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During the era from 1880 to 1920, the U.S. economy experienced a rise in big business, an expansion in industry and increased concentration in both
Indicate whether the statement is true or false
World output of goods and services increases with specialization because
A. Each country's workers are willing to work harder than they did before specialization. B. The world's workers are more educated than before specialization. C. Each country's production possibilities curve shifts rightward. D. The world's resources are being used more efficiently.
A rightward shift of the market demand curve for drones, ceteris paribus, causes equilibrium
A. Price to increase and equilibrium quantity to increase. B. Price to decrease and equilibrium quantity to increase. C. Price to increase and equilibrium quantity to decrease. D. Price to decrease and equilibrium quantity to decrease.
The omitted-variable problem in statistical analysis occurs when
A. the demand for the product has not been stable over time. B. excluded variables are correlated with explanatory variables that are included in the analysis. C. the price of the product has been relatively unstable over time. D. there is no uniform result because the accounted variables are not affected by changes in other variables.