Refer to the above table. If the consumer's equilibrium consists of 3 movies and 6 apple pies, then we know that
A. the price of a movie download is 6 times more than the price of an apple pie.
B. the price of a movie download is 4.5 times more than the price of an apple pie.
C. the price of an apple pie is 3 times more than the price of a movie download.
D. the price of an apple pie is 2 times more than the price of a movie download.
Answer: A
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Income is distributed ________ equally than wealth and the Lorenz curve for ________ lies closer to the line of equality
A) more; income B) more; wealth C) less; income D) less; wealth
How much do you believe that current tax policy is influenced by politics, as opposed to sound and efficient tax policy?
What will be an ideal response?
The multiplier principle is important because it
a. was central to economic theory before Keynes. b. implies that investment will help stabilize the economy. c. shows why small shifts in investment have a powerful influence on national income. d. illustrates why a small change in income causes a large change in saving.
Treasury Bonds are
a. liquid, but not a store of value. b. a store of value, but not liquid. c. both liquid and a store of value. d. neither liquid nor a store of value.