As you move down the production possibility frontier, the absolute value of the marginal rate of transformation
A. increases.
B. initially decreases, then increases.
C. decreases.
D. initially increases, then decreases.
Answer: A
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When we compare shares of income earned by U.S. households, which of the following statements about the distribution of income is true?
A) Shares of income decrease as we move from the lowest quintile to the highest quintile. B) Shares of income increase as we move from the lowest quintile to the highest quintile. C) Shares of income remain fairly constant as we move from the lowest quintile to the highest quintile. D) Shares of income decrease as we move from the lowest quintile to middle quintile, and then decrease from the middle quintile to the highest quintile.
________ is the ability to move to a different part of the income distribution
Fill in the blank(s) with correct word
In an efficient market, deadweight loss is ____
a. maximum. b. minimum. c. constant. d. zero.
The key difference between a stock and a flow is that a flow is measured ________ , while a stock is measured ________
a. at a point in time; over an interval of time b. over an interval of time; at a point in time c. over a single year; over a single month d. over a single month; over a single year