At the end of the populist cycle, workers are better off than they were before the populist cycle began in terms of real wages and job creation
Indicate whether the statement is true or false
FALSE
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The demand and the supply for a good are each neither perfectly elastic nor perfectly inelastic. If a sales tax on sellers of the good is imposed, the tax is paid by
A) only buyers. B) only sellers. C) both buyers and sellers. D) neither buyers nor sellers.
A cartel is likely to last longer if
A) more new firms enter the market. B) the profits of participating members are relatively stable. C) market prices vary more over time. D) there are more firms in the industry.
When poverty is defined by an relative real income level, what will happen to the poverty rate if the distribution of income is NOT perfectly equal?
A. The poverty rate will increase forever. B. The poverty rate will change, but always exist. C. The poverty rate will eventually be zero. D. The poverty rate will always remain constant.
Maximum Feasible Hourly Production Rates (in Tons) of EitherPizzas or Donuts Using All Available ResourcesProductCountry AlphaCountry BetaPizzas102Donuts1012Use the above table. Assuming constant opportunity costs, the opportunity cost of producing donuts in country Alpha is ________, and the opportunity cost of producing donuts in country Beta is ________.
A. 0.2 pizza; 1.67 donuts B. 1 pizza; 6 donuts C. 1 pizza; 0.17 donut D. 10 donuts; 12 pizzas