The distribution of income
a. is about the same in most countries
b. tends to be more equal in developing countries than in developed countries
c. is more concentrated in the United States than in Canada or Japan
d. is more even in developing countries than in the Russia
e. is not related to a country's level of development
C
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An industry in which economies of scale allow one firm to supply the entire market at the lowest possible cost is called a
A) legal monopoly. B) natural monopoly. C) single-price monopoly. D) one-firm monopoly.
The above figure is referred to as a(n)
A) trade-off curve. B) opportunity curve. C) production possibilities curve. D) scarcity-shortage curve.
Other things being equal, the monopolist will
A) hire more workers than if the industry were perfectly competitive. B) hire the same number of workers as a perfectly competitive industry would. C) hire fewer workers than if the industry were perfectly competitive. D) have lower profits than if the industry were perfectly competitive.
An upward shift in the Fed's policy reaction function is a(n) ________ of monetary policy, and the aggregate demand curve ________.
A. tightening; shifts left B. easing; shifts left C. easing; shifts right D. tightening; shifts right