Kuznets's investigations of development suggested that income
a. generally becomes more unequal as development progresses
b. generally becomes more unequal up to a point, then becomes more equal
c. generally becomes more equal as development progresses
d. generally become more equal up to a point, then become more unequal
e. none of the above
B
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A firm's expansion path is
A) the firm's production function. B) a curve that makes the marginal product of the last unit of each input equal for each output. C) a curve that shows the least-cost combination of inputs needed to produce each level of output for given input prices. D) none of the above
Those who generally have low willingness to take on risk are said to be:
A. risk-seekers. B. risk-averse. C. low-risk players. D. high-compensation players.
The nominal interest rate is 6 percent and the inflation rate is 3 percent. What is the real interest rate?
a. 9 percent b. 2 percent c. 18 percent d. 3 percent
Geographically, a higher percentage of the poor live in the
a. Northeast. b. South. c. Midwest. d. West.