Members of the top quintile of income earners in every country today:
A. earn disproportionately more than those in the bottom quintile.
B. earn disproportionately less than those in the middle quintile.
C. earn disproportionately less than they did 100 years ago.
D. All of these are true.
Answer: A
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When the Fed ________ interest rates, bond prices ________
A) raises; do not change B) raises; rise C) lowers; rise D) lowers; do not change
The midpoint formula is used to measure the elasticity of demand between two points on a demand curve
A) when demand is elastic. B) to ensure that the elasticity has a negative value. C) to ensure that we have only one value of the price elasticity of demand between two points on a demand curve. D) in special cases when the percentage change in the quantity demanded is equal to the percentage change in price.
If prejudice originates with employers, market forces work to reduce discrimination and lower wage differences between the favored and unfavored groups
a. True b. False
A technically efficient method of production produces a given level of output at the lowest possible cost.
Answer the following statement true (T) or false (F)