The difference between individual and aggregate demand is
a. Individual demand is the total demand of all the individuals in a market
b. In the aggregate demand, each point represents a single consumer's different values for a single unit of the good
c. In the aggregate demand, each point represents a consumer group's value of the good
d. All of the above
c
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PURPA opened up the possibility that public utilities would purchase electricity from independent producers
Indicate whether the statement is true or false
Empirical observations validate that the Gini co-efficient for the U.S. economy was between 0.35 and 0.37 until the 1990s, after which it has increased and reached 0.469 in 2009 . Which of the following can be inferred from this?
a. The distribution of national income in the U.S. has become slightly more equal since the 1990s. b. The government spending on poverty alleviation has increased since 1990. c. More jobs have been created in the U.S. since 1990. d. The distribution of national income in the U.S. has become slightly more unequal since the 1990s. e. The government has replaced the existing regressive tax structure with a progressive tax structure.
A decrease in supply will increase prices least when demand is
A. perfectly inelastic. B. unit elastic. C. elastic. D. inelastic (but not perfectly inelastic).
How much would the real rate of interest be if the nominal interest rate were 15 percent and the expected rate of inflation were 8 percent?
What will be an ideal response?