Which of the following would be a significant cause of income inequality in the United States?
A. Housing
B. Discrimination
C. In-kind transfers
D. Social Security
B. Discrimination
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In a certain economy, the components of aggregate spending are given by: C = 500 + 0.8(Y - T) - 300rI = 200 - 400rG = 200NX = 10T = 150 Given the information about the economy above, what is the short-run equilibrium output if the real interest rate is 5 percent?
A. 3,775 B. 1,359 C. 944 D. 3,810
Studies on consumer behavior have found that most people value fairness enough that they will refuse to participate in transactions they consider unfair, even if they are worse off as a result
How does this affect a firm's decision to raise prices in the event of a temporary increase in demand?
If one player defects in a repeated game, and his opponent is following a tit-for-tat strategy, we can predict the opponent will:
A. defect in the next round. B. renegotiate. C. cooperate and try to get his opponent to follow. D. collude.
Vertical relationships can increase profits through
a. preventing firms from evading regulation b. creating a double-markup problem c. better aligning the incentives of manufacturers and retailers d. preventing price discrimination