From 1970 to 2012, the Gini coefficient in the United States has
A) steadily increased.
B) remained relatively unchanged.
C) dramatically decreased.
D) more than doubled.
A
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If one firm sets the market price
a. the market is perfectly competitive b. the market is not perfectly competitive c. there are a large number of buyers who can buy from a wide range of competitors d. there is free entry into the market e. its product must be a standardized commodity, produced by many competitors
Suppose the supply of dollars decreased from S2 to S1 in Figure 36.3. As a result of this change,
A. A trade deficit will be created in Switzerland. B. Swiss chocolate imports to the United States will be lower-priced in dollars. C. The Swiss franc will gain value worldwide. D. U.S. computer exports to Switzerland will be lower-priced in dollars.