In the United States since World War II, there has been
a. a dramatic increase in the population living in rural areas
b. a decline in the number of women in the labor force
c. a decrease in the opportunity cost of working in the home
d. more specialization of production within households
e. a dramatic increase in the number of married women in the labor force
E
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What is a centrally planned economy?
What will be an ideal response?
Refer to the diagrams that show identical marginal utility from income curves for Singer and Catalano. If a given income of $20,000 is initially distributed so that Singer receives $15,000 and Catalano $5,000:
A. no judgment can be made as to the effect of a redistribution of income on total utility.
B. this initial distribution of income is maximizing the combined total utility of the two consumers.
C. the combined total utility of the two consumers can be increased by redistributing income from Catalano to Singer.
D. the combined total utility of the two consumers can be increased by redistributing income
from Singer to Catalano.