It has been found that
A. less-developed countries have more equality of income distribution.
B. more-developed countries have more equality of income distribution.
C. only prior communist countries have more equality of income distribution.
D. income distribution cannot be measured among countries with different political and economic systems.
Answer: B
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Which of the following is characteristic of oligopoly, but NOT of monopolistic competition?
A) The choices made by one firm have a significant effect on other firms. B) Each firm faces a downward-sloping demand curve. C) Firms are profit-maximizers. D) There is more than one firm in the industry.
If the economy in the graph shown is currently at point D, we can conclude the:
A. economy is in an economic boom.
B. government may want to enact contractionary fiscal policy.
C. unemployment rate is likely very low.
D. All of these are likely to be true.