The lowest two-fifths of our population receives about _____% of our total income.

Industry Y is a perfectly competitive industry. Assume that as a result of changes in other markets there is a twenty percent increase in the price of variable inputs used by firms in industry Y

After all adjustments have taken place, we would expect the equilibrium price in industry Y to: A) decrease and the number of firms to increase. B) decrease and the number of firms to decrease. C) increase and the number of firms to increase. D) increase and the number of firms to decrease.

When Sophie, a French citizen, purchases a Dell computer in Paris, France that was produced in Texas, the purchase is

A) both a U.S. and a French import. B) a U.S. import and a French export. C) a U.S. export and a French import. D) neither an export nor an import for either country.