Which of the following lists correctly ranks countries from most equal to least equal distribution of income?
a. Nigeria, India, Mexico, Germany
b. Brazil, United States, India, Japan
c. United States, Ethiopia, Japan, South Africa
d. Japan, India, United States, Brazil
d
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Which of the following would shift the supply curve for smartphones to the right?
A) an increase in the price of a substitute in production B) an increase in consumer income (assuming that all smartphones are normal goods) C) a decrease in the number of firms that produce smartphones D) a decrease in the price of an input used to produce smartphones
The rate of production that maximizes the positive difference between total revenues and total costs is the
A) profit-maximizing rate of production. B) rate of production at which marginal revenue equals marginal product. C) rate of production at which marginal revenue equals average revenue. D) rate of production at which average revenue equals average total cost.