Which of the following leads to a movement along the demand curve for spinach but does not shift the demand curve for spinach?
A) a rise in the price of spinach
B) a newly discovered health benefit from eating spinach
C) an increase in the price of broccoli, a substitute for spinach
D) an increase in income for all spinach lovers
A
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One way to increase economic efficiency in saving lives is to
a. shift resources toward methods with low cost per life saved b. shift resources toward methods with high cost per life saved c. allocate more resources to saving lives d. allocate fewer resources to saving lives e. move along the production possibilities frontier and increase the number of lives saved
An actual Lorenz curve shows
A. the relationship between income and tax revenue. B. the maximum and minimum wage gaps. C. the relationship between income and earnings potential. D. the share of income received by age group. E. the cumulative share of income earned by quintiles of households.