Economists look at which of the following to get a quick visual expression of income distribution?
a. Gini coefficient.
b. IRS records of how much income each household earned.
c. supply and demand curves for resources.
d. Lorenz curve.
e. surveys of business estimates for MRPs.
d
Economics
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A public good is ________ and ________
A) rival; excludable B) nonrival; excludable C) rival; nonexcludable D) nonrival; nonexcludable
Economics
Minneapolis business Rogue Chocolatier sells specialty chocolate bars with a high cocoa content. The price of cocoa beans shot up 44 percent in 2008. How did this affect Rogue's short run costs?
A) Short run variable costs would increase. B) Short run fixed costs would decrease. C) Short run total costs would decrease. D) Short run average fixed costs would increase.
Economics