The United States has greater income
a. disparity than most other economically advanced countries, but a more equal income distribution than some developing countries.
b. disparity than both other economically advanced and all developing countries.
c. equality than most other economically advanced countries but greater income disparity than some developing countries.
d. equality than both other economically advanced and developing countries.
a
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Because people prefer name-brand pain-relieving drugs over store-brand pain-relieving drugs, demand curves do not slope downward for pain-relieving drugs
Indicate whether the statement is true or false
Under competitive conditions, the relative price of a finite resource would be expected to:
a. rise at an increasing rate. b. rise at a rate equal to the real interest rate. c. rise at a rate equal to the nominal interest rate. d. rise at a rate determined by demand conditions.