In 2003, the per-capita income in China was roughly ________ of that in the U.S

A) one hundredth
B) one eighth
C) one half
D) the same as
E) one twentieth

B

Economics

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Which of the following models results in the greatest deadweight loss assuming a fixed number of firms with identical costs and a given demand curve?

A) Cournot B) Stackelberg C) Monopoly D) Perfect competition

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When society can not produce all the goods and services people want, it is faced with a. scarcity

b. surpluses. c. inefficiencies. d. inequalities.

Economics