Judge the following statements ( ) Input and output markets are independent, tha
ID: 1162524 • Letter: J
Question
Judge the following statements
( ) Input and output markets are independent, that is why we can analyze them separately.
( ) Partial equilibrium analysis is the process of examining the equilibrium conditions for households and firms and in individual markets separately.
( ) Health care's benefit to society is an example of a public good.
( ) A Gini coefficient close to 1 indicates more equal distribution of income.
( ) Income and wealth refer to the same, so they can be used indistinctively.
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C.FTFFF
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E.FTTTF
Explanation / Answer
The answer is "C", FTFFF.
Input and output market are not independent. as the input rise, the output will rise, Healthcare benefits are not public goods they are excludable and rival goods, so they don't fulfill the top two criteria to be a public good.
Gini coefficient close to 1 is inequal closer to zero is more equal. An accumulation of income is wealth.
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