A geometric representation of the distribution of income is referred to as
A. the Lorenz curve.
B. the labor supply curve.
C. the Phillips curve.
D. the Keynesian cross.
Answer: A
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The United States is the largest national economy in the world.
Answer the following statement true (T) or false (F)
Keeping landing fees low at airports during the “peak” hours
A. perpetuates congestion during those hours. B. is politically unpopular. C. contributes to efficient allocation of airport facilities. D. would lessen the problem of delayed flight landings.
If we consider the period from 1973 to 2007, real wages were the lowest around the year
A. 1973. B. 1979. C. 1986. D. 1996.
The number of people unemployed equals
A. the number of people employed divided by the labor force. B. the number of people employed minus the labor force. C. the labor force minus the number of people employed. D. the labor force plus the number of people employed.