The Lorenz curve demonstrates:
A. inequality visually; the more linear the curve, the more inequality exists.
B. inequality visually; the more linear the curve, the less inequality exists.
C. average income levels per quintile; the more linear the curve, the more inequality exists.
D. average income levels per capita; the more linear the curve, the less inequality exists.
Answer: B
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China has used a fixed yuan exchange rate and a crawling peg exchange rate. In both cases, China pegs its currency to the
A) U.S. dollar. B) Japanese yen. C) euro. D) Mexican peso.
In a market system, intermediaries in the exchange process are known as
A) producers. B) consumers. C) middlemen. D) free agents.
The two types of market structures that are imperfectly competitive are:
A. perfect competition and monopolistic competition. B. oligopoly and monopoly. C. monopoly and perfect competition. D. monopolistic competition and oligopoly.
Explain and give examples of invention. What does government do to protect it?
What will be an ideal response?