Even though Mexico is a developing country, the NAFTA market is very rich
Indicate whether the statement is true or false
TRUE
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Which of the following summarizes the information provided by a Lorenz curve?
A) the Gini coefficient B) the slope (the rise divided by the run) of the Lorenz curve at a particular point on the curve C) the income distribution ratio D) the Lorenz coefficient
Inflation refers to an increase in the
a. price level. b. rate of inflation. c. total income. d. real GDP.
How does a competitive market compare to a monopoly that engages in perfect price discrimination?
a. In both cases, total social welfare is the same. b. Total social welfare is higher in the competitive market than with the perfectly price discriminating monopoly. c. In both cases, some potentially mutually beneficial trades do not occur. d. Consumer surplus is the same in both cases.
Which of the following results from having scarce economic resources?
a. The production of unlimited goods and services b. The production of limited goods and services c. Deflation d. Poverty and unequal distribution of wealth