The Gini coefficient provides a measure of
a. the level of poverty.
b. the level of relative inequality.
c. disguised unemployment.
d. the rate of growth.
Answer: b. the level of relative inequality.
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If a monopolist is producing a rate of output at which market demand is inelastic,
a. it may or may not be maximizing its short-run profit b. reducing output would reduce both total revenue and total cost c. reducing output would increase both total revenue and total cost d. reducing output would increase total revenue and reduce total cost e. increasing output will increase its short-run economic profit
The equation specifying a direct relationship between the money supply and prices is the quantity theory of:
a. money. b. prices. c. exchange. d. spending. e. dollars.
An increase in the demand for rubles causes the ruble to appreciate
a. True b. False Indicate whether the statement is true or false
Wages in the United States are higher than those in India primarily because
a. the weather is better in the United States. b. a larger proportion of the labor force is unionized in the United States. c. less capital per employee is required in the United States. d. the human and physical capital of American workers exceeds that of their Indian counterparts.