The Lorenz curve graphs the
A) cumulative percentage of spending against the cumulative percentage of households.
B) marginal percentage of income against the marginal percentage of households.
C) cumulative percentage of income against the cumulative percentage of households.
D) cumulative percentage of spending against the marginal percentage of households.
C
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GDP is a flow variable because
a. all macroeconomic aggregates are flow variables b. it measures the production that takes place over a period of time c. it measures the amount of goods and services that exist at the end of a time period d. the number of goods and services produced is usually a fixed number e. it accounts for the goods and services transferred from one firm to another
If American consumers decided to boycott grapes to protest working conditions of farm workers, everything else being equal, the: a. price of grapes will rise
b. supply of grapes will fall. c. quantity of grapes supplied will fall. d. demand curve for grapes shifts to the right.
The combined effect on the loanable funds market of a new technology that increases the marginal physical product of capital and a shift in consumers' expectation of future prices, now expecting they will be lower than they earlier expected, is a(n)
a. increase in the interest rate b. decrease in the interest rate c. decrease in the quantity demanded and quantity supplied of loanable funds but unclear in what direction the interest rate will change d. increase in the quantity demanded and quantity supplied of loanable funds but unclear in what direction the interest rate will change e. shift in the demand curve to the left and the supply curve of loanable funds to the right
For one person to be willing to lend money to another person, the interest rate must be high enough to compensate the lender for
A. the risk of deflation and bearing the risk of default. B. the opportunity cost of risk and the principal. C. the certainty of default and the certainty of inflation. D. the time value of money and bearing the risk of default.