Lorenz curves tell us about the
A. absolute distribution of income.
B. poverty line.
C. incidence of malnutrition.
D. relative distribution of income.
D. relative distribution of income.
You might also like to view...
If the proportion of GDP that people choose to hold in the form of money balances is 0.25, then a $100 increase in the money supply will lead to a rightward shift in the LM curve in the amount of
A) $400. B) $ 25. C) $ 75. D) $100.
Q: How many economists does it take to change a light bulb? A: All. Because then you will generate employment, more consumption, moving the aggregate demand curve to the right. This joke represents the view of
A) classical economists. B) Keynesian economists. C) economists who contend that money illusion never occurs. D) economists who conclude that wages and prices are very flexible.
Long-run producer surplus in a perfectly competitive industry accrues mainly to:
a. suppliers of inputs with inelastic supply curves. b. suppliers of inputs with elastic supply curves. c. firms' owners. d. marginal consumers.
Unit elastic demand occurs when
a. a one-unit increase in price leads to a one-unit decrease in quantity demanded b. a 1% increase in price leads to a one-unit decrease in quantity demanded c. price elasticity of demand is positive d. price elasticity of demand is exactly zero e. price elasticity of demand is exactly -1