Any international transfer made on concessional terms for the purposes of promoting economic development is
a. foreign aid
b. first aid
c. immigration
d. private investment
e. remittances
A
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Price ceilings generally do not lead to which of the following?
A. Persistent shortages B. A reduction in the quality of the good C. An increase in the number of units purchased D. The development of black markets
If everyone had the same income, then the Lorenz curve would:
a. be the line of income equality. b. bow down below the line of income equality. c. be a parallel line lying below the line of income equality. d. bow up above the line of income equality. e. be a curve that intersects the line of income equality at its mid-point.
Of the theories listed below, which do the best job of explaining why educated people are paid more than uneducated people?
a. human-capital and price-fixing b. human-capital and signaling c. wage-differential and signaling d. wage-differential and compensating-differentials
The market demand curve shows the total quantity demanded per period by all consumers at various prices
Indicate whether the statement is true or false