The aggregate demand curve is all of the equilibrium combinations of
A) the IS curve and the MP curve.
B) the output gap and the price level.
C) the price level and the real interest rate.
D) the real interest rate and the output gap.
B
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Growing technology has provided increased opportunities for higher-skilled workers
Indicate whether the statement is true or false
In order to maximize profits, firms organize their production using
A) only a command system. B) only an incentive system. C) a combination of command and incentive systems. D) neither a command nor an incentive system.
As a tool that is used to measure inequality in the distribution of income, the Lorenz curve graphs
A) the cumulative percentage of income against the cumulative percentage of households. B) the percentage of total income received by each given percentage of households. C) the mean income, median income, and mode income against the percentage of households. D) the mean income received by households over time.
The data show that the American national income grew fast enough—even when immigration rates are taken into account—to produce rising income per capita between 1860 and 1910
Indicate whether the statement is true or false