What does the Lorenz Curve illustrate about the economy?
(A) The kinds of jobs.
(B) The distribution of income.
(C) The causes of poverty.
(D) The types of families.
Ans: (B) The distribution of income.
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Which of the following decisions cannot be taken by a firm in a perfectly competitive market?
A. Market exit decision B. Market price of the product C. Quantity of output it can produce D. Entering a market
Newly constructed homes are classified as
a. private consumption b. housing services c. housing supply d. investment e. construction.
What is the link between purchasing power parity, inflation and the exchange rate?
What will be an ideal response?
A study concludes that in DVCs rising incomes must first be achieved and only then will there be slower population growth. What view of DVC population growth would it be supporting?
A. Traditional view B. Peasant agriculture view C. The will-to-develop view D. Demographic transition view