Economists can illustrate an uneven distribution of income by sketching a Lorenz curve that lies above the diagonal
a. True
b. False
Indicate whether the statement is true or false
False
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The most important goal of the firm is to
A) maximize its revenues. B) maximize its sales volume. C) maximize its profits. D) minimize its costs.
The four-firm concentration ratio equals the percentage of the value of ________ accounted for by the four ________ firms in the industry
A) sales; smallest B) profits; smallest C) sales; largest D) profits; largest
Demand-pull inflation is associated with:
a. decreasing total spending (demand). b. increasing total spending (demand). c. decreasing costs of production (supply). d. increasing costs of production (supply).
The unemployment rate:
a. Always falls when the employment rate rises. b. Always rises when the employment rate rises. c. Is considered to be a poorer measure of business cycle activity than the employment rate. d. Tends to be more stable than the employment rate. e. None of the above.