If the Gini coefficient for the United States is 0.47 and that for India is 0.36, which of the following statements is true?
a. The U.S. being an industrialized nation has a lower income inequality than India.
b. The Lorenz curve for the U.S. lies above the Lorenz curve for India.
c. India, in spite of being a developing nation, has lesser income inequality than the U.S.
d. The Lorenz curve for India would coincide with the line of perfect equality.
e. The distribution of income in both the economies are equal.
c
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China's growth rate has ________ that of most other countries, ________
A) topped; but its real GDP per person is still lower than other industrialized countries B) lagged behind; and its real GDP is close to other Asian economies C) lagged behind; but its real GDP per person is higher than other Asian economies D) topped: but its real GDP per person declined in 2008-09 E) equaled; and its real GDP per person declined in 2008-09
For decades, the NCAA restricted the number of college football and basketball games that could be televised, and in 1982 the University of Georgia and the University of Oklahoma sued the NCAA under the federal antitrust laws
In 1984, the Supreme Court decided the case A) against the NCAA, citing anticompetitive practice. B) against the NCAA, citing that the NCAA did not control what television networks put on the air. C) for the NCAA, citing the fact that belonging to the NCAA was voluntary. D) against the NCAA, citing explicit collusion among the larger colleges.
One of the important points of criticism of industrial policy is that: a. it can lead to stiff competition among the domestic firms in an economy. b. small domestic firms will not be able to survive economic clustering
c. government sponsored research will end up benefitting foreign countries. d. it can prohibit regional innovations. e. the knowhow in one firm will not spill over to other firms in an economy.
When marginal cost is increasing, average total cost must be increasing
a. True b. False Indicate whether the statement is true or false