The less bowed the Lorenz Curve, the
A) more equal the income distribution.
B) less equal the income distribution.
C) greater the number of low-income people.
D) greater the number of high-income people.
Answer: A
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Which of the following is NOT a requirement in selecting a policy instrument?
A) measurability B) controllability C) flexibility D) predictability
The largest component of GDP is
a. tax revenue b. government purchases of goods and services c. the nation's capital stock d. private investment spending e. private consumption expenditures
________ is a market structure in which a large number of firms compete vigorously with each other in producing and selling different varieties of a basic product.
A. Monopolistic competition B. Perfect competition C. Monopoly D. Oligopoly
GDP in an economy is $4600 billion. Consumer expenditures are $3500 billion, government purchases are $900 billion, and gross private domestic investment is $400 billion. Net exports are:
A. -$400 billion. B. +$200 billion C. +$400 billion. D. -$200 billion.