Which of the following Lorenz curves is closest to the diagonal line?
A. The after-transfer income distribution
B. The after-tax income distribution
C. The before-tax distribution of income
D. The before-tax, before-transfer income distribution
Answer: A
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
The measurement of industry concentration which calculates the percentage of all sales contributed by a specific number of leading firms is called the
A) Herfindahl-Hirschman Index. B) concentration ratio. C) producer price index. D) P/E ratio.
Suppose a Middle Eastern firm moves its final assembly line to Germany and then ships the final products to other members of the EU trading bloc. This is an example of
A) trade diversion. B) trade deflection. C) trade restriction. D) trade detection.
Money that has value because the government has declared it legal tender to pay debts:
a. currency b. commodity money c. representative money d. fiat money