The U.S. Lorenz curve today is closer to the perfect equality line than in 1929
a. True
b. False
Indicate whether the statement is true or false
True
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The purchase of a new house is included in
A) government purchases. B) investment expenditures. C) net exports. D) consumption expenditures.
The remarkable success of the HPAEs proves that
A) trade policy is the key to successful economic growth. B) trade policy is irrelevant to successful economic growth. C) high educational standards is the key to successful economic growth. D) dual economies must suffer economic stagnation. E) trade policy can lead to a higher standard of living for developing countries.
Which of the following is not a supply shifter?
A. Level of technology. B. Weather. C. Prices of inputs. D. Average income level.
Suppose that the government imposes an excise tax on widgets. The portion of the tax borne by the buyer of widgets depends upon
a. elasticity of demand. b. income of buyers. c. size of the tax that is imposed. d. cross elasticity of demand between widgets and floogles.