The above figure displays
A) income-inequality curves.
B) Gini Coefficients.
C) Lorenz curves.
D) Laffer curves.
C
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At the point where actual inflation is equal to expected inflation
A) the unemployment rate is zero. B) there is no short-run Phillips curve, as this situation only occurs in the long run. C) the short-run Phillips curve intersects the long-run Phillips curve. D) the short-run Phillips curve is the same as the long-run Phillips curve.
Which of the following does NOT indicate intraindustry trade?
A) Trading Jeeps for Toyotas B) Trading Boeing airplanes for Airbus airplanes C) Trading Bush beer for Heineken beer D) Trading Japanese-made films for Hollywood-made films E) Trading oil for trucks
Age is a determinant of income because
A) with age typically come experience, education, and training that can increase income. B) age contributes to costs as medical expenses increase. C) older workers have accumulated more wealth. D) older workers have accumulated less wealth.
Refer to the above figure. Suppose the marginal benefit and the marginal cost curves of pollution abatement are normally shaped. Technological change that made it easier to produce in a "cleaner" fashion would cause
A) curve (4 ) to shift out, increasing the optimal amount of pollution abatement. B) curve (3 ) to shift up, raising the marginal benefits and costs and reducing the amount of pollution abatement. C) curve (2 ) to shift out, increasing the optimal amount of pollution abatement. D) curve (1 ) to shift out, increasing the optimal amount of pollution abatement.