Which of the following would be classified as private investment?
a. An individual's purchase of a used car
b. A family's purchase of groceries
c. An individual's purchase of a General Electric bond
d. A family's purchase of a newly built home
e. A family's purchase of a new car
D
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The ______ the Lorenz curve is from/to the line of perfect equality, the _____ is the Gini coefficient, and the __________ income equality exists.
A. farther; higher; less B. farther; higher; more C. closer; higher; less D. closer; lower; less
If a firm was able to acquire control over access to bauxite, the ore used in aluminum manufacturing, it would gain monopoly control of the aluminum industry because that firm
A. holds a patent. B. is given the right to control the market by government. C. controls an essential input. D. is a natural monopoly.
The objective of bank management is to
a. maximize stockholders' profits by making risky investments and giving loans to borrowers who will pay the highest interest rates. b. refuse to make risky loans and make loans only to the safest borrowers. c. invest in U.S. government securities and make loans only to established businesses. d. strike the appropriate balance between the attraction of bank profits and the need for bank safety.
In a competitive market characterized by increasing costs, the
A. long-run industry supply curve gives the long-run marginal cost of production at various levels of industry output. B. long-run industry supply curve is upward sloping. C. long-run industry supply curve gives the minimum long-run average cost of production at various levels of industry output. D. both a and b E. all of the above