The Lorenz curve and the Gini coefficient are similar in that both
a. are numerical measurements
b. illustrate dispersions of income throughout an economy
c. represent after tax incomes
d. are abstract models of the real world but there are no data allowing us to apply it to the real world
e. compare the levels of incomes earned in different countries
B
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Technological change that affects the marginal products of high-skilled and low-skilled workers differently is called ________ technological change.
A. marginal-productivity B. capital-labor C. high-low D. skill-biased
Why is the multiplier principle important?
What will be an ideal response?
Suppose a government official is trying to decide whether or not to allow more immigration. Which of the following is not an aspect of the economic way of thinking that would apply in this decision-making process
If the positive externalities associated with learning by doing are sufficiently great, production will be characterized by:
A. decreasing returns to scale. B. increasing returns to scale. C. diminishing marginal productivity. D. increasing marginal productivity.