The graph which represents the distribution of income in an economy is called the
A. aggregate demand curve.
B. Laffer curve.
C. distribution curve.
D. Lorenz curve.
Answer: D
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Describe how a demand-pull inflation can occur
What will be an ideal response?
A one-year Treasury bill that sells for $952.38 and has a face value of $1,000 has an annual yield of
A) 10 percent. B) 8 percent. C) 6 percent. D) 5 percent.
Ski resorts have begun to offer activities in the summer, like music festivals and mountain biking, rather than closing down the facilities for the season. This a good decision for a ski resort when
A. the extra revenue exceeds the variable costs of staying open during the summer. B. such activities draw an upscale set of customers. C. these activities reduce fixed costs. D. it provides employment for local residents.
When new firms enter a perfectly competitive market,
a. economic profits of existing firms will continue to be zero. b. entering firms will earn zero economic profit upon entry into the market. c. existing firms may see their costs rise if more firms compete for limited resources. d. prices will rise as existing firms raise prices to keep new firms out of the market.