The more bowed out the Lorenz curve is, the
A) more equal the distribution of income.
B) less equal the distribution of income.
C) richer the society.
D) poorer the society.
B
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When Joe's disposable income is $50,000, his consumption expenditure is $45,000, and when his disposable income is $60,000, his consumption expenditure is $53,000. Joe's marginal propensity to consume is
A) 100. B) 1.25 C) 80. D) 0.80. E) $8,000.
General equilibrium refers to
A. examining markets without specific information. B. finding equilibrium from general information. C. pricing goods at their shadow price. D. all of these answer options are correct. E. none of these answer options are correct.
A decrease in real GDP relative to the natural rate of output creates an expansionary gap
a. True b. False Indicate whether the statement is true or false
According to 2014 data on the U.S. population, which of the following groups of adults of prime working age (ages 25-54) had the lowest unemployment rate?
a. white males b. white females c. black males d. black females