If a Lorenz curve for income moves rightward and becomes more bowed out over time, then
A) the population is growing.
B) income is growing.
C) income is being more equally distributed.
D) income is being more unequally distributed.
D
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Would the services supplied by prostitutes and brothels be included in calculating GDP in the United States?
A) Yes, because those are final services. B) Yes, but only in those states where brothels are legal. C) No, because those services are immoral. D) No, because those are not truly economic services.
Goldin (2001) refers to the 20th century as the "human capital" century and credits education for the rise in overall income
Indicate whether the statement is true or false
If consumer purchases of a good are highly sensitive to the price of the good, this is illustrated by a
a. demand curve that is relatively flat (more horizontal). b. demand curve that is relatively steep (more vertical). c. supply curve that is relatively flat (more horizontal). d. supply curve that is relatively steep (more vertical).
Since the end of World War II,
A) world trade has grown more slowly than world GDP in the same time period. B) world trade has grown more slowly than during the years leading up to World War II. C) the trade-to-GDP ratios of most countries have fallen. D) world trade has grown more rapidly than world output.