A graph that shows the percentage of the families on one axis and the percentage of income on the other is called the:
a. Budget-distribution curve.
b. Income-consumption curve.
c. Lorenz curve.
d. Marx curve.
c
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Using the GG-LL framework, analyze the effect of an increase in the size and frequency of sudden shifts in the demand for a country's exports
What will be an ideal response?
How does asymmetric information affect market outcomes?
The natural rate of unemployment
a. is a temporary low rate that cannot be maintained. b. is fixed; it cannot be altered by public policy. c. is equal to the number of persons unemployed divided by the number in the labor force. d. is the unemployment rate accompanying the economy's maximum sustainable rate of output.
The opportunity cost of something is what you give up to get it
a. True b. False Indicate whether the statement is true or false