The distribution of income in one nation can be illustrated by the
A. aggregate demand curve.
B. Lorenz curve.
C. Phillips curve.
D. Laffer curve.
Answer: B
You might also like to view...
A neighbor slips on an icy sidewalk in front of your house, resulting in $500 of medical bills. The court rules that the accident had a 20% chance of occurring. Under a negligence standard, you will be held liable for damages if removing the ice from the sidewalk would have cost you less than
a. $20. b. $100. c. $500. d. $1,000.
One way the government can boost the economy out of a recession is:
A. with public announcements telling the public to save their money. B. by increasing government spending. C. by setting price ceilings on most goods so people can afford them. D. None of these will help an economy in recession.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point E to Point B. This could be explained by
A. a change in society's preferences for hybrid cars versus motorcycles. B. an increase in economic growth. C. an increase in unemployment. D. a reduction in unemployment.
Refer to the table above. If planned investment is $25 billion, the equilibrium level of GDP will be:
The data below are for a private (no government) closed economy. All figures are in billions of dollars.
A. $600 billion
B. $620 billion
C. $640 billion
D. $660 billion