The Lorenz curve shows the percentage of total income received by a given percentage of recipients whose incomes are arrayed from largest to smallest
Indicate whether the statement is true or false
false
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Where does profit enter in the circular flow? Why?
What will be an ideal response?
According to Keynes, planned consumption
A) decreases as disposable income increases. B) is positively related to real disposable income. C) is unstable and fluctuates widely with changes in disposable income. D) is indirectly related to the interest rate.
Which of the following is not a public good?
a. a coastal lighthouse b. national defense c. a flood-control levee d. the latest Walt Disney movie
Ceteris paribus, which of the following causes demand to be more elastic with respect to price?
A. Shorter periods of time to adjust to a change in price. B. Fewer substitutes. C. A high ratio of price to income. D. A steeper demand curve for a given price and quantity.