In the figure above, if income were distributed equally across all households, the poorest 10 percent of households would receive ________ of total income
A) 5 percent
B) 10 percent
C) 15 percent
D) 20 percent
B
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Gross domestic product is a measure of
A. the size of the largest industry in an economy. B. the money value of all final goods and services produced in a year by the economy. C. the volume of goods and services, which involved in international trade. D. the goods and services produced strictly by corporations. E. the nonmarket production of goods and services.
If the population is 300 million, with 70 million under the age of 16 and institutionalized, another 70 million not in the labor force, 10 million unemployed and 150 million employed, the unemployment rate is
A) 23.3 percent. B) 6.7 percent. C) 6.25 percent. D) 26.7 percent.
A country that has had success with export-led growth policy is:
A. North Korea. B. South Korea. C. Russia. D. Liberia.
Because suppliers can more readily adjust their output in the long run than in the short run, we expect price elasticity of supply to be
a. negative in the long run and positive in the short run b. positive in the long run and negative in the short run c. greater than one in the short run and less than one in the long run d. higher in the long run than in the short run e. higher in the short run than in the long run