Based on the graph for the Gini Coefficient, a point where the x and y coefficients are equal would represent ______.
a. total income inequality
b. perfect income equality
c. moderate income inequality
d. moderate income equality
b. perfect income equality
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Which of the following statements about economists' assessment of protectionism is true?
A) The costs and benefits of trade barriers are essentially equal. B) The benefits of trade restrictions exceed their cost. C) The costs of trade barriers exceed their benefits and generally result in inefficiency. D) It is not possible to estimate the costs of protection.
What brought about the end of the Bretton Woods Agreement?
What will be an ideal response?
If the required reserve ratio is 25 percent, the simple deposit multiplier is
A) 5.0. B) 2.5. C) 4.0. D) 10.0.
Consumers spend a lot more time searching for good bargains during recessions because:
A. goods are more expensive during recessions and hence expected benefits of a search are higher and in recessions, many individuals are out of work, which lowers their opportunity cost of time. B. in recessions, many individuals are out of work, which lowers their opportunity cost of time. C. goods are more expensive during recessions and hence expected benefits of a search are higher. D. None of the statements is correct.