A perfectly straight Lorenz curve would mean:
A. perfect inequality, and it does not exist in the real world.
B. perfect equality, and it does not exist in the real world.
C. perfect equality, and is more common among the wealthy, developed nations.
D. perfect inequality, and is more common among the developing nations.
B. perfect equality, and it does not exist in the real world.
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The aggregate demand curve shows the combinations of output and the price level that put the economy on
A) the FE line and the IS curve. B) the FE line, the IS curve, and the LM curve. C) the IS curve. D) the IS curve and the LM curve.
One of the sources of cyclical unemployment is the downward rigidity of wages
a. True b. False Indicate whether the statement is true or false
Impulse control problems can arise when people:
A. discount the future too little. B. place too much weight on future costs and benefits. C. place too little weight on current costs and benefits. D. discount the future too heavily.
Deliberate manipulation of government spending and taxes to promote macroeconomic goals is known as _____
Fill in the blank(s) with the appropriate word(s).