One of the main tools used by economists to measure the actual distribution of income is the:
a. Lorenz curve.
b. Golden Rule.
c. MR = MC rule.
d. MRP = MRC rule.
a
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From 1970 to 2010, the poverty rate in East Asia rose slightly but the level of poverty in sub-Saharan Africa fell dramatically
Indicate whether the statement is true or false
If the CPI is currently 202, what does this tell you about inflation between last year and this year?
A) Inflation in the economy between this year and last year was 2%. B) There was deflation in the economy between this year and last year. C) The CPI measures only the level of prices in a given year, not the percentage change in prices from one year to the next. D) Inflation in the economy between this year and last year was 102%.
The New Deal reduced
(a) government involvement in private affairs. (b) individual liberty. (c) taxes. (d) rent-seeking.
Anything that prevents new firms from competing on an equal basis with existing firms in an industry is called a barrier to entry
a. True b. False