The Lorenz curve is criticized for all of the following EXCEPT
A) that it excludes transfers-in-kind income.
B) that it does not account for the size differences of households.
C) that it does not account for age differences of households.
D) that it does not account for the impact of trade on the standard of living.
D
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An increase in the reserve requirement would:
A) decrease excess reserves and reflect an expansionary monetary policy. B) decrease excess reserves and reflect a contractionary monetary policy. C) increase excess reserves and reflect an expansionary monetary policy. D) increase excess reserves and reflect a contractionary monetary policy.
The nominal exchange rate is 90 Pakistani rupees per dollar. The price of a shirt in Pakistan is 1800 rupees. The same shirt sells for $25 in the U.S. A. What is the real exchange rate? Show your work. B. Can arbitragers make a profit? C. If your answer to C is yes, where would they buy and where would they sell?
Figure 14.1 shows three aggregate demand curves. A shift rom curve AD0 to curve AD1 could be caused by a(n):
A. decrease in the money supply. B. decrease in taxes. C. decrease in the price level. D. decrease in government spending.
The vertical intercept of the Security Market Line is determined by the:
A. beta of the market portfolio. B. discount rate. C. risk-free interest rate. D. risk premium.