For the United States, Lorenz curves show that
A) income is more equally distributed than wealth.
B) income is less equally distributed than wealth.
C) incomes have increased over time.
D) blacks and Hispanics became better off in the 1990s.
A
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As opposed to general-equilibrium analysis, partial equilibrium analysis looks
A) at an equilibrium and changes to it in a single, isolated market. B) at how changes in one market effect other markets. C) at how equilibrium is determined in all markets simultaneously. D) at either price or quantity movements.
Assume the average salary for a college philosophy professor is $50,000 . Suppose businesses decide they need in-house instructors to teach ethics to employees, and they begin hiring philosophy professors at a salary of $75,000 . What are the short-term and long-term effects of this supposition?
Political freedoms is one of the measures used by the Human Development Index (HDI) to measure the quality of human life in different nations.
a. true b. false
The income approach to calculating GDP:
A. will generate the same answer as using the expenditure approach. B. is less accurate than using the expenditure approach. C. is more accurate than using the expenditure approach. D. is simpler to calculate than the expenditure approach.