The Gini coefficient is measured by
A) summing up the total income earned by the population and dividing by the size of the population.
B) summing up the cumulative income percentages on the Lorenz curve.
C) using the formula: area between the line of perfect equality and the Lorenz curve ÷ the area under the line of perfect equality.
D) using the formula: area between perfect inequality and Lorenz curve ÷ area between the line of perfect equality to the Lorenz curve.
C
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Suppose that the technology used to manufacture laptops has improved. The likely result would be:
A. a decrease in quantity supplied of laptops. B. an increase in quantity supplied of laptops. C. a decrease in supply of laptops. D. an increase in supply of laptops.
Refer to the figure below where the nominal interest rate equals 6% and the money supply equals 600. If the Federal Reserve wants to lower the interest rate to 4%, it must ________ the money supply to ________. 
A. increase; 1,000 B. increase; 800 C. decrease; 800 D. decrease; 400
The above table gives data for the nation of Mouseville. There are no imports into or exports from Mouseville. Unplanned inventory changes equal $50 billion when real GDP equals
A) $800 billion. B) $900 billion. C) $500 billion. D) $300 billion. E) $700 billion.
The government has a budget surplus if
A) there is no national debt. B) tax revenue is greater than outlays. C) government outlays are greater than tax revenue. D) the budget is balanced. E) a fiscal stimulus is being used to combat a recession.