One reason some economists are critical of the Lorenz curve is because
A) it reflects income before taxes.
B) it reflects income after taxes.
C) it reflects only the top bracket of taxpayers.
D) it reflects only the poor in the country.
A
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As the number of firms in an industry increases, the residual demand curve becomes
A) more elastic. B) less elastic. C) larger. D) vertical.
Few nations belong to both the World Trade Organization and regional trading agreements.
Select whether the statement is true or false. A. True B. False
Under what circumstances does inflation cause no harm to either lenders or borrowers?
a. When inflation equals 0. b. When inflation equals the historic mean. c. When inflation equals the inflation of the year before. d. When there is deflation. e. When the actual inflation rate equals the expected inflation rate.
Exchange rates in what is termed the “medium run”
A. will be altered by an economic upswing because consumers buy more goods including imports when disposable income goes up. B. will be unaffected by economic changes in personal income or consumption spending. C. will appreciate for a country having an economic boom when others are not. D. All of the above are correct.