As the area between the Lorenz curve and diagonal gets larger, the Gini ratio:
A. Rises to reflect greater equality
B. Rises to reflect greater inequality
C. Falls to reflect greater inequality
D. Falls to reflect greater equality
B. Rises to reflect greater inequality
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Holding everything else constant, government approval of horizontal mergers is more likely to be granted if the "market" that firms are in are broadly defined rather than narrowly defined
Indicate whether the statement is true or false
Nominal GDP is GDP in a given year
A) valued in the prices of that year. B) valued in the prices of the base year. C) adjusted for inflation. D) adjusted for anticipated inflation.
Firms in a high-wage nation such as the U.S. can compete effectively with imports from low-wage nations if
a. skill levels are identical in the nations b. the U.S. reduces tariffs on imports c. low-wage nations impose tariffs on U.S. made goods d. labor productivity is higher in the low-wage nation e. labor productivity is higher in the U.S.
Aggregate expenditure will not equal GDP unless
a. next exports are zero. b. transfer payments are zero. c. inventory investment is positive. d. inventory investment is zero. e. inventory investment is negative.