A curve that shows the wealth distribution for the United States would be:
A. above the Lorenz curve for income.
B. below the Lorenz curve for income.
C. above the diagonal line.
D. equal to the Lorenz curve for income.
Answer: B
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Using the Rule of 70, if the country of Huttodom's current growth rate of real GDP per person was 10 percent a year, how long would it take the country's real GDP per person to double?
A) 0.7 years B) 20 years C) 7 years D) 10 years
If foreign holdings of U.S. dollars decrease, holding all else constant,
A) the balance on the U.S. current account will decrease. B) the U.S. balance of trade will decrease. C) the balance on the U.S. financial account will decrease. D) the balance on the U.S. capital account will decrease.
There is a significant positive relationship between ________ and __________
a. natural resource commodity exports, high levels of per capita GDP b. investment in capital, high levels of per capita GDP c. high levels of illiteracy, high levels of per capita GDP d. limited government recognition of land tenure and property ownership, high levels of per capita GDP
The laws of contracts and their enforceability in court determine the range of transactions that we will find it worthwhile to undertake
Indicate whether the statement is true or false