The proportion of total income received by a particular group is called the group's
A. Income share.
B. Gini coefficient.
C. Functional distribution of income.
D. Market share.
Answer: A
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The Phillips curve is thought to reflect the relationship between
A) unemployment and inflation. B) the price level and inflation. C) unemployment and real GDP. D) inflation and real GDP.
A sign that the Federal Reserve is moving to lower interest rates would be
A) a reduction in bank reserves. B) an increase in margin requirements. C) a widening gap between the Treasury bill yield and the discount rate. D) a narrowing gap between the Treasury bill yield and the discount rate.
Increased production, but not increased inflation, will result in higher:
a. nominal GDP. b. money GDP. c. real GDP. d. current dollar GDP.
The maximum possible profit that could be earned by a cartel is: a. greater than the monopoly profit
b. equal to the monopoly profit. c. less than the monopoly profit. d. unrelated to the level of monopoly profit.