The more bowed out the Lorenz curve, the
A. more equal the income distribution.
B. less the overall wealth in the economy.
C. less equal the income distribution.
D. greater the overall wealth in the economy.
Answer: C
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Willingness to accept is:
A) always lower than the marginal cost of production. B) always higher than the marginal cost of production. C) the lowest price that a producer is willing to receive to sell an extra unit of a good. D) the highest price that a producer is willing to receive to sell an extra unit of a good.
Beginning from a position of long-run equilibrium at the full-employment level of real GDP, the economy's short-run response to a decrease in the aggregate demand curve would be a: a. movement upward along the short-run aggregate supply curve
b. movement upward along the long-run aggregate supply curve. c. downward shift in the short-run aggregate supply curve. d. movement downward along the short-run aggregate supply curve.
What happens to domestic investment as the real interest rate rises? Explain your answer
If the number employed is 190 million, the working-age population is 230 million, and the number unemployed is 10 million, then the unemployment rate is
A) 5%. B) 5.2%. C) 8%. D) 10%. E) 50%.