The way income is allocated among the population is called the
A) income curve.
B) income spread.
C) distribution of income.
D) Gini allocation.
Answer: C
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An expansionary monetary policy is most likely to increase real output
a. when the economy is operating at less than full-employment capacity. b. when the economy is at full employment. c. when actual output is beyond the economy's long-run capacity. d. when the inflationary side effects are fully anticipated by decision makers.
During the peak phase of a business cycle, a business could be expected to have
A. high prices. B. reduced sales. C. low profits. D. staff reductions.
An example of an inclusive union is
A. the American Federation of Teachers. B. the International Brotherhood of Teamsters. C. the American Medical Association. D. the Professional Air Traffic Controllers Organization.
Strategic decision making is most likely to occur in which market structure?
A. Oligopoly B. Monopolistic competition C. All firms engage in strategic decision making. D. Perfect competition