When China embarked on market changes towards urbanization and manufacturing in 1978, urban disposable incomes were 2.6 times greater than rural net income. By 2008 they were 3.3 times bigger
Which of the following have the market changes sketched above have most likely NOT caused? A) Increased income inequality between rural and urban populations
B) A movement towards a bell-shaped distribution of income
C) An increased Gini ratio
D) The Lorenz curve for income to move further away to the line of equality
B
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The equilibrium level of employment, achieved after the complete adjustment of wages and prices, is known as the
A) zero-unemployment level of employment. B) natural state. C) invisible handshake. D) full-employment level of employment.
A Certificate of Deposit would be counted in which measure of money?
A. M1 B. M2 C. Hard money D. It would be counted in both M1 and M2
If both market demand and supply increase simultaneously by the same magnitudes, then equilibrium quantity will (be) ____ and equilibrium price will (be) ____
a. Not change; decrease b. increase; increase c. increase; not change d. None of the above are correct
Aggregation is the process of combining different things into a single category
a. True b. False