The single best indicator of the degree of economic inequality in a country is the
a. top/bottom ratio
b. Gini coefficient
c. poverty rate
d. Kuznets curve
e. bell curve
B
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If Table 12.2 represents all the investments available to the economy, the nominal interest rate is 2.5 percent and there is no inflation, what will be the level of investment in the economy?
A) $0 B) $200 C) $600 D) $900
The diamond-water paradox of value can be explained by
A) distinguishing between total utility and marginal utility. B) water's high level of utility relative to diamonds. C) water's low price relative to diamonds. D) the fact that utility cannot be measured.
A citizen in a developing country with a currency policy of convertibility on the current account could engage in all of the following transactions except:
A. sell foreign currency resulting from the exports of manufactured t-shirts. B. sell foreign currency resulting from the sale of a U.S. treasury bond. C. purchase foreign currency in order to import a BMW. D. purchase foreign currency in order to purchase a U.S. treasury bond.
Which of the following types of unemployment is likely to exist in an economy that is at its potential output level?
What will be an ideal response?