Prices serve as a key means of communication between buyers and sellers
Indicate whether the statement is true or false
TRUE
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The existence of unemployment can be illustrated on a production possibilities curve by a(n)
A. point below or inside the surface of the curve. B. inward shift of the curve. C. movement along the curve. D. outward shift of the curve.
Using the data in the above table, if income is on the x-axis and the amount spent on restaurant meals is on the y-axis, the graph of the two variables would be
A) upward sloping. B) downward sloping. C) vertical. D) horizontal.
Keynesian economics focuses on the role of aggregate spending in determining the level of real GDP
a. True b. False Indicate whether the statement is true or false
The ________ the Lorenz curve is from/to the line of perfect equality, the ________ is the Gini coefficient, and the ________ income equality exists.
A. closer; higher; less B. farther; higher; more C. farther; higher; less D. closer; lower; less