The idea that the Lorenz curve should be along the 45 degree line is consistent with
A. the conservative principle.
B. the productivity standard.
C. the egalitarian principle.
D. none of these.
Answer: C
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Suppose that Rosa is considering migration to another country. To move, she will have to spend $5000 on transportation and $4000 in application and other processing fees. Rosa's stream of future earnings in her home country is $500,000. She expects to earn a stream of future earnings of $800,000 in another country. Based on this information, Rosa's explicit cost of migrating is:
A. $9,000 B. $500,000 C. $507,000 D. $5,000
Historically, the largest U.S. federal budget deficits as a percentage of GDP in the 20th century occurred during
A) the Great Depression. B) the Vietnam war. C) World War I and World War II. D) 1970-1997. E) 1998-1999.
The aims of mercantilists do not include
a. achieving power and wealth for the state. b. achieving political and economic unity. c. keeping artisans in the home country. d. All of the above were aims of the mercantilists.
As a result of an expansionary monetary policy:
a. both aggregate expenditure and aggregate demand increase b. both aggregate expenditure and aggregate demand decrease. c. aggregate expenditure increases and aggregate demand decreases. d. aggregate expenditure decreases and aggregate demand increases. e. aggregate expenditure remains unchanged; aggregate demand increases.