What fraction of the world's population lives on no more than $2 a day?
A. 1/10
B. 1/4
C. 1/2
D. 3/4
C. 1/2
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Why is the equilibrium in a trust game socially inefficient?
What will be an ideal response?
A divisive society is one in which members of society work together for the common good.
Answer the following statement true (T) or false (F)
Within the Keynesian aggregate expenditures model, if the economy is below equilibrium, then there will be:
a. an increase the demand for goods and services. b. an increase in real GDP. c. lower interest rates, which will stimulate aggregate demand and keep the economy at full employment. d. a lower price level, which will quickly guide the economy to full-employment equilibrium.
If a greater portion of income is distributed to those in the highest income quintile, the
A. Gini coefficient is less than zero. B. Lorenz curve sags below the diagonal line of absolute equality. C. Lorenz curve is a straight line. D. Line of equality sags below the Lorenz curve.