Most countries in the world have Gini coefficients ranging from:
A. 0.30 to 0.40.
B. 0.25 to 0.60.
C. 0.20 to 0.85.
D. 0.10 to 0.50.
Answer: B
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In a small country, using prices of 2012, GDP in 2012 was $100 and GDP in 2013 was $110. Using prices of 2013, GDP in 2012 was $200 and GDP in 2013 was $210
The country's BEA will calculate ________ percent as the growth in real GDP between those years. A) 7.5 B) 15 C) 10 D) 5 E) None of the above answers is correct.
If firms in a perfectly competitive industry are earning positive economic profits, then what will happen in the long run?
What will be an ideal response?
Suppose electricity (E) can be produced with coal (C) or gas (G) to operate steam turbines (T). Suppose gas is more efficiently burned than coal but that they are otherwise perfect substitutes. E = min((G + .5C), T). The isoquants between gas and coal will be
a. hyperbolas b. quarter circles c. straight lines
The existence of an inflationary gap would tend to benefit most
A. bankers. B. retired persons. C. unemployed workers. D. stock owners.