Lorenz curves tell us about the
A. absolute distribution of income.
B. poverty line.
C. incidence of malnutrition.
D. relative distribution of income.
D. relative distribution of income.
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The steeper the short-run aggregate supply curve, _____
a. the steeper the aggregate demand curve b. the larger the value of the spending multiplier c. the larger the budget surplus d. the larger the impact of a shift in aggregate demand on the equilibrium price level e. the larger the impact of a shift in aggregate demand on the equilibrium output level
A single-price monopolist is
a. able to use price discrimination to increase profits b. protected from competition by patents and copyright laws c. one that charges the same price for all units of output d. illegal in the United States e. less efficient than a multi-price monopoly
Assume the legal reserve ratio is 25 percent and the Fourth National Bank borrows $10,000 from the Federal Reserve Bank in its district. As a result:
A. commercial bank reserves are increased by $10,000. B. the supply of money automatically declines by $7,500. C. commercial bank reserves are increased by $7,500. D. the supply of money is automatically increased by $10,000.
Homebuilders will often pay the closing costs (title, insurance, etc.) of prospective homebuyers? Explain in terms of supply and demand what homebuilders are trying to do with this practice
What will be an ideal response?