If the area between the line of equality and the Lorenz curve is 1,250, and the entire area beneath the line of equality is 5,000, the Gini ratio is
A) 0.25.
B) 4.00.
C) 0.33.
D) 0.80.
A
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Pat earns $25,000 per year (after taxes), and Pat's spouse, Chris, earns $35,000 (after taxes). They have two pre-school-aged children. Childcare for their children costs $12,000 per year. Given that Chris doesn't want to stay home with the kids, regardless of what Pat does, Pat should stay home with the kids if, and only if, the value of Pat spending more time with the kids is greater than:
A. $37,000 per year. B. $13,000 per year. C. $25,000 per year. D. $12,000 per year.
Answer the next question based on the following data. All figures are in billions of dollars.Government purchases$15Consumption90Gross investment20Consumption of fixed capital5Exports8Imports12This nation's GDP is ________.
A. $116 B. $125 C. $150 D. $121
What is the efficient quantity of snowboards in the above figure?
A) 0 B) 100 C) 200 D) 500
Which of the following is TRUE?
A) APC + MPS = 1 B) MPC + MPS = 1 C) 1 + APC = APS D) APC - APS = 1