A numerical measure of income distribution is
A. the Lorenz Index.
B. the Misery Index.
C. the Gini coefficient.
D. Gross Domestic Product (GDP).
Answer: C
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The effect that an additional user of a good or participant in an activity has on the value of that good or activity for others is called:
A. negative externality. B. network externality. C. social externality. D. private externality.
If the amount of time spent procrastinating and the performance on an exam are inversely related, then
A. more procrastination leads to lower exam grades.
B. more procrastination leads to higher exam grades.
C. a graph with this relationship would be positively sloped.
D. the slope of the line reflecting this relationship will be 0.
A domestic spending shock is likely to be least disruptive under a
A. fixed exchange-rate system when there is high capital mobility. B. floating exchange-rate system when there is low capital mobility. C. fixed exchange-rate system without sterilization. D. floating exchange-rate system when there is high capital mobility.
In 1973 the Russian wheat crop failed and the Soviet Union made massive purchases of American wheat. Which statement is a result of this action?
A. The demand for farm labor and farmland was driven down in the United States. B. There was no effect on the demand for farm labor and farmland in the United States. C. The demand for farm labor and farmland was driven up in the United States. D. None of these statements are true.