Typically, a country's population is divided into how many income groups to find a Lorenz Curve?
a. 1 or 2.
b. 5 or 10.
c. 10 or 20.
d. 25 or 50.
e. 100.
b
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If August futures for a commodity are currently trading at $9.30/bu, and you expect the basis in July to be $0.25/bu under the August futures, then you expect the July cash price to be:
A. $9.05/bushel under August B. $9.55/bushel over August C. $9.05/bushel D. $9.55/bushel
Which of the following is a TRUE statement?
A. The most important source of economic growth is the extent to which the government directly enters into decisions where research and development activities should be directed and who should be involved in research and development activity. B. The most important sources of economic growth are the quantity and quality of the land and other natural resources a country controls. C. The most important source of economic growth is the rate of population growth since a growing population stimulates demand for goods and services, and provides the labor to produce the goods and services. D. The most important sources of economic growth are the new ideas generated by entrepreneurs in an economic system that permits them to capture the rewards of their entrepreneurial activities.
The vertical distance between the horizontal axis and any point on a perfect competitor's demand curve measures
A. product price, marginal revenue, and average revenue. B. supply curve for the product. C. total cost. D. total revenues.
Roughly what percentage of money income was earned by the lowest 20% of income earners in the U.S. in 2010?
A) 0.8% B) 3.8% C) 6.8% D) 9.8%