A statistical tool used to measure inequality is
A) the absolute poverty rate. B) the relative poverty rate.
C) the Lorenz curve. D) the Gini coefficient.
D
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Adverse selection occurs when a sales offer attracts the kinds of customers that the seller does not want
Indicate whether the statement is true or false
Which of the following statements is FALSE?
A) disposable income - saving = consumption B) consumption + saving = disposable income C) saving = disposable income - consumption D) consumption = saving - disposable income
Suppose the official gold value of the Brazilian real changes from 527 reals per ounce to 508 reals per ounce. We can then say that:
a. the Brazilian real has depreciated in value as a consequence of free market fluctuations. b. the Brazilian real has appreciated in value. c. gold is now more expensive to purchase in Brazil than it was before. d. the Brazilian real has been devalued. e. the Brazilian economy is expected to experience rapid inflation.
Which of the following will not happen as a consequence of a monopolistically competitive firm suffering economic losses in the short run?
A) The firm's demand curve will shift to the right if it stays in business in the long run. B) The firm will exit the industry if it continues to suffer economic losses. C) The firm will break even if its stays in business in the long run. D) In the long run, the firm will be able to charge a price that is greater than its average total cost.