The ________ is a commonly used measure of the degree of inequality in an income distribution.
A. utility possibility frontier
B. Gini coefficient
C. Herfindahl-Hirschman index
D. Lorenz curve
Answer: B
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Which would be considered to be one of the factors that shift the aggregate supply curve in the short run? A change in ________.
A. net exports B. personal income taxes C. government regulation D. consumer spending
A major contribution of the Solow model is its ________
A) insight into what distinguishes rich economies from poor economies B) explanation of why productivity grows over time C) demonstration that the key to sustained growth is a high level of saving D) encouragement of policies to limit population growth
Refer to Table 8.1. That the firm is perfectly competitive is evident from its
A) increasing marginal cost. B) increasing total cost. C) zero economic profits. D) constant marginal revenue. E) absence of marginal values at Q = 0.
For a given market demand curve, if the market clearing price increases, then the amount of consumer surplus will
A. decrease. B. become negative. C. increase. D. None of these due to insufficient information.