The distribution of money income can be represented graphically using
A) supply and demand diagrams.
B) a Lorenz curve.
C) a Keynesian curve.
D) a Distribution curve.
B
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A competitive firm's long-run supply curve is
a. horizontal at the firm's break-even price. b. steeper than its long-run marginal cost curve. c. identical to its long-run average cost curve. d. more elastic than its short-run supply curve.
Under a fixed exchange rate regime, if a central bank must intervene to purchase the domestic currency by selling foreign assets, then, like an open market sale, this action ________ the monetary base and the money supply, causing the interest rate
on domestic assets to ________. A) increases; rise B) increases; fall C) reduces; rise D) reduces; fall
An economist builds a model by beginning with certain self-evident principles and then derives the implications of that model. What approach is this economist taking?
A. Deductive B. Experimental C. Apophatic D. Inductive
The more the short-run output exceeds an economy's potential, _____
Fill in the blank(s) with the appropriate word(s).