A common measure of income distribution is the:
a. Bergson curve
b. Kornai Curve
c. Feldstein curve
d. The Hayek Curve
e. the Gini coefficient
E
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A low rate of expected inflation tends to lead to a ________ rate of actual inflation and a high rate of expected inflation tends to lead to a ________ rate of actual inflation.
A. low; high B. low; low C. high; low D. high; high
Refer to Figure 10.3. An increase in the real interest rate, with no other changes that affect aggregate expenditure, is best represented by ________ in panel (a) and ________ in panel (b)
A) a shift from AE2 to AE3; a shift from IS1 to IS2 B) a shift from AE3 to AE2; a shift from IS2 to IS1 C) a shift from AE2 to AE1; a movement from point B to point A D) a shift from AE3 to AE1; a movement from point C to point A
Because of their derived nature, resource markets are completely different from any other type of market studied by economists
a. True b. False Indicate whether the statement is true or false
If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock. B. long-run supply shock. C. long-run demand shock. D. short-run demand shock.