"If the distribution of income was equal, the Lorenz curve would be a straight, 45° line." Is the previous statement or in?
What will be an ideal response?
The statement is correct.
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During the Great Depression, real GDP decreased, unemployment soared, and the inflation rate was negative. Which would have been the appropriate federal government policy combination to improve economic performance?
A) increase government expenditure, decrease taxes, increase the quantity of money B) increase government expenditure, decrease taxes, decrease the quantity of money C) decrease government expenditure, increase taxes, decrease the quantity of money D) do not change government expenditures or taxes , increase the quantity of money E) decrease government expenditures, increase taxes, do not change the quantity of money
If production of a good creates beneficial externalities, a perfectly competitive market will produce
a. less output than would maximize profit. b. more output than would maximize profit. c. less output than is socially efficient. d. more output than is socially efficient.
Other things the same, as the price level rises, the real value of money
a. and the exchange rate rise. b. and the exchange rate fall. c. rises and the exchange rate falls. d. falls and the exchange rate rises.
When a consumer must take some sort of additional action to receive a lower price, the consumer is being subjected to:
A. the "hurdle" method of price discrimination. B. the "rebate and wait" method of price discrimination. C. perfect price discrimination. D. "bait and switch" sales tactics.