Regulation of industry is usually carried out by special government agencies that administer and interpret the law.
Answer the following statement true (T) or false (F)
True
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The Gini coefficient is measured by
A) summing up the total income earned by the population and dividing by the size of the population. B) summing up the cumulative income percentages on the Lorenz curve. C) using the formula: area between the line of perfect equality and the Lorenz curve ÷ the area under the line of perfect equality. D) using the formula: area between perfect inequality and Lorenz curve ÷ area between the line of perfect equality to the Lorenz curve.
The amount the government budget deficit would be if the economy were at full employment is known as the
A) primary deficit. B) full-employment deficit. C) natural deficit. D) current deficit.
Employers and workers in the protected industry know that the consequences of protection are principally:
a. lower prices for their output, lower profits for owners, and lower wages for workers. b. higher prices for their output, lower profits for owners, and lower wages for workers. c. higher prices for their output, lower profits for owners, and higher wages for workers. d. lower prices for their output, higher profits for owners, and higher wages for workers. e. higher prices for their output, higher profits for owners, and higher wages for workers.
The Age of the great industrial capitalist was
A. the first quarter of the 19th century. B. the second quarter of the 19th century. C. the third quarter of the 19th century. D. the fourth quarter of the 19th century.