Higher values of the Gini coefficient are associated with
A. less labor mobility.
B. greater income inequality.
C. greater labor mobility.
D. greater education inequality.
E. less income inequality.
Answer: B
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What are net exports?
A. Exports minus imports B. Exports plus imports C. Imports minus exports D. That portion of consumption and investment goods sent to other countries
This Scenario addresses the economic concept of
A) financial intermediaries. B) deposit insurance. C) retained earnings. D) present value.
Government-created price floors are typically imposed to
a. help consumers b. help producers c. raise tax revenue d. shift the supply curve to the left e. shift the demand curve to the right
After the price of Revlon nail polish increased, Jen stopped buying Revlon nail polish and started buying a cheaper brand of nail polish instead. This is called:
A. the income effect of a price change. B. a decrease in the seller's reservation price. C. a decrease in the buyer's reservation price. D. the substitution effect of a price change.