The Lorenz curve portrays:
A. the functional distribution of income.
B. the ratio of labor to capitalist income.
C. the personal distribution of income.
D. income equality.
Answer: C
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The figure below shows the supply and demand curves for jeans in Smallville. 
The equilibrium price will NOT lead to the largest possible total economic surplus if:
A. there are diminishing returns in the production of jeans. B. jeans are purchased by consumers with reservation prices greater than $40. C. the production of jeans generates air pollution. D. the market for jeans is perfectly competitive.
Suppose there are currently 100 people unemployed, 1500 people employed, 1600 people in the labor force, and 2000 people in the working age population. The unemployment rate equals 100 times
A) 100/1500. B) 100/1600. C) 100/2000. D) 1500/2000.
The EU's antitrust chief in November 2008 fined car glass producers Asahi, Pilkington, Saint-Gobain and Soliver more than 1.3 billion euros ($1.66 billion) for price-fixing, the largest sum ever levied by the EU for a cartel
Price fixing is a violation of ________. A) price fixing legislation B) antitrust law C) Federal Trade Commission D) Division of the U.S. Department of Justice
You borrow $10,000 from a bank for one year at a nominal interest rate of 5%. If inflation over the year is 2%, what is the real interest rate you are paying?
A) 2% B) 2.5% C) 3% D) 5%