Refer to the diagram where curves (a) through (e) are for five different countries. Of the countries listed below, income is most unequally distributed in country:





A.  a.

B.  b.

C.  c.

D.  d.


D.  d.

Economics

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The Great Depression of the 1930s, with a large number of workers and factories unemployed, would be represented in a production possibilities frontier graph by

A) a point outside the frontier. B) an intercept on either the vertical or the horizontal axis. C) a point inside the frontier. D) a point on the frontier.

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The greater the elasticity of demand of a taxed item, the greater the tax revenue received

a. True b. False Indicate whether the statement is true or false

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The buying of a currency by a government to maintain its value above its long-run equilibrium is called currency:

A. management. B. stabilization. C. support. D. ceiling.

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Since 1970, the U.S. economy has experienced 2 periods of high inflation.

Answer the following statement true (T) or false (F)

Economics