An ________ distribution of income would yield a ________ curve that was a 45-degree line between 0 and 100%.
A. equal; Gini
B. unequal; Lorenz
C. unequal; Gini
D. equal; Lorenz
Answer: D
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The two leading countries of origin of U.S. legal immigrants in 2011 were Mexico and:
A. China B. India C. The Dominican Republic D. The Philippines
Of the following goods, which is most likely to be quite inelastic?
a. gasoline b. Chevrolet automobiles c. fresh tomatoes d. provolone cheese
If demand is perfectly elastic,
A. The demand curve is vertical. B. The demand curve is very steep. C. The demand curve has a zero slope. D. The demand curve is horizontal.
As percentage of imports, the largest product category of U.S. imports from China is
A) chemicals, minerals, and metals. B) machinery and transportation equipment. C) textiles, apparel, and footwear. D) electronic products.