A Gini coefficient of ________ means that an income distribution is perfectly equal and a Gini coefficient of ________ means the income distribution is perfectly unequal
A) 1; 0 B) 0, 100 C) 100, 0 D) 0; 1
D
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According to the Ricardian equivalence theorem, people increase savings when the government increases deficits because they recognize the link between government deficits and higher future taxes.
Answer the following statement true (T) or false (F)
Which of the following will enable a nation to obtain a combination of consumer goods and capital goods outside its production possibilities curve?
A. Full employment. B. International specialization and trade. C. Full production. D. Productive efficiency.
Suppose that your roommate comes back to the dormitory exclaiming about what a great deal she got on a new shirt that she would have purchased at the regular price for $35, but she bought on sale for $6. An appropriate response would be to
a. make an interpersonal comparison of utility and remark that the shirt is ugly and not worth even $6 to you b. suggest that your roommate is now enjoying $29 of consumer surplus c. suggest that the shirt was on sale because it has a low marginal utility d. suggest that your roommate's total utility from the shirt is 35 utils e. suggest that your roommate's total utility from the shirt is at least $29
Refer to Figure 15.6. All of the following Fed actions are likely to increase the aggregate demand curve from AD1 to AD2 except
A. Raising the discount rate. B. Lowering the federal funds rate. C. Buying bonds in the open market. D. Lowering the reserve requirement.