Based on the graphic showing the Lorenz Curve, in 2017 income distribution in the United States ______.
a. followed exactly along the line of perfect equality
b. was closer to the line of perfect equality than in 1980
c. was farther from the line of perfect equality than in 1980
d. was the same distance from the line pf perfect equality as in 1980
c. was farther from the line of perfect equality than in 1980
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Suppose that Cambodia becomes the next popular tourist destination. You notice that hotels, restaurants, and other services cost much less there than in the United States. From the perspective of the U.S. dollar, what would be the real exchange rate of the Cambodian riel?
a) The real exchange rate would be 0. b) The real exchange rate would be 1. c) The real exchange rate would be greater than 1. d) The real exchange rate would be less than 1.
The equation of exchange suggests that, if the supply and velocity of money remain unchanged, an increase in the physical volume of goods and services produced will cause:
A. the unemployment rate to rise. B. the Federal Reserve Banks to sell securities in the open market. C. a decline in the price level. D. an automatic budget deficit.