What does the Lorenz Curve illustrate about the economy?
(A) The kinds of jobs.
(B) The distribution of income.
(C) The causes of poverty.
(D) The types of families.
Ans: (B) The distribution of income.
Economics
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Which of the following statements about private and social costs is TRUE?
A) Social costs include externalities. B) Private cost do not include externalities. C) Social costs are never smaller than private costs. D) All of the above.
Economics
Keynesians believe that the transactions demand for money influences the
a. liquidity of money b. precautionary motives for holding money c. velocity of money d. interest rate e. level of real GDP
Economics