Over the business cycle, real GDP fluctuates around
A) the business cycle trough.
B) the business cycle peak.
C) nominal GDP.
D) potential GDP.
E) the Lucas Wedge.
D
Economics
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A normal good is one
A) with a downward sloping demand curve. B) for which demand increases when the price of a substitute rises. C) for which demand increases when income increases. D) none of the above
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In the figure above, the poorest 20 percent of all households receive what share of all income?
A) 10 percent B) 20 percent C) 30 percent D) 40 percent
Economics