The budget line ________
A) shows the limits to a household's consumption choices
B) illustrates a household's preferences
C) defines a household's consumption when prices change
D) shows the income a household needs to be able to buy goods and services
A
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When the Federal Reserve sells treasury securities in the open market,
A. The buyers of these securities pay for them with checks and bank reserves fall B. The buyers of such securities by new securities in the open market and there is a decrease in bank reserves C. The sellers of such securities deposit the funds in their banks and bank reserves decrease
The more bowed out the Lorenz curve, the
A) less equal the income distribution. B) more equal the income distribution. C) greater the overall wealth in the economy. D) less the overall wealth in the economy.