If the production of a sofa requires the purchase of 3 types of inputs and the production of a harp requires the purchase of 30 types of inputs,
a. the harp-producing firm will buy the sofa-producing firm
b. the sofa-producing firm will buy the harp-producing firm
c. harp production is more likely to be done by firms than sofa production is
d. sofa production is more likely to be done by firms than harp production is
e. both harp and sofa production will always be done by firms because there is more than one input involved in each
C
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From the late 1980s to 2000, the natural rate of unemployment
A) fluctuated up and down, following the path of the actual rate of unemployment. B) gradually declined. C) climbed sharply. D) held constant.
Suppose 10 percent of the families receive 10 percent of the income, 20 percent of the families receive 20 percent of the income, and so forth. The Lorenz curve would be
A) a straight line at a 45-degree angle from the origin. B) a straight line at a 30-degree angle from the origin. C) the most bowed curve possible. D) the horizontal axis.