If 50 percent of the population receives 20 percent of the total income, it can be represented on the Lorenz curve by:
a. a point below the line of income equality.
b. a line below the line of income equality.
c. a point on the line of income equality.
d. a line intersecting the line of income equality from below.
e. a point above the line of income equality.
a
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Effectively removing all illegal immigrants from U.S. labor markets would:
A. reduce wages in the United States. B. increase employment of domestic-born workers, but by a lesser amount than the number of jobs lost by illegal workers. C. increase employment of domestic-born workers at a rate of one-for-one with the jobs lost by illegal workers. D. increase employment of domestic-born workers by an amount greater than the number of jobs lost by illegal workers.
Refer to the data. If the commercial banking system actually loans the maximum amount it is able to lend:
Answer the question on the basis of the following consolidated balance sheet for the commercial banking system. Assume the required reserve ratio is 30 percent. All figures are in billions.
A. reserves and deposits equal to that amount will be gained.
B. excess reserves will be $2.6 billion.
C. excess reserves will fall to $1.7 billion.
D. excess reserves will be reduced to zero.