The more bowed out the Lorenz curve is, the

Suppose an economy experiences a permanent increase in its expected inflation rate. As a result, there is

A) a downward shift of the short-run Phillips curve. B) a downward movement along the short-run Phillips curve. C) an upward movement along the short-run Phillips curve. D) no change at all to the short-run Phillips curve. E) an upward shift of the short-run Phillips curve.

Data concerning the four-firm concentration ratios for U.S. manufacturing industries indicate that

a. very few oligopolies exist in the real world but the oligopoly model is still useful because it tells us something about firm behavior b. oligopolies are the second most prevalent market structure, monopoly being the first c. the four leading firms usually have less than 10 percent of industry sales d. the ratios are considerably less than the ratios in Canada and Western Europe e. oligopolies are very common