The Lorenz curve is criticized for all of the following EXCEPT
A) that it excludes transfers-in-kind income.
B) that it does not account for the size differences of households.
C) that it does not account for age differences of households.
D) that it does not account for the impact of trade on the standard of living.
D
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An increase in the real interest rate
A) increases savings for both borrowers and lenders. B) increases savings for borrowers, but has an uncertain effect on the savings of lenders. C) increases savings for lenders, but has an uncertain effect on the savings of borrowers. D) has an uncertain effect on the savings of both borrowers and lenders.
A monopoly that results from economies of scale is called a(n):
A. large-scale monopolist. B. natural monopoly. C. antitrust violator. D. cost-plus firm.