If the equilibrium price of an airline ticket is $400 and the government imposes a price floor of $500 on airline tickets, then fewer airline tickets will be sold than at the market equilibrium

Universities sometimes hire professors who are poor teachers but have good research skills because

a. research ability is more important in education than teaching ability b. students don't listen to professors anyway c. teaching can be learned; research ability cannot d. research skills are easier to measure than teaching skills e. research skills are difficult to measure

The diagram that represents how income is distributed among members of a population is known as a(n):

a. indifference curve. b. Laffer curve. c. Edgeworth box. d. Lorenz curve. e. Phillips curve