Using the table provided above, what can be concluded about the Gini ratio and what does this mean for income equality?
A) The Gini ratio is increasing which means there is greater income inequality.
B) The Gini ratio is increasing which means there is greater income equality.
C) The Gini ratio is decreasing which means there is greater income equality.
D) The Gini ratio is decreasing which means there is greater income inequality.
A
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When policy makers decide to devalue the currency, such an action generally represents
A) a decision to let the currency float. B) an increase in the pegged value of the domestic currency. C) a reduction in the foreign price level. D) a reduction in the domestic price level. E) none of the above
The cost of producing a hardback book is only about 20 percent higher than producing a paperback book, yet the hardback price is typically three times the paperback price. This suggests that demand for paperback books is ________ than demand for hardback books.
A. more elastic B. less elastic C. more variable D. lower