A Lorenz curve that is perfectly straight indicates
A) that society is very rich.
B) that a small portion of the population accounts for most of the income.
C) that a large portion of the population accounts for most of the income.
D) complete income equality.
D
Economics
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Equilibrium in a monopoly occurs when:
a. the monopolist has driven out all competitors. b. the monopoly firm has sold the maximum number of units. c. the monopoly firm produces the quantity that maximizes its profits (or minimizes loss) where MR = MC. d. the monopoly firm has gotten unions to agree to wage concessions.
Economics
Equilibrium in the foreign exchange market implies equilibrium in the balance of payments
Indicate whether the statement is true or false
Economics