Suppose 10 percent of the families receive 10 percent of the income, 20 percent of the families receive 20 percent of the income, and so forth. The Lorenz curve would be

The demand curve for a monopoly firm

A) lies below its marginal revenue curve. B) is perfectly inelastic. C) is the same as the market demand curve. D) is horizontal.

Efficiency wage theory provides a reason for uncontracted nominal wages to ________ when nominal aggregate demand falls, thus ________ a recession

A) fall proportionately, leading to B) fall proportionately, preventing C) remain unchanged, leading to D) remain unchanged, preventing