Exhibit 12-3 Lorenz curve for an economy
If this economy's distribution of income becomes more equal, then the Lorenz curve shown in Exhibit 12-3 will:
A. move closer to the 45° line.
B. become more bowed outward.
C. lie above the 45° line.
D. shift down and to the right.
Answer: A
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The claim that lower environmental standards in foreign countries reduce industrial competitiveness for high standard countries is on firm theoretical ground because
A) higher environmental standards requirements raise the cost of production to a firm or industry abiding by the rules. B) there will be a race-to-the-bottom competition on environmental standards. C) the interests of firms that are subject to the high standards coincide with the nation's interests, one-for-one. D) environmental standards in most countries have gotten more lax over time.
Many late 19th century managerial innovations were first developed by
a. the automobile industry. b. the railroads. c. the textile industry. d. the iron and steel industries.