Of the following, which is the most accurate indicator of the degree of inequality?
A) distribution of annual income
B) distribution of lifetime income
C) distribution of wealth
D) distribution of the sum of wealth and annual income
B
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Refer to the table above. What is the marginal benefit that Jenny derives from the second unit of chocolate?
A) $0 B) $8 C) $9 D) $18
In open market operations, when the Fed __________ securities, bank reserves __________
A) buys; contract B) buys; expand C) sells; expand D) None of the above.
When an economy is on the balanced growth path, the growth rate of real GDP per capita is determined by the growth rate of
A) convergence. B) capital accumulation. C) total factor productivity. D) the labor force.
If technological change is factor neutral, then the firm's isoquants:
A. shift out away from the origin. B. shift in toward the origin. C. do not change in appearance. D. become flatter.