One reason scholars argue that government activity should be considered when evaluating the measured income distribution because:
a. the lowest-income quintile has benefited from state-subsidized higher education more than have middle-income and higher income quintiles.
b. the higher-income quintiles have benefited more than the poor from housing subsidies and Medicaid
c. the middle and higher-income quintiles have benefited more than the poor from state-subsidized airports, airlines, operas, and museums.
d. the lowest-income quintile has benefited more than middle-income and upper-income quintiles from state-subsidized airports, airlines, operas, and museums.
c
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The marginal propensity to consume rises as the absolute level of income increases
Indicate whether the statement is true or false
In the late 1990s, the more than expected increases in tax revenues were the result of
a. rapid economic growth. b. rapid increases in the national debt. c. rising rates of inflation, and therefore, nominal incomes. d. rising balance of trade surpluses and the import duties they generated.
Condorcet explained his paradox in a 1951 book called Social Choice and Individual Values
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, a decrease in unemployment may be represented by the movement from
A. B to A. B. C to D. C. B to D. D. A to C.