Some economists have criticized standard government figures on income inequality, arguing that these data:
A. exclude households whose earnings arise in the public sector.
B. conceal the strong trend toward greater equality in household sizes.
C. conceal the growth of poverty due to a growing number of discouraged workers.
D. overstate the degree of income inequality by failing to include noncash transfers as
income.
Answer: D
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Based on the lost-income approach, which of the following 30 year old males would most likely be worth the most in terms of the value of his life?
A) Devin, a high-school dropout who works as a barista. B) Antonio, a college graduate who is on permanent disability due to severe diabetes. C) Timothy, a licensed electrician with two years of college. D) Jamal, a CPA with a master's degree in accounting.
The cumulative power of productivity growth: a. emphasizes the importance of short-term growth. b. emphasizes the importance of long-term growth. c. emphasizes the importance of capital–labor ratio. d. increases poverty in an economy
e. leads to capital deepening
Which of the following always uses prices and quantities from the same period?
a. both nominal and real GDP. b. nominal GDP but not real GDP. c. real GDP but not nominal GDP. d. neither nominal or real GDP.
DeBeers was able to profit the most from the diamond market by selling a:
A. lot of diamonds at high prices. B. lot of diamonds at low prices. C. few diamonds at low prices. D. few diamonds at high prices.