All of the following are criticisms of the Lorenz curve analysis EXCEPT
A. it does not take into consideration lifetime earnings.
B. the inequality gap is not an issue that economists study.
C. different sizes of households are ignored.
D. income-in-kind is not figured in.
Answer: B
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Everything else the same, in the foreign exchange market which of the following increases the demand for U.S. dollars and shifts the demand curve rightward?
A) The U.S. interest rate rises. B) The U.S. exchange rate falls. C) The Japanese interest rate rises. D) The U.S. exchange rate rises. E) The expected future exchange rate falls.
One well-established full-service stock brokerage charges $35 commissions per trade. A new online brokerage charges $7.95 per trade. Yet, many people still elect to use the traditional, full service broker. Why?
A) They're fools. B) They must not be aware of online brokers. C) They might perceive the low commission to be a sign of low reliability. D) They are failing to economize.
Which of the following is false? a. Markets can make products better
b. Markets can make products cheaper. c. Markets can create new products. d. Markets only result in producing those goods and services that are socially desirable.
If the quantity supplied responds only slightly to changes in price, then
a. supply is said to be elastic. b. supply is said to be inelastic. c. an increase in price will not shift the supply curve very much. d. even a large decrease in demand will change the equilibrium price only slightly.