The lifetime income distribution of income is a ________ accurate indicator of the degree of economic inequality than the distribution of ________
A) less; of annual income
B) more; of annual income
C) less; of wealth
D) less; annual Lorenz curves
B
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If coal is extracted in an unsustainable manner in the current period, the price for steel is likely to increase in future
a. True b. False Indicate whether the statement is true or false
Poverty is defined in two ways: the absolute concept of poverty and the relative concept of poverty
a. True b. False Indicate whether the statement is true or false
Under a proportional tax, the fraction of income paid in taxes
a. rises as income rises. b. is unchanged as income changes. c. falls as income rises. d. is proportional to the change in income.
The price that a monopolistically competitive firm will charge depends on what its competitors charge.
Answer the following statement true (T) or false (F)