All of the following are criticisms of the Lorenz curve EXCEPT
A) The Lorenz curve does not include in-kind transfers.
B) The Lorenz curve does not account for age differences.
C) The Lorenz curve does not account for differences in the sizes of families.
D) The Lorenz curve does not account for differences in education levels.
D
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The South's economy was based on production of
A. iron, steel and textiles. B. corn, wheat and soybeans. C. tobacco, cotton and rice. D. iron, wheat and cotton.
The fact that individuals whose credit worthiness is less than it appears to be are those who are most willing to borrow funds at any given interest rate is an example of
A) moral bonuses. B) diverse origins. C) symmetric information. D) adverse selection.
The World Trade Organization (WTO) was organized as a successor to the
A) IMF. B) UN. C) UNCTAD. D) GATT. E) the World Bank.
When a U.S. importer needs $22,000 to settle an invoice for 25,520 Swiss francs, the exchange rate must be:
a. 1 Swiss franc = $1.16. b. 1 Swiss franc = $0.16. c. 1 Swiss franc = $0.84. d. $1 = 1.16 Swiss franc. e. $1 = 1.84 Swiss franc.