All of the following are criticisms of the Lorenz curve analysis EXCEPT
A) income-in-kind is not figured in.
B) the inequality gap is not an issue that economists study.
C) different sizes of households are ignored.
D) it does not take into consideration lifetime earnings.
B
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Suppose a firm's total revenue is $100 when it sells 10 units, and $110 when it sells 11 units. The firm, therefore, is a(n):
A. oligopolist. B. perfect competitor. C. pure monopolist. D. monopolistic competitor.
Suppose we observe the price level increasing and real GDP decreasing. An explanation for this is that
A) the dollar weakened and the effect on aggregate supply was less than the effect on aggregate demand. B) the dollar weakened and the effect on aggregate supply was greater than the effect on aggregate demand. C) the dollar strengthened and the effect on aggregate supply was less than the effect on aggregate demand. D) the dollar strengthened and the effect on aggregate supply was greater than the effect on aggregate demand.
The demand-for-money curve illustrates the __________ relationship between the quantity demanded of money and __________
A) inverse; the interest rate B) direct; GDP. C) direct; the interest rate D) inverse; GDP
Other things constant, an increase in interest rates will
A) increase your incentive to borrow. B) increase your incentive to save. C) increase your incentive to buy a new car on credit. D) reduce your incentive to save.