When comparing the distribution of wealth to the distribution of income, it can be noted that
A. the measurement of wealth is much less accurate than the measurement of income.
B. the distributions are about the same.
C. the measurement of income is much less accurate than the measurement of wealth.
D. wealth does not generate income.
Answer: A
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In the short run, a perfectly competitive firm will shut down if
A) it incurs any economic loss. B) price equals average cost. C) total revenue is less than total variable cost. D) total revenue is less than total fixed cost.
Targeting interest rates can be procyclical because
A) an increase in income increases interest rates, causing the Fed to buy bonds, increasing the monetary base and money supply, leading to further increases in income. B) an increase in interest rates increases income, causing the Fed to buy bonds, increasing the monetary base and money supply, leading to further increases in income. C) an increase in the monetary base increases the money supply, causing the Fed to buy bonds, increasing the monetary base and money supply, leading to further increases in income. D) an increase in income increases the monetary base and money supply, causing the Fed to buy bonds to increase interest rates and income.
There is a(n) ________ relationship between a nation's rate of growth in real GDP per capita and bureaucratic inefficiency
A) direct B) inverse C) proportional D) undefined
Average revenue is another way of describing
a. price b. output c. total revenue d. profit e. marginal cost