If we consider age distribution, institutional factors, and in-kind transfer programs, income distribution is likely considerably more unequal than it appears from measured income
a. True
b. False
Indicate whether the statement is true or false
False
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Teaser interest rates refer to
A) the initial rates that are typically below market rate and are offered by lenders to entice the clients to borrow. B) mortgage rates. C) rates charged on all subprime mortgages. D) none of the above.
Which of the following distinctions helps to explain the difference between relevant and irrelevant cost?
A) accounting cost vs. direct cost B) historical cost vs. replacement cost C) sunk cost vs. fixed cost D) variable cost vs. incremental cost
Alan could most directly apply the principles of economic decision making with respect to his job when:
A. deciding how to spend his paycheck. B. deciding which girl to marry. C. deciding what to have for dinner after a long day at work. D. deciding which route on his way to work is the most scenic.
The purpose of convention is
A) to create a Nash game. B) to determine one equilibrium out of a multi-equilibrium situation. C) to offer multiple choices to players. D) all of these choices.