The statement that "measures of the distribution of income are based on money income" relates to which problem in measuring inequality?
a. in-kind transfers
b. economic life cycle
c. transitory versus permanent income
d. economic mobility
a
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If a country's annual growth rate is 2%, then its output will double in approximately ____ years
a. 2 b. 10 c. 25 d. 35
If consumers attempt to buy more goods than the economy can produce, the result is
A. Unemployment. B. The wealth effect. C. Demand-pull inflation. D. Cost-push inflation.
Stockholders
A) are liable for the debts of a corporation. B) are the owners of a corporation. C) control a corporation's day-to-day activities. D) hire the managers of a corporation.
A perfectly competitive firm will be willing to produce even at a loss in the short run, as long as
A. the loss is smaller than its total variable costs. B. the loss is smaller than its marginal costs. C. price exceeds marginal costs. D. the loss is smaller than its total fixed costs.