Standard measurements of the degree of income inequality take both money income and in-kind transfers into account
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose the United States has a Gini coefficient of 0.4 and Sweden has a Gini coefficient of 0.25. Which of the following statements is true?
A) Income distribution is changing faster in the United States. B) The distribution of income is more equal in the United States. C) Without information on population, it is not possible to compare income distribution between countries. D) The distribution of income is more equal in the Sweden.
When a business is considered by law to be a legal entity, it is known as a
A) partnership. B) conglomerate. C) corporation. D) proprietorship.
Robert decides not to attend a showing of the newest Star Wars movie when the price of a ticket is $10. From this, we can conclude that seeing the movie is
A. worth less than 1,000 utils to Robert. B. worth $8 to Robert. C. was worth less than $10 worth of other goods for Robert. D. something that Robert would never do.
Which of the following statements is true?
A) Firms are the demanders in the market for labor as well as the market for consumer goods. B) Firms are the suppliers in the market for labor as well as the market for consumer goods. C) Firms are the demanders in the market for labor, whereas they are the suppliers in the market for consumer goods. D) Firms are the suppliers in the market for labor, whereas they are the demanders in the market for consumer goods.