Which of the following would be an example of how pure luck contributes to income inequality?
A. Approval to receive unemployment benefits
B. Receipt of a government grant for housing
C. Selection as winner of a state lottery
D. Admission to a state university
C. Selection as winner of a state lottery
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Use the above table. The autonomous consumption in this table is
A) $0. B) $20. C) $50. D) $140.
The data in the table above shows the consumption by families in a small (poor) economy. The families consume only salt and bread. The reference base period is 2011. The cost of the CPI market basket in 2011 is
A) $64.00. B) $3.50. C) $52.00. D) $5.00. E) $100.
If higher inflation is expected in the future, then the
A) SAS curve shifts rightward. B) AD curve shifts rightward. C) LAS curve shifts rightward. D) None of the above answers is correct.
The downward sloping marginal revenue product of labor is
A) the firm's supply of labor. B) the firm's short-run demand for labor. C) the firm's marginal cost of labor. D) another term for the marginal revenue product of labor.