Which of the following is not correct?
a. Many measures of inequality are based on income, which may not reflect a person's standard of living.
b. Because many of the poorest families receive in-kind transfers, more families have lower standards of living when compared to poverty rates based on income.
c. Because people can borrow and save to smooth out life cycle changes in income, equality measures based only on income may not reflect a person's standard of living.
d. A person's standard of living depends more on her permanent income than her transitory income, so inequality measures based on current income may be misleading.
b
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Which of the following is a positive question?
A) What are the returns to education? B) Can a monopoly ever be good for society? C) Is there value in putting yourself in someone else's shoes? D) Are companies like Nike exploiting workers in the developing world?
Explain why government, rather than private firms, is required for efficient mosquito eradication programs.
What will be an ideal response?
What is the main difference between economic regulation and social regulation?
What will be an ideal response?
If the Federal Reserve wished to increase interest rates using open market operations, it would
A. buy corporate stocks. B. buy US government securities. C. sell US government securities. D. buy gold.