Which of the following is NOT a correct criticism of the Lorenz curve?
A) It does not include payments in kind.
B) It does not deal with differences in family size.
C) It ignores the impact of age distribution on income distribution.
D) It refers to money income after taxes.
D
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GA 400 is a state highway that runs through part of Atlanta,GA. In order to travel on one portion of GA 400, drivers are required to pay a toll. It follows that section of GA 400 will exhibit non-rivalry in consumption if
a. the road is congested. b. the road is not congested. c. the toll is decreased. d. the the toll is completely removed.
Which of the following would be a deadweight loss from a tariff?
A) The shift of consumer surplus to government B) The increase in producer surplus C) The decrease in consumer surplus D) The decrease in consumer surplus due to a drop in consumption E) All of the above.
Money includes
A) currency. B) checking deposits held by households and firms. C) deposits in the foreign exchange markets. D) currency and checking deposits held by households and firms. E) futures and deposits in the foreign exchange market.
Another word for elasticity is:
a. responsiveness. b. happiness. c. bonus d. profit. e. surplus.