Two major criticisms of the Bureau of Census data as a portrayal of the degree of income inequality are that the income concept employed is too:
A. Broad and the income accounting period is too short
B. Narrow and the income accounting period is too long
C. Narrow and the income accounting period is too short
D. Broad and the income accounting period is too long
C. Narrow and the income accounting period is too short
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If the ratio of price of cloth (PC) divided by the price of food (PF) increases in the international marketplace, then
A) the cloth exporter will increase the quantity of cloth produced. B) the cloth exporter will increase the quantity of cloth exported. C) the food exporter will increase the quantity of food exported. D) the cloth exporter will decrease the quantity of cloth exported. E) the country would import more cloth.
The conversion of a barter economy to one that uses money
A) increases efficiency by reducing the need to exchange goods and services. B) increases efficiency by reducing the need to specialize. C) increases efficiency by reducing transactions costs. D) does not increase economic efficiency.
In order for an individual to receive a black belt in karate, they must pass a series of tests designed by a third party. An announcement listing those individuals who received their black belt in karate is an example of ________.
A) a trademark B) screening C) moral hazard D) a certification
People's decision about whether to hold money or bonds can be influenced by the interest rate
a. True b. False