Which of the following statements regarding the distribution of money income is most correct?
A. The distribution of money income is synonymous with the distribution of goods and services.
B. The distribution of money income overstates the extent of poverty in the United States.
C. The distribution of money income includes the monetary value of in-kind benefits.
D. Statistics on the distribution of money income include the underground economy.
Answer: B
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If the area between the line of equality and the Lorenz curve is 1,250, and the entire area beneath the line of equality is 5,000, the Gini ratio is
A) 0.25. B) 4.00. C) 0.33. D) 0.80.
A good that has social costs that are equal to private costs has a price that is
A) too high. B) too low. C) just right. D) equal to marginal cost.
Real wages usually lag behind the increases in labor productivity
a. True b. False Indicate whether the statement is true or false
Answer the following questions:
a. What is a bond? b. If bonds make fixed payments every year, explain how a reduction in market interest rates will increase the price of the bond in the market.