Home / Questions / Country A has a Gini coefficient of 0.5 and country B has a Gini coefficient of 0.7. It fo
Country A has a Gini coefficient of 0.5 and country B has a Gini coefficient of 0.7. It follows that
a.there is greater income inequality in country A than B.
b.there is greater income inequality in country B than A.
c.it is possible for the Lorenz curves in each country to be the same.
d.it is possible for the adjusted Gini coefficients to the same in each country.
e.none of the above
62.Consider the area between the line of perfect income equality and the Lorenz curve. In country A this area is larger than in country B. It follows that
a.the bottom 20 percent income group receives a lower percentage of total income in country A than in country B.
b.the bottom 20 percent income group receives a lower percentage of total income in country B than in county A.
c.the top 20 percent income group receives a higher percentage of total income in country B than in country A.
d.the top 20 percent income group receives a higher percentage of total income in country A than in country B.
e.none of the above
63.Based on the income data presented for the United States (in your text), it follows that the Gini coefficient for the United States is
a.less than 1 and greater than 0.
b.definitely less than 1, but it may be 0.
c.definitely greater than 0, but it may be 1.
d.definitely 1.
e.approximately 2.3.
64.A factor that does not contribute to income inequality includes
a.innate abilities and attributes.
b.the amount of work a person chooses to do.
c.education and training.
d.luck.
e.none of the above; that is, all factors contribute to income inequality.
65.Smith and Jones are different when it comes to taking risk. Smith will assume much more risk than Jones. It follows that
a.Smith will earn more income than Jones.
b.Jones will earn more income than Smith.
c.Smith has a higher probability than Jones of earning a higher income.
d.Smith has a higher probability than Jones of earning a lower income.
e.c and d
66.Wage discrimination exists when individuals of __________ are paid different wage rates.
a.varying ability and productivity
b.different ethnic origins
c.different religions
d.equal ability and productivity
e.b, c, and d
67.Smith and Jones work at very similar jobs, but Smith earns almost 30 percent more a day than Jones. This is a case of __________ discrimination.
a.gender
b.religious
c.wage
d.ethnic
e.There is not enough information to answer the question.
68.According to economists Frank and Cook, one reason there are more winner-take-all markets today than in the past is because
a.government has limited the choices that people can make when they are choosing what to buy.
b.changes in technology, communications, and transportation costs have made it possible for consumers to buy from a small handful of "the best" suppliers in the world.
c.changes in technology have lowered prices.
d.of the importance that today is placed on ideas instead of things.
e.a and b
69.In country A the income shares (in percent) received by the lowest fifth of income groups to the highest fifth of income groups is, respectively, 10, 15, 20, 25, and 30. In country B the income shares (in percent) received by the lowest fifth of income groups to the highest fifth of income groups is, respectively, 5, 12, 20, 25 and 38. It follows that the
a.income distribution is more equal in country B than A.
b.income distribution is less unequal in country B than A.
c.Lorenz curve in country B is nearly the same as the line of perfect income equality in country A, but not in country B.
d.income distribution is less equal in country B than A.
e.a and b
70.The economist who said, "I am distressed by the sight of poverty. I am benefited by its alleviation; but I am benefited equally whether I or someone else pays for its alleviation; the benefits of other people's charity therefore partly accrues to me" was
a.John Kenneth Galbraith.
b.John Rawls.
c.Milton Friedman.
d.Adam Smith.
e.David Ricardo.
Dec 09 2019 View more View Less
Literature Review Draft For this assignment, you will apply the key steps and add or refine existing sources to fit the key steps for a comprehensive literature review....
Feb 15 2020Which of the following is an example of a firm's long-term debt?a Retained earningsb Accounts receivablec Corporate bondsd Accounts payableIbiza Corporation has been inve...
Apr 06 2020The main stimulus that controls insulin release is A. low blood glucose B. high blood glucose C. time that has passed since a meal was consumed D. tropic hormones
Jul 16 2021In 2010, Amirante Corporation had pretax financial income of $168,000 and taxable income of $120,000. The difference is due to the use of different depreciation methods ...
May 04 2018May June July August September October November December January Collections worksheet: Billed charges $180,000 $180,000 $360,000 $540,000 $720,000 $360,000 $360,000 $90,...
Aug 10 2020A hollow tube with a rectangular cross-section has external dimensions of 0.5 in by 1 in and a wall thickness of 0.05 in. Assume that the material is brass, for which the...
Jun 05 2020Use a financial calculator or computer software program to answer the following questions:(a) What would be the future value (FV) of $15,555 invested now if it earns inte...
May 18 2018Kim Hotels is interested in developing a new hotel in Seoul. The company estimates that the hotel would require an initial investment of $16 million. Kim expects the hote...
Jun 19 2021Match the term with the best description.mitochondrial matrixa. needed for glycolysispyruvateb. inner spaceNADc. makes many ATPmitochondriond. product of glycolysisNADHe....
Jun 03 2021construct a scatterplot and identify the mathematical model that best fits the given data. Assume that the model is to be used only for the scope of the given data, and c...
May 30 2021