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Less-developed countries exhibit

Less-developed countries exhibit

a.less income inequality than more developed countries

b.lower Gini coefficients than more developed countries

c.a greater desire to achieve income equality

d.greater income inequality than more developed countries

e.erratic Gini coefficients year after year

22.              A less developed economy has greater income inequality the

a.less the economy is dependent upon agriculture

b.smaller the middle class

c.more the economy is dependent upon manufacturing

d.less diverse the level of manufacturing activity

e.greater the level of education in the country

23.              Wealth refers to the

a.income earned by an individual

b.value of all assets accumulated by an individual

c.total of all income earned by an individual over an entire lifetime

d.value of all physical assets minus financial assets an individual holds

e.total of all money wealth held by an individual

24.              Life-cycle wealth refers to the

a.income earned by an individual

b.value of stock holdings by an individual

c.monetary assets held by an individual

d.non-money assets held by individuals

e.amount of assets received through inheritance

25.              Which of the following would be included in a person’s life-cycle wealth?

a.savings account

b.refrigerator

c.stock in a corporation

d.government savings bonds

e.income

26.              Which of the following would not be part of a person’s wealth?

a.a $100,000 inheritance

b.$100,000 in a savings account

c.$100,000 of corporate stock

d.a $100,000 mortgage on a home

e.a $10,000 family car

Dec 11 2019 View more View Less

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