ECO 202 ECO202 Quiz 6 Answers / Principles of Macroeconomics
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ECO 202 Principles of Macroeconomics Quiz 6 Answers (UNC Greensboro)
Which one of the following is an example of natural capital?
The conversion of resources into goods and services is known as ...
A transfer of goods or services is referred to as ...
What is the difference between a stock and a flow?
Net investment is measured as gross investment minus ...
Which one of the following statements is TRUE?
Which one of the following statements is an example of capital income?
A meanstested program is ...
A tax system that taxes higherincome individuals at higher rates is called ...
About what percentage of income earned in the United States goes to the richest 20% of households?
What is represented by a Lorenz curve?
This question refers to the following income distribution diagram. In the above graph illustrating the income distribution in a particular society, the Gini ratio would be calculated using which of the following formulas?
If all income in a society were equally distributed, its Lorenz curve would look like ...
Which of the following countries has the highest Gini ratio?
If all income in a country was equally distributed, what would its Gini ratio be?
Which one of the following statements is FALSE?
Which one of the following statements best describes the time trend of U.S. income inequality over the last several decades?
Which one of the following would be classified as part of the core sphere?
Which one of the following would NOT be classified as part of the public purpose sphere?
Which one of the following activities is least likely to occur in the core sphere?
The economic activity of resource maintenance only applies to natural capital.
The two ways distribution can occur is through exchange or transfer.
An example of a flow is the amount of water in a lake.
Depreciation occurs whenever a stock is greater in quantity than a flow.
Renewable resources are available in fixed supplies.
A tax system which applies the same tax rate to everyone is called meanstested.
If all income in a society was equally distributed, its Lorenz curve would look like a horizontal line.
A Gini ratio of zero indicates that income is equally distributed in a society.
The Gini ratio ranges between 1 and +1.
The United States has the highest Gini ratio of any country in the world.
The Gini ratio changes depending upon whether inkind transfers are included as income.
Evidence on economic inequality in the United States suggests that new technologies have typically led to reductions in income inequality.
The organization of household savings is an activity that occurs in the business sphere.
Households are classified in the public purpose sphere.
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