微观经济学题库2.pdf
Microeconomics9 lOe(Parkin)Chapter 19 Economic Inequality1 Economic Inequality in the United States1)Market income isA)profit earned in factor markets.B)interest earned in factor markets.C)wages,interest,rent,and profit earned in factor markets.D)wages,interest,rent,and profit earned in factor markets plus cash payments made tohouseholds by government.Answer:CTopic:Market IncomeSkill:RecognitionQuestion history:Modified 10th editionAACSB:Reflective Thinking2)Market income isA)wage,interest,rent,and profit earned in factor markets.B)wage income.C)wage and salary income.D)money income.Answer:ATopic:Money IncomeSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking3)Money income isA)market income plus cash payments from government.B)equal to market income.C)market income plus cash payments from government minus taxes.D)market income minus taxes.Answer:ATopic:Money IncomeSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking4)The mode household income isA)the income that separates households into two equal groups.B)the most common household income.C)the mean household income.D)the average household income.Answer:BTopic:Mode IncomeSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking5)Mode income isA)the most common income.B)the average income.C)the middle income level.D)the same as money income.Answer:ATopic:Mode IncomeSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking6)The median household income isA)the income that separates households into two equal groups.B)the most common household income.C)the mean household income.D)the average household income.Answer:ATopic:Median IncomeSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking7)The mean household income isA)the income that separates households into two equal groups.B)the most common household income.C)the percentage of total income received by the richest 20 percent of households.D)the average household income.Answer:DTopic:Mean IncomeSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking8)In the United StatesA)there are more households with incomes below the mean income than above the meanincome.B)there are more households with incomes above the mean income than below the meanincome.C)the mode income equals the mean income.D)the income distribution is bell shaped.Answer:ATopic:Economic Inequality in the United StatesSkill:RecognitionQuestion history:Modified 10th editionAACSB:Reflective Thinking9)In the United States,the median household income is than the mean income,which means there are households with low incomes than with high incomes.A)bss;moreB)greater;moreC)geater;fewerD)fess;fewerAnswer:ATopic:Economic Inequality in the United StatesSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking10)The distribution of income in the United States is characterized by the following relationshipbetween the mean,median,and mode incomes:A)mean income median income mode income.B)mode income median income mean income.C)median income mean income mode income.D)mode income mean income median income.Answer:BTopic:Distribution oflncomeSkill:RecognitionQuestion history:Modified 10th editionAACSB:Reflective Thinking11)The distribution of income in the United States is skewed so that the mode level ofhousehold income is the median household income and the median household incomeis than the mean household income.A)less than;less thanB)less than;greater thanC)greater than;greater thanD)greater than;less thanAnswer:ATopic:Distribution oflncomeSkill:RecognitionQuestion hstory:Previous edition,Chapter 19AACSB:Reflective Thinking12)The income distribution in the United States isA)positively skewed.B)negatively skewed.C)bell-shapedD)uniform.Answer:ATopic:Distribution oflncomeSkill:RecognitionQuestion hfctory:Previous edition,Chapter 19AACSB:Reflective Thinking13)The distribution of U.S.income is not bell-shaped because there areA)there are more households with incomes below the mean income than above the meanincome.B)there are more households with incomes above the mean income than below the meanincome.C)the mode income equals the mean income.D)the income distribution is bell shaped.Answer:ATopic:Distribution oflncomeSkill:RecognitionQuestion history:Modified 10th editionAACSB:Reflective Thinking14)In the United States,the percentage of households that have incomes below the mean incomeisA)50 percent.B)less than 50 percent.C)more than 50 percent.D)0 percent.Answer:CTopic:Distribution oflncomeSkill:ConceptualQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking15)In the United States the richest 20 percent of households receive about of totalincome.A)10 percentB)20 percentC)50 percentD)80 percentAnswer:CTopic:Economic Inequality in the United StatesSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking16)In the United States the poorest 20 percent of households receive about of totalincome.A)1 percentB)4 percentC)1()percentD)15 percentAnswer:BTopic:Economic Inequality in the United StatesSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective ThinkingPercent ofhouseholds(percent)Percent of income(percent)Lowest 2015Second 2015Third 2020Fourth 2020Highest 203017)An economy has the income shares information in the table above.Which of the following istrue?A)The information in the table represents the income distribution in the United States.B)Income in the U.S.economy is more equally distributed than that represented in the table.C)Income in the U.S.economy is less equally distributed than that represented in the table.D)The information in the table represents the wealth distribution in the United States.Answer:CTopic:Economic Inequality in the United StatesSkill:ConceptualQuestion history:Previous edition,Chapter 19AACSB:Analytical Scills18)As a tool that is used to measure inequality in the distribution of income,the Lorenz curvegraphsA)the cumulative percentage of income against the cumulative percentage of households.B)the percentage of total income received by each given percentage of households.C)the mean income,median income,and mode income against the percentage of households.D)the mean income received by households over time.Answer:ATopic:Lorenz CurveSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking19)The Lorenz curve graphs theA)cumulative percentage of spending against the cumulative percentage of households.B)marginal percentage of income against the marginal percentage of households.C)cumulative percentage of income against the cumulative percentage of households.D)cumulative percentage of spending against the marginal percentage of households.Answer:CTopic:Lorenz CurveSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking20)A Lorenz curve graphs theA)percentage of income or wealth against the percentage of households.B)cumulative percentage of income or wealth against the cumulative percentage of households.C)cumulative value of income against the cumulative percentage of households.D)percentage of wealth against the percentage of income.Answer:BTopic:Lorenz CurveSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking21)A Lorenz curve measuresA)the benefits received through welfare programs.B)the actual income distribution and compares it to an equal income distribution.C)the degree to which income taxes are regressive.D)the effect of flat taxes on income distribution.Answer:BTopic:Lorenz CurveSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking22)A Lorenz curve can be used to illustrateA)the supply of labor.B)the substitution effect.C)the income effect.D)the distribution of income.Answer:DTopic:Lorenz CurveSkill:RecognitionQuestion hfctory:Previous edition,Chapter 19AACSB:Reflective Thinking23)The Lorenz curveA)explains why some households have different incomes.B)explains why income is equally distributed.C)graphically shows the degree of income inequality.D)graphically shows the amount of wealth in a country.Answer:CTopic:Lorenz CurveSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking24)From left to right,the horizontal axis of the Lorenz curve ranks households fromA)smallest to largest.B)largest to smallest.C)poorest to richest.D)richest to poorest.Answer:CTopic:Lorenz CurveSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking25)Country A has a more equal distribution of income than country B ifA)country As Lorenz curve is closer to the line of equality than is country Bs Lorenz curve.B)country B*s Lorenz curve is closer to the line of equality than is country As Lorenz curve.C)country A*s Lorenz curve is just as close to the line of equality as is country Bs Lorenz curve.D)None of the above because it is impossible to compare income inequalities across countries.Answer:ATopic:Lorenz CurveSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking26)The farther the Lorenz curve for income is from the line of equality,the more isdistributed.A)equally wealthB)unequally incomeC)unequally wealthD)equally incomeAnswer:BTopic:Lorenz CurveSkill:RecognitionQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking27)If a Lorenz curve for a countrys income bows more rightward over time,then the countrysA)income is increasing.B)income is decreasing.C)income is becoming more unequally distributed.D)income is becoming more equally distributed.Answer:CTopic:Lorenz CurveSkill:ConceptualQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking28)If a Lorenz curve for income moves rightward and becomes more bowed out over time,thenA)the population is growing.B)income is growing.C)income is being more equally distributed.D)income is being more unequally distributed.Answer:DTopic:Lorenz CurveSkill:ConceptualQuestion history:Previous edition,Chapter 19AACSB:Reflective Thinking29)If a Lorenz curve moves leftward and becomes closer to the line of equality over time,thenA)the population is growing.B)income is growing.C)income is being more equally distributed.D)income is being more unequally distributed.Answer:CTopic:Lorenz CurveSkill:ConceptualQuestion history:Previous edition,Chapter 19AACSB:Reflective ThinkingGroupPercent ofincomePercent ofwealthPoorest 20%50Poorest 40%152Poorest 60%305Poorest 80%551030)The above table shows the distribution of income and wealth in Miseria.What percent ofincome is earned by the richest twenty percent?A)5 percentB)20 percentC)45 percentD)55 percentAnswer:CTopic:Lorenz CurveSkill:AnalyticalQuestion history:Previous edition,Chapter 19AACSB:Analytical Skills31)The above table shows the distribution of income and wealth in Miseria.What percent ofincome is earned by the richest 40 percent of the population?A)20 percentB)30 percentC)55 percentD)70 percentAnswer:DTopic:Lorenz CurveSkill:AnalyticalQuestion history:Previous edition,Chapter 19AACSB:Analytical Scills32)The above table shows the distribution of wealth and income for Miseria.What percent ofthe wealth is owned by the wealthiest twenty percent of the population?A)0 percentB)2 percentC)5 percentD)83 percentAnswer:DTopic:Lorenz CurveSkill:AnalyticalQuestion history:Previous edition,Chapter 19AACSB:Analytical Skills33)The above table shows the distribution of wealth and income for Miseria.What percent ofwealth is owned by the poorest forty percent of the population?A)0 percentB)2 percentC)5 percentD)10 percentAnswer:BTopic:Lorenz CurveSkill:AnalyticalQuestion history:Previous edition,Chapter 19AACSB:Analytical Skills34)The above table shows the distribution of wealth and income in Miseria.What percent ofwealth is owned by the poorest twenty percent?A)0 percentB)2 percentC)3 percentD)5 percentAnswer:ATopic:Lorenz CurveSkill:AnalyticalQuestion history:Previous edition,Chapter 19AACSB:Analytical Skills35)The above table shows the distribution of wealth and income in Miseria.The Lorenz curvefor wealth wouldA)be parallel to the line of equality.B)lie to the left of the Lorenz curve for income.C)become flatter when moving from left to right.D)intersect the horizontal axis at twenty percent.Answer:DTopic:Lorenz CurveSkill:AnalyticalQuestion history:Previous edition,Chapter 19AACSB:Analytical Skills36)The above table shows the distribution of wealth and income in Miseria.The Lorenz curvefor wealth wouldA)intersect the horizontal axis at 10()percent.B)bow outward more to the right than does the Lorenz curve for income.C)lie parallel to the line of equality.D)become flatter as one moves from left to right.Answer:BTopic:Lorenz CurveSkill:AnalyticalQuestion history:Previous edition,Chapter 19AACSB:Analytical Skills37)The above table shows the distribution of wealth and income in Miseria.With respect toincome,the richest twenty percent of the population earnA)90 percent of the income.B)11 times as much as the poorest twenty percent.C)9 times as much as the poorest twenty percent.D)just as much as the second richest twenty percent.Answer:CTopic:Lorenz CurveSkill:AnalyticalQuestion history:Previous edition,Chapter 19AACSB:Analytical Skills38)The above table shows the distribution of wealth and income in Miseria.Ninety-five percentof the wealth is owned by what percent of the population?A)20 percentB)40 percentC)60 percentD)95 percentAnswer:BTopic:Lorenz CurveSkill:AnalyticalQuestion history:Previous edition,Chapter 19AACSB:Analytical ScillsVEO0C-o 62u0)UJddEo-nEnuCumulative percentage of households39)In the above figure,the straight line between the lower left comer and the upper right cornershowsA)perfect equality in income distribution.B)perfect inequality in income distribution.C)that wealth rises as income rises.D)that household size rises as income rises.Answer:ATopic:Lorenz CurveSkill:ConceptualQuestion history:Previous edition,Chapter 19AACSB:Analytical Scills40)In the figure above,income is most unequally distributedA)in Country A.B)in Country B.C)in Country C.D)in one of the nations,but without more information,it is not possible to determine in whichcountry income is distributed most unequally.Answer:CTopic:Lorenz CurveSkill:ConceptualQuestion hstory:Previous edition,Chapter 19AACSB:Analytical Scills41)In the figure above,incomeA)is most equally distributed in country A.B)is most equally distributed in country B.C)is most equally distributed in country C.D)is equally distributed in all three countries.Answer:ATopic:Lorenz CurveSkill:ConceptualQuestion history:Previous edition,Chapter 19AACSB:Analytical Scills42)In the figure above,in which country do the lowest-income 3()percent of households havethe highest fraction of the nations income?A)Country AB)Country BC)Country CD)It is impossible to answer the question without more information.Answer:ATopic:Lorenz CurveSkill:A
