C) The Lorenz curve does not consider different sizes of households.

41)Changes in the Lorenz curve since 1929 in the United States indicate that A) the distribution of income today is identical to what it was in 1929.

B) the distribution of income is slightly less equal today than in 1929. C) the distribution of income is slightly more equal today than in 1929.

D) the distribution of income is much more equal today than it was in 1929.

42)All of the following are criticisms of the Lorenz curve EXCEPT

A)The Lorenz curve does not include in-kind transfers.

B)The Lorenz curve does not account for age differences.

C)The Lorenz curve does not account for differences in the sizes of families.

D)The Lorenz curve does not account for differences in education levels.

43) Income in kind is defined as

A)income received in the form of a paycheck.

B)payment for services in the form of cash.

C)tips.

D)income received in the form of goods and services.

44) Income in the form of goods and services is

A)known as money income.

B)known as income in kind.

C)not considered income by economists.

D)not part of wealth.

45)All of the following are income in kind EXCEPT A) government provided housing.

B) government provided education. C) tips received by a waitress.

D) goods produced in the home.

46)All of the following are income in kind EXCEPT A) income received from family members.

B) services produced in the home.

C) government provided food stamps. D) government provided medical aid.

47)Which of the following is not a true statement about the Lorenz curve? A) The Lorenz curve includes both money income and income in kind.

B) The Lorenz curve does not include unreported income obtained from the underground economy.

C) The Lorenz curve does not consider different sizes of households.

D) The Lorenz curve does not consider age differences among wage earners.

48)Compared to the distribution of money income, the distribution of wealth is

A)about the same.

B)much more equal.

C)much less equal.

D)a little more equal.

49)The return on wealth (both human and nonhuman) is A) a stock variable.

B) income.

C) measured in the form of bonds.

D) a stock or flow variable depending upon whether the wealth is in the form of bonds or other financial assets.

50)Which of the following statements is true about income and wealth?

A)Income is a flow measure and wealth is a stock measure.

B)Income is a stock measure and wealth is a flow measure.

C)Both income and wealth are flow measures.

D)Both income and wealth are stock measures.

51)Wealth is measured as A) only tangible objects.

B) only buildings, machinery, land, cars, stocks and bonds. C) only nonhuman wealth.

D) nonhuman and human wealth.

52)When comparing the distribution of wealth to the distribution of income, it can be noted that A) the distributions are about the same.

Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.