Which of the following is NOT a correct criticism of the Lorenz curve?
A) It does not include payments in kind.
B) It does not deal with differences in family size.
C) It ignores the impact of age distribution on income distribution.
D) It refers to money income after taxes.
Answer: D
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Scott's Painting Company paints houses. Since Scott's business does not have the name recognition of some of the bigger painting companies, Scott advertises a "Five-Year Money Back Guarantee" to indicate to buyers that his service is of high quality. This guarantee is an example of
a. screening. b. signaling. c. the seller's curse. d. the principal-agent problem.
The figure below illustrates the impact of an export subsidy as imposed by a large country. No imports are permitted.
The cost to the government of the indicated export subsidy is shown by area(s)
A. (a + b + c + d + e + f + g + h + i + j) B. (c + h) C. (b + c + d + f + g + h + i + j) D. (b + c + d)