One reason some economists are critical of the Lorenz curve is because
A) it reflects income before taxes.
B) it reflects income after taxes.
C) it reflects only the top bracket of taxpayers.
D) it reflects only the poor in the country.
A
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A consequence of the CPI bias is that it
A) decreases government outlays. B) reduces outlet substitution bias. C) means that it is impossible to measure the inflation rate. D) increases international trade. E) distorts private contracts.
If most shocks to the economy are ________ shocks, then ________
A) aggregate demand; inflation stabilization policy will also stabilize activity in the short-run B) permanent aggregate supply; inflation stabilization policy will also stabilize activity in the short-run C) temporary aggregate supply; inflation stabilization policy has no impact on economic activity in the long-run D) all of the above E) none of the above