According to the textbook, income inequality statistics can be misleading because
A) they are collected by the Census Bureau, whose objectivity cannot be trusted.
B) they ignore the income mobility of individual families and households through time.
C) they do not take into account inflation.
D) they fail to be of use in policy proposals and debates.
Answer: B) they ignore the income mobility of individual families and households through time.
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The law of demand concludes that a rise in the price of a golf ball ________ the quantity demanded and ________
A) increases; shifts the demand curve for golf balls rightward B) decreases; shifts the demand curve for golf balls leftward C) decreases; creates a movement up along the demand curve for golf balls D) increases; creates a movement down along the demand curve for golf balls
Developing countries may have excess savings in one region and inadequate savings in another due to
a. interest rate ceilings b. fragmented markets c. inflation d. financial deepening e. all of the above