It would be more reasonable to use annual income data as an index of economic inequality if all of the households
a. filed tax returns and thus all their income were known.
b. were different with regard to their age and size characteristics.
c. were more similar with regard to size, age, education, and other major factors that are linked to income.
d. were more similar with regard to their hair color, height, and weight.
C
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Corrina just graduated from college, is unemployed, and looking for her first real job. This is an example of
A) frictional unemployment. B) structural unemployment. C) seasonal unemployment. D) cyclical unemployment.
A country currently is using all its land to produce wheat and grapes. However, the land most suited to growing grapes is being used to produce wheat, and the land most suited to growing wheat is being used to produce grapes. Which of the following statements is true?
a. The country is operating outside of its production possibilities frontier. b. The country is operating along its production possibilities frontier. c. Wheat production must be sacrificed if the country increases grape production. d. Grape production must be sacrificed if the country increases wheat production. e. The country is operating inside its production possibilities frontier.