In the United States, income is more equally distributed than measured wealth. (True or false?)

In the United States, income is more equally distributed than measured wealth.
 
  Indicate whether the statement is true or false

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Ques. 2

Explain what the fallacy of composition is and give an example.
 
  What will be an ideal response?

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Ques. 3

A change in a person's money income changes real income and therefore changes the slope of the person's budget line.
 
  Indicate whether the statement is true or false

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Ques. 4

Suppose that recycling rubber for sneakers creates an external benefit of 2.00 per ton of rubber. There are no external costs. The efficient amount of rubber will be recycled when the government creates a
 
  A) subsidy of more than 2.00 per ton of rubber.
  B) subsidy of 2.00 per ton of rubber.
  C) tax of more than 2.00 per ton of rubber.
  D) tax of 2.00 per ton of rubber.

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Ques. 5

A worker has a marginal product of 15 units a day, each of which can be sold for 10. Is it profitable to hire this worker if the wage rate is 100 a day? Briefly explain your answer.
 
  What will be an ideal response?

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Ques. 6

All the production points that lie above the total product curve are inefficient.
 
  Indicate whether the statement is true or false

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Ques. 7

The figure above shows the costs and demand curves for the Bigshow Cable Company. Bigshow Cable Company incurs an economic loss if the regulator set its price at
 
  A) 8.
  B) 6.
  C) 4.
  D) None of the above prices force Bigshow to incur an economic loss.

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Ques. 8

An increase in income equality causes the Lorenz curve to become more bowed away from the line of equality.
 
  Indicate whether the statement is true or false

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Ques. 9

If crime rates in the United States fall, can incumbent lawmakers rightfully claim credit? Why or why not?
 
  What will be an ideal response?