Typically, a country's population is divided into how many income groups to find a Lorenz Curve?
a. 1 or 2.
b. 5 or 10.
c. 10 or 20.
d. 25 or 50.
e. 100.
QUESTION 2Which of the following is not a problem associated with the U.S. federal budget process?
a. The congressional committee framework
b. The lengthy budget process
c. The failure to meet deadlines
d. The lack of detail in the budget
e. Uncontrollable budget items
QUESTION 3Economists look at which of the following to get a quick visual expression of income distribution?
a. Gini coefficient.
b. IRS records of how much income each household earned.
c. supply and demand curves for resources.
d. Lorenz curve.
e. surveys of business estimates for MRPs.
QUESTION 4A discouraged worker is one who:
a. is underqualified for his current job.
b. dislikes his current job but is afraid to quit.
c. drops out of the labor force because he cannot find a job.
d. quits his job because the possibility of advancement was very low.
e. is overqualified for his current job.
QUESTION 5A continuing resolution is:
a. an agreement that requires Congress to balance the budget on an annual basis.
b. an agreement that allows Congress to have too much control over the budgetary process.
c. an agreement that allows agencies to spend at the rate of the previous year's budget.
d. a decision made by congressional committee about the federal spending and revenue levels for five years.
e. a guaranteed benefit for those who qualify for government transfer programs.
QUESTION 6A Lorenz curve shows the:
a. number of people in an economy living below the poverty line.
b. percentage of children in an economy who are not receiving adequate nutrition.
c. percentage of the economy's population benefiting from government spending programs.
d. percentage of an economy's total income each part of the population receives.
e. percentage of the population whose income is dependent on sales to foreign countries.
QUESTION 7If top government officials claim that more people are working now than ever before, then which of the following is true?
a. The unemployment rate is lower now than ever before.
b. The number of people unemployed is lower now than ever before.
c. The employment rate is higher now than ever before.
d. The number of people in the labor force is higher now than ever before.
e. The number of people employed is higher now than ever before.
Quick Reply
