Test Questions without Answers
Chapter 18. Markets and the Government II. Microeconomic Policy and Equity
Chapter 18–Question 1
When comparing Lorenz curves, how can you see at one glance in which of the countries income distribution is most unequal?
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Chapter 18–Question 2
How is the Gini coefficient calculated?
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Chapter 18–Question 3
Below you find a chart with the distribution of money incomes among US households in 2005. *
| Income Class of Households | Percentage of All Households in This Class | Percentage of Total Income Received by Households in This Class | Cumulative Percentage of Incomes |
| Lowest fifth | 3.4 | ||
| Second fifth | 8.6 | ||
| Third fifth | 14.6 | ||
| Fourth fifth | 23.0 | ||
| Highest fifth | 50.4 | ||
| 100.0 |
Please add the figures in the first and third columns.
Chapter 18–Question 4
Give six economics-related examples of government failure.
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Chapter 18–Question 5
Economists say that equity costs efficiency. How do they explain that?
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