Test Bank for Foundations of Microeconomics, 9th Edition by Bade (All Chapters included)
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Foundations of Microeconomics 9e Bade
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Foundations Of Microeconomics 9e Bade
Complete Test Bank for Foundations of Macroeconomics, 9th Edition by Robin Bade, Michael Parkin ; ISBN13: 9780136713678...(Full Chapters included and organized in reverse order from Chapter 20 to 1)...1.Getting Started
2.The US and Global Economies
3.The Economic Problem
4.Demand and Supply
5.E...
Foundations of Microeconomics, 9th
Edition by Robin Bade
Complete Chapters Test Bank
are included (Ch 1 to 20)
** Immediate Download
** Swift Response
** All Chapters included
,Table of Contents are given below
1.Getting Started
2.The US and Global Economies
3.The Economic Problem
4.Demand and Supply
5.Elasticities of Demand and Supply
6.Efficiency of Fairness and Markets
7.Government Actions in Markets
8.Taxes
9.Global Markets in Action
10.Externalities
11.Public Goods and Common Resources
12.Private Information and Healthcare Markets
13.Consumer Choice and Demand
14.Production and Cost
15.Perfect Competition
16.Monopoly
17.Monopolistic Competition
18.Oligopoly
19.Markets for Factors of Production
20.Economic Inequality
,The test bank is organized in reverse order, with the last chapter displayed first, to ensure that
all chapters are included in this document. (Complete Chapters included Ch20-1)
Foundations of Microeconomics, 9e (Bade)
Chapter 20 Economic Inequality
20.1 Measuring Economic Inequality
1) In the United States, the poorest 20 percent of the household receive approximately ________
percent of total money income.
A) 3.1
B) 9.5
C) 11.8
D) 17.6
E) 20.0
Answer: A
Topic: Inequality in the United States, income
Skill: Level 1: Definition
Section: Checkpoint 20.1
Status: Revised
AACSB: Reflective thinking
2) In the United States, the richest 20 percent of households receive approximately ________
percent of total money income.
A) 33
B) 12
C) 50
D) 75
E) 20
Answer: C
Topic: Inequality in the United States, income
Skill: Level 1: Definition
Section: Checkpoint 20.1
Status: Old
AACSB: Reflective thinking
3) In the United States, the poorest 20 percent of households receive about ________ percent of
total money income while the richest 20 percent receive about ________ percent of total money
income.
A) 3; 50
B) 8; 71
C) 12.; 32
D) 13; 68
E) 20; 20
Answer: A
Topic: Inequality in the United States, income
Skill: Level 2: Using definitions
Section: Checkpoint 20.1
Status: Old
AACSB: Reflective thinking
1
, 4) Which of the following statements is TRUE regarding the distribution of income in the United
States?
A) The Lorenz curve shows that incomes are distributed fairly.
B) The line of equality shows that incomes are distributed equally.
C) The inequality in the distribution of income can be seen because the Lorenz curve lies below
the line of equality.
D) The inequality in the distribution of income can be seen because the Lorenz curve lies above
the line of equality.
E) Both answers A and B are correct.
Answer: C
Topic: Inequality in the United States, income
Skill: Level 3: Using models
Section: Checkpoint 20.1
Status: Old
AACSB: Reflective thinking
5) In 2013 the wealthiest 1 percent of all U.S. households owned what percentage of total
wealth?
A) about 37 percent
B) less than 10 percent
C) about 46 percent
D) more than 50 percent
E) about 14 percent
Answer: A
Topic: Inequality in the United States, wealth
Skill: Level 1: Definition
Section: Checkpoint 20.1
Status: Revised
AACSB: Reflective thinking
6) As a tool that is used to measure inequality in the distribution of income, the Lorenz curve
graphs
A) the cumulative percentage of money income against the cumulative percentage of households.
B) the percentage of total money income received by each given percentage of households.
C) the mean income, median income, and mode income against the percentage of households.
D) the mean money income received by households over time.
E) the cumulative percentage of money income against the mean and median money income.
Answer: A
Topic: Lorenz curve
Skill: Level 1: Definition
Section: Checkpoint 20.1
Status: Old
AACSB: Reflective thinking
2
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