Econ 450sp15 Practice Finals Answer Key - Econ450sp15 1 Practice MC Questions Each of 100 non-poor households has a marginal willingness to pay to make

Econ 450sp15 Practice Finals Answer Key - Econ450sp15 1...

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Econ450sp15 Practice MC Questions 1. Each of 100 non-poor households has a marginal willingness to pay to make transfers to poor households as given by the schedule 1100 Q MWTP where Q is the dollar transfer to the poor households. The efficient level of charity desired by non-poor households as a group is equal to a) zero b) $10 c) $99 d) $100 2. If non-poor households make voluntary contributions to charity, the total amount of charity will equal 3. Suppose we plot the Lorenz curves for two different countries on the same graph. Which of the following statements is true about the country for which the Lorenz curve is farthest from the equality line? 4. Which of the following statements about distribution of income in the United States is not accurate?
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  • Winter '08
  • Staff
  • Household income in the United States, Federal Insurance Contributions Act tax

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