2010ps_chpt4 - 2010ps_chpt4 Student 1 Income data that show...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
2010ps_chpt4 Student: ___________________________________________________________________________ 1. Income data that show the percentage of total income received by each fifth of all households describe the: A.functional distribution of income. B.horizontal distribution of income. C.personal distribution of income. D.vertical distribution of income. 2. The personal distribution of income in the United States is such that the richest fifth receives about _____ percent of personal income. A.30 B.40 C.50 D.60 3. The distribution of income among the owners of land, labor, capital, and entrepreneurial ability is known as: A.income differentials. B.the personal distribution of income. C.the functional distribution of income. D.the concentration ratio. 4. Other things equal, a rapid rise in profits relative to other types of income would affect: A.the functional distribution of income only. B.the personal distribution of income only. C.both the functional and personal distributions of income. D.the relative size of the public sector. 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Listed in descending order of relative size, total consumption spending is comprised of: A.nondurable goods, durable goods, and services. B.services, nondurable goods, and durable goods. C.services, durable goods, and nondurable goods. D.durable goods, nondurable goods, and services. 6. What unusual event happened to U.S. households in 2005? A.Total payments of personal taxes exceeded consumption expenditures. B.Personal saving exceeded personal taxes. C.The rate of personal saving was negative. D.Households allocated equal percentages of their incomes to consumption, personal taxes, and personal saving. 7. In economics, a business establishment that owns one or more plants is called a(n): A.industry. B.shop. C.conglomerate. D.firm. 8. A firm that produces a single product but owns plants in many different stages of the production process- for example, a steel producer that owns iron ore mines and rolling mills-best illustrates a: A.vertically integrated firm. B.multinational corporation. C.virtual corporation. D.conglomerate. 9. The division of U.S. businesses into the categories of proprietorships, partnerships, and corporations is based on: A.generally accepted accounting principles. B.legal considerations. C.the judgment of the American Economic Association. D.an executive order of the President.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/29/2010 for the course EDUCATION 111 taught by Professor Jones during the Spring '10 term at Bowling Green.

Page1 / 8

2010ps_chpt4 - 2010ps_chpt4 Student 1 Income data that show...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online