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2. The productivity – and associated wealth – of an individual is a function of
A. choices the individual makes regarding effort
B. fixed factors like innate ability and family upbringing
C. factors that are typically not distributed evenly across the population.
D. All of the above.
3. “Income would be equal across the population if all individuals exerted equal effort”.
True or false?
4. The top 10% of Canadian families earn approximately
A. 10% of total Canadian income.
B. 17% of total Canadian income.
C. 21% of total Canadian income.
D. 28% of total Canadian income.
5. “Canada has one of the least equal distributions of income in the world”. True or false?
B. False. 35 6. Income redistribution cannot be based exclusively on fixed factors like innate ability
A. innate ability is not easily observed.
B. innate ability cannot be inferred from income because effort is unobservable.
C. Both A and B.
D. None of the above.
7. Income redistribution based on income levels distorts incentives to create wealth
A. the individ...
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- Spring '14