Solved by verified expert :51)
The majority of the income earned in the United States is paid in
A)
rent.
B)
wages.
C)
interest.
D)
profit.
E)
dividends.
52)
The personal distribution of income measures which of the following?
A)
How federal tax revenues are related to the type of businesses that employs the
taxpayers.
B)
The distribution of earnings by the factors of production.
C)
Proportion of income generated by the four types of expenditures on goods and
services.
D)
The distribution of income among households.
E)
The distribution of income among nations.
53) In the
United States, the poorest 20 percent of households earn roughly ________
percent of total income.
A) 20
B) 10
C) 15
D) 3
E)
0.5
54)
The personal distribution of income in the United States shows that
A)
income is equally distributed.
B)
the poorest 20 percent of individuals receive approximately 20 percent of total
income.
C)
the richest 20 percent of individuals receive approximately 50 percent of total
income.
D)
the poorest 60 percent of individuals receive approximately 50 percent of total
income.
E)
the richest 20 percent of individuals receive approximately 25 percent of total
income.
55)
The richest 20 percent of individuals in the United States receive about
________ of the nation’s total income.
A)
21 percent
B)
51 percent
C)
91 percent
D)
99 percent
E)
23 percent
56)
When the total U.S. production of goods and services is divided into
consumption goods and services, capital goods, government goods and services,
and export goods and services, the largest component is
A)
consumption goods and services.
B)
capital goods.
C)
government goods and services.
D)
export goods and services.
E)
capital goods and government goods and services tie for the largest component.
57)
An example of a capital good is
A)
a fiber optic cable TV system.
B)
an insurance policy.
C)
a hair cut.
D)
an iPod.
E)
a slice of pizza.
58)
Goods and services produced in the United States and sold in other countries
are called
A)
consumption goods and services.
B)
capital goods.
C)
government goods and services.
D)
export goods and services.
E)
import goods and services.
59)
Which of the following correctly lists the categories of factors of production?
A)
machines, buildings, land, and money
B)
hardware, software, land, and money
C)
capital, money, and labor
D)
owners, workers, and consumers
E)
land, labor, capital, and entrepreneurship
60)
In economics, the factor of production “land” includes all of the
following EXCEPT ________.
A)
energy
B)
plastics
C)
wild plants
D)
animals, birds, and fish
E)
oil
