1.If Country M has less income inequality than Country N, which of the following must be true?

a. It could be said that Country M will essentially have a higher Gini coefficient than Country N.

b. It could be said that Country M will have greater wealth overall.

c. Country M will have more individuals in poverty than in Country N.

d. It could be said that Country M will essentially have a lower Gini coefficient than Country N.

e. It could be said thatCountry N will have greater wealth overall.

f. A and C.

g. Indeterminate.

2.Determine which of the following answer choices / scenarios listed below best exemplify a non-rivalrous and non-excludable good?

a.Tornado warning siren

b. One uncongested lake in a place where people can fish

c.One wireless internet service with password protection overall

d.One pair of shoes produced by a popular brand

e. An online newspaper that requires a subscription to have access

f. C and E.

G. Indeterminate

3.Determine / select a reason for increased income inequality from the answer choices listed below ?

a. Overall structure of the labor union is reorganized in such a way that their bargaining power is increased significantly overall.

b.Decrease in the productive capacity of capital happens, in a way that wages and salaries are instead paid to an improving labor force.

c.In society, individuals do not begin with the same human social capital, capital, and / or bargaining power.

d.The market wages are going up, under this means, the unemployed are incentivized to find a job overall.

e.The taxes on earnings are collected every year, and at the end, the amount of this per worker is based on a progressive calculation essentially.

f. A and E.

g. None of the above.

4.Determine why do private businesses underproduce public goods?

a.Since it could be said that they are excludable, and so there are too few consumers that desire to buy this good.

b.Since it could be said that they are non-excludable, and so it is hard to earn profits by making this good.

c.Since it could be said that they are rivalrous, and so only one producer can supply the good essentially.

d.Since it could be said that they are non-affordable, there are no consumers that want to purchase the good.

e.Since it could be said that because they want to reduce their income gained and they do not want to do nothing at all to fix the issue.

f. Since it could be said that they are non-rivalrous, and so market power will limit output of the good as a whole.

g. None of the above.

5.Analyze the graph below and answer the question that follows: