8. measuring income inequality every year, the u. s. census bureau conducts an income survey of about 60,000 american families that are carefully selected to represent the whole population. the data collected are used to measure income inequality. which of the following is a reason that census data may overstate income inequality? census data count all cash and noncash transfers as income. in-kind transfers, such as food stamps, medicaid, and housing assistance, are not counted as income. census figures record after-tax rather than before-tax income.

The market for corn in country a is highly competitive. at the current market price of $5/bushel there is a shortage of 100,000 bushels of corn in this country. media reports claim that the price of corn will rise drastically in the near future. according to these reports, the neighboring country b had witnessed a similar situation recently. at the same price, the shortage in country b was also 100,000 bushels and eventually the equilibrium price in b went up to $10/bushel. both countries are known to have equal number of corn producers and the market supply of corn is identical at all prices. this, combined with the fact that consumers in the two countries also have similar tastes and preferences, led the media to conclude that the price of corn in country a would soon be as high as $10/bushel. the new equilibrium price turns out to be below $10/bushel, what inferences can be drawn?

Which of the following is a problem for the production of public goods?

You speak to a business owner that is taking in almost $2000 in revenue each month. the owner still says that they are having trouble keeping the doors open. how can that be possible? use the terms of revenue, expenses and profit/loss in your answer