If incomes were equally distributed in the United States, each fifth of the population would receive ____ percent of the income.
A. 5
B. 10
C. 15
D. 20
Answer: D
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The invisible hand is mostly guided by:
A) costs of production. B) quantity of goods and services sold. C) market prices. D) government intervention.
Supply is elastic whenever the value of the elasticity of supply is positive and greater than 1
Indicate whether the statement is true or false
Which of the following strategies is not an effective strategy to reduce monopoly inefficiency?
a. antitrust laws b. price discrimination c. doing nothing d. breaking up a natural monopoly into more than one firm
Technology firms are clustered near each other ______.
a. because federal regulation require them to do so b. to contain negative externalities in one area c. to be close to deposits of natural resources d. in order to share technology and collaborate