From 1970 to 2006, average real income for the top 5% of U.S. households
A) decreased by more than 10%.
B) remained virtually unchanged.
C) increased by about 5%.
D) almost doubled.
D
You might also like to view...
The most established theory of stock prices relates a company's asset prices to:
A) future earning prospects of companies and future values of inflation rates. B) the future value of inflation and interest rates. C) past earnings of companies and past values of interest rates. D) future earning prospects of companies and future values of interest rates.
You are closely following the elections in your country this year
The two main candidates who are running for president belong to the two biggest parties that are on opposing ends of the political spectrum—the Conservative Right and the Left Alliance. There are also a few independent candidates. You have decided that you will cast your vote depending on each candidate's stance on various issues like foreign policy, gun rights, taxes, gay marriage, and healthcare. As the campaigns heat up, you notice that the viewpoints expressed by both parties seem to converge to the center rather than being extreme left or right opinions. Given that the candidate with the highest number of votes wins the elections, what do you think could explain this convergence?
_____ when net taxes are reduced.
What will be an ideal response?
Medicare subsidies will cause people to
A) perceive the price they pay per unit of medical services to be lower than the price received by the provider. B) perceive the price they pay per unit of medical services to be higher than the price received by the provider. C) perceive the price they pay per unit of medical services to be exactly equal to the price received by the provider. D) demand fewer services.