According to the National Journal, the rise in two-career high-earning couples alongside the rise of ________________ accounts for roughly half of the rise in income inequality across households in recent decades.
a. single-parent households
b. minimum-wage jobs
c. workers being replaced by robots
d. fewer young people attending college
a. single-parent households
According to data in the National Journal, even as two-earner couples have increased, so have single-parent households. These changes in family structure, including the growth of single-parent families who tend to be at the lower end of the income distribution, and the growth of two-career high-earner couples near the top end of the income distribution, account for roughly half of the rise in income inequality across households in recent decades.
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The velocity of money
A) is, according to the equation of exchange, equal to M/Y. B) indicates the number of times per year a dollar is spent on final goods and services. C) is, according to the equation of exchange, equal to P/M. D) indicates the speed with which the U.S. Treasury can mint new coins.
The equilibrium real interest rate is the rate ________
A) at which the output gap is zero B) at which the inflation rate is low C) controlled by the central bank D) all of the above E) none of the above
In the diagram, the economy's short-run AS curve is line ___ and its long-run AS curve is line ___.
A. 1; 3
B. 2; 4
C. 3; 4
D. 2; 1
Rent seeking ________
A) increases consumer surplus B) occurs only when the firm practices perfect price discrimination C) increases deadweight loss D) results in a larger output than a competitive industry would produce