When we compare shares of income earned by U.S. households over the past 40 years, which of the following statements about the distribution of income is true?
A) The percentage of total income represented by each quintile has increased.
B) The percentage of total income represented by each quintile has decreased.
C) The largest gain in income percentage is in the top 5% of households.
D) Lower-income households gained at the expense of higher-income households.
C
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Sophisticated theoretical arguments supporting import-substitution policies include
A) terms of trade effects. B) scale economy arguments. C) learning curve considerations. D) the problem of appropriability. E) domestic market failure arguments.
Because these securities are more liquid and generally have smaller price fluctuations, corporations and banks use the ________ securities to earn interest on temporary surplus funds
A) money market B) capital market C) bond market D) stock market
A "Credible Threat"
A) is also called a "tit-for-tat" strategy. B) always set a low price. C) minimizes the return of your opponent. D) is a strategy selection that is in your best interest. E) provides the best return for both players.
The period of growth in real GDP between the trough of the business cycle and the next peak is called the:
a. recessionary phase. b. recovery phase. c. contractionary phase. d. cyclical phase.