According to the H-S definition of income, employer contributions are excluded from money income.
A. True
B. False
C. Uncertain
A. True
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When the price of a good rises, the resulting change in quantity demanded due solely to the decline in your income's purchasing power is called the
a. Giffen-good phenomenon. b. law of demand. c. substitution effect. d. income effect.
The technology boom that began in the 1990s has helped increase the average real incomes of households in all five U.S. quintiles
Indicate whether the statement is true or false
In the simultaneous move labor negotiation game:
a. Neither party prefers bargaining hard in the Nash equilibrium b. Both the parties want to end up in the least efficient outcome c. Both parties bargain hard in the Nash equilibrium d. Both parties want to stay in the prisoner's dilemma
Two of the biggest changes in income distribution in the United States since 1980 are ______.
a. a drop in the lowest quintile and a rise in the highest quintile b. a drop in the highest quintile and a rise in the lowest quintile c. a drop in the lowest and highest quintiles d. a rise in the lowest and highest quintiles