According to economist Emmanuel Saez, between 1993 and 2010, the incomes of the richest 1 percent grew by ________, and the other 99 percent grew by ________ on average.
A. 5.8 percent; 64 percent
B. 58 percent; 6.4 percent
C. 58 percent; 64 percent
D. 5.8 percent; 6.4 percent
Answer: B
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When comparing a permit trading system to the use of a pollution charge
a. a permit trading system requires more government intervention because the government must determine the permit price b. a permit trading system is inflexible because the number of permits cannot be adjusted c. a pollution charge generates revenue for the government on all units of pollution not abated d. pollution charges might create pollution hot spots
The World Bank formed the World Trade Organization when it became clear that to alleviate poverty in developing nations, agricultural trade barriers were going to have to be reduced
Indicate whether the statement is true or false
The Solow residual is a measure of
A) average labor productivity. B) average capital productivity. C) total factor productivity. D) the rate of growth of real GDP.
If it is difficult to substitute for a good in the short run, but easy in the long run, then
A) the elasticity of demand is more elastic in the short run. B) the elasticity of demand is more elastic in the long run. C) the good is an inferior good. D) elasticity changes along the demand curve.