Which of the following statements is true?
A. The income of the bottom fifth of families rose 10 percent from 1970 to today.
B. The income of the bottom fifth of families fell 10 percent from 1929 to today.
C. Income distribution became less equal from 1929 to 1970.
D. Income distribution became less equal from 1970 to today.
Answer: D
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Refer to the accompanying figure.
An economy in short-run equilibrium at point A has a(n) ________ gap. The gap could be eliminated by the self-correcting mechanism of the economy and eventually achieve long-run equilibrium at point ________ or the central bank could intervene with monetary easing establishing the long-run equilibrium at point ________.
A. recessionary; C; B B. expansionary; C; B C. expansionary; B; C D. recessionary; B; C
One objection to a competitive and legal market for human organs for transplant is that it would:
A. Decrease the cost of organs for transplant B. Increase the cost of organs for transplant C. Decrease the supply of organs for transplant D. Increase the demand for organs for transplant
Wants are
A. the things people would consume if they had unlimited incomes. B. the things people consume with their income. C. all the things people really need in order to live comfortably. D. another term for needs.
Suppose there is no inflation, and the current interest rate is 5% per year. Sarah plans to open a savings account and deposit $100 annually for the next 14 years. At the end of the period, the balance of her savings account will be
A) 100(1.0514 - 1). B) 2000(1.0514 - 1). C) 2000(1.0512 - 1). D) 20(1.0512 - 1).