The above table shows the distribution of income and wealth in Miseria. What percent of income is earned by the richest 40 percent of the population?
A) 20 percent
B) 30 percent
C) 55 percent
D) 70 percent
D
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An increase in demand is represented graphically by a rightward shift of the demand curve
Indicate whether the statement is true or false
What is the slope of the line in the graph?
A) +1/2 B) -1/2 C) +2 D) -2 E) -3/4
Government deficit financing is made easier by a rise in inflation when inflation ________ the private sector's demand for high-powered money, which the government can ________
A) lowers, create and spend B) lowers, obtain through taxation C) raises, create and spend D) raises, obtain through taxation
When the market price is held above the competitive level, the deadweight loss is composed of:
A) producer surplus losses associated with units that used to be traded on the market but are no longer exchanged. B) consumer surplus losses associated with units that used to be traded on the market but are no longer exchanged. C) producer and consumer surplus losses associated with units that used to be traded on the market but are no longer exchanged. D) There is no deadweight loss if the government uses a price floor policy to increase the price.