What is the percentage of income received by the upper quintile on line Y?
30
You might also like to view...
The working-age population consists of all the people in the population
A) aged 16 and over. B) aged 16 to 65. C) aged 16 and over who are not in jail, hospital, or an institution or in the U.S. Armed Forces. D) aged 21 and over who are not in jail, hospital, or an institution or in the U.S. Armed Forces. E) who are employed plus the unemployed people.
When Little Furniture Company produces 100 chairs - its average variable cost is $25 . The marginal cost of the 101st chair is $22 . If the firm chooses to produce the 101st chair, what will happen to average variable cost? Explain
What will be an ideal response?
Suppose a small island nation imports sugar for its population at the world price of $1,500 per ton. The domestic market for sugar is shown below.
If the government provides a subsidy of $500 per ton, then producer surplus will be ________ per day.
A. $1,000 B. $8,000 C. $4,000 D. $0
Double counting can be avoided by using the value-added approach when calculating GDP.
Answer the following statement true (T) or false (F)