In the modern U.S. economy, most transactions are made with
What will be an ideal response?
checking deposits.
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Based on the graphic showing the Lorenz Curve, if income distribution fell on the line of perfect income equality, what percentage of total income would the first 40 percent of households receive?
a. 3.8
b. 9.2
c. 13.0
d. 40.0
Among full-time U.S. workers, white women earn about _______ percent less than white men, and black men earn about ________ percent less than white men.
a. 5, 40 b. 20, 20 c. 20, 40 d. 5, 20
If the quantity of fishing poles demanded is represented by the demand equation QD = 60 - P, then to solve for the price of fishing poles, the equation would be rewritten as
A) P = -60 + QD. B) P = QD + 60. C) P = 0.6QD + 10. D) P = 60 - QD.
If the firm hires 5 workers, the average cost equals
a. $10 b. $1000 c. $80 d. Need more information