Which of the following was true regarding conventionally measured income inequality in the U.S. during 1968 to 2007?
A. The income share of the top 1% of income earners tripled over this period.
B. There was a steady decline in the income share of the top 5% of income earners during this period.
C. The income share of the top 25% of income earners remained below 60% during 1968-2007.
D. The conventional measure of income inequality showed that it was significantly low during this period compared to any other time period.
Answer: A
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The short-run aggregate supply curve in modern Keynesian analysis
A) is a horizontal line the same as in the Keynesian model. B) is a vertical line the same as in the classical model. C) is an upward sloping curve. D) is a negatively sloped curve.
If on Monday you can buy 13 Mexican pesos per U.S. dollar and on Wednesday you can buy 15 Mexican pesos per U.S. dollar,
a. both the U.S. dollar and the Mexican peso have appreciated b. both the U.S. dollar and the Mexican peso have depreciated c. the U.S. dollar has appreciated and the Mexican peso has depreciated d. the U.S. dollar has depreciated and the Mexican peso has appreciated e. the Mexican peso has appreciated and the U.S. dollar has remained constant
U.S. imports are:
A. U.S. goods sold to foreigners. B. Foreign goods bought by Americans. C. U.S. goods sold to Americans. D. Foreign and U.S. goods sold to foreigners, but consumed in the U.S.
Collusion is:
A. the act of firms working together to make decisions about price and quantity. B. buyers acting in unison against a company in efforts to change its practices. C. the act of firms undercutting one another in competition until zero profits are earned. D. None of these statements is true.