The income distribution in the United States shows that the income share of the top fifth of all families is
a. over 60 percent.
b. around 21 percent.
c. more than 12 times the income of the bottom fifth.
d. less than 10 times the income of the bottom fifth.
c
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Which of the following is an example of an intermediate good or service?
A) gasoline purchased by Sam for her commute to work B) flour purchased by Jake to bake a cake for his spouse C) training seminars for employees of an accounting firm D) golf balls sold to Tiger Woods E) None of the above are examples of intermediate goods or services.
Imagine that you borrow $5,000 for one year and at the end of the year you repay the $5,000 plus $600 of interest. If the inflation rate was 4%, what was the real interest rate you paid?
A) 16 percent B) 12 percent C) 8 percent D) 6 percent
An increase in the unemployment rate which is accompanied by a decrease in the inflation rate is represented by a ________ the Phillips curve
A) movement down B) movement up C) upward shift of D) downward shift of
Industrial market countries make up about _____ of the world population but produce more than _____ of the world's output
a. 16 percent; 50 percent b. 40 percent; 75 percent c. 40 percent; 58 percent d. 55 percent; 65 percent e. 38 percent; 55 percent