If we compare income percentages of total income of the lowest quintile in 1968 with 2008, we would find that it was
A. rising.
B. staying about the same.
C. falling.
C. falling.
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If the long-run Phillips curve is vertical, then any government policy designed to lower
Which of the following is an example of physical capital?
a. the available knowledge on how to make semiconductors b. a taxi-cab driver's knowledge of the fastest routes to take c. bulldozers, backhoes and other construction equipment d. All of the above are correct.
Say's law explains
A. how long-term real Gross Domestic Product (GDP) stability is achieved in the classical model. B. why economies experience business cycles. C. how the economy can go into recession. D. how long-run real Gross Domestic Product (GDP) stability is achieved in the Keynesian model.
Refer to Figure 7.2. If Happy Times Theater charges one price to all customers, then that price will be
A. $10.00. B. $7.50. C. $6.25. D. Not enough information available.