From 1989 to 2013, the share of wealth for the bottom 90% of wealth holders in the United States
A. increased by almost 10 percentage points.
B. increased by more than 45 percentage points.
C. remained roughly the same.
D. decreased by about 8 percentage points.
Answer: A
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Suppose the government has declared beer to be an illegal substance and has imposed penalties on any person caught buying a beer. Selling a beer, however, remains legal
Using the above figure, in which CBL is the cost of breaking the law, beer consumption is decreased by A) 200 quarts. B) 300 quarts. C) 400 quarts. D) 500 quarts.
If we include consideration of potential effects of a proposed tax reduction and simplification on the labor supply, we would expect crowding out of investment and net exports brought about by the tax cut to be
A) increased as aggregate real income and output rise in the long run. B) unaffected by the shifting long-run aggregate supply curve. C) dependent upon the impact of this tax change on consumer disposable income. D) less than it would be without the supply-side effects.
Refer to Figure 24-1. Ceteris paribus, a decrease in firms' expectations of the future profitability of investment spending would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
The slope of a demand curve is almost always
a. positive, because when people buy more of a good the cost of producing it will rise. b. positive, because the more money a person has, the more of a particular good will be bought. c. negative, because when people buy more of a good the cost of producing it will fall. d. negative, because with everything else equal, the same people will buy more of a good when its price is lower. e. positive, because as the price rises, people want to sell more of the good.