An examination of the quintile distribution of before-tax household income data for 1970 and 2008 given in the table above suggests a trend of:
A. A greater equality in the distribution of income over the period
B. A greater inequality in the distribution of income over the period
C. Rising income levels for the upper-income groups
D. Falling income levels for the lower-income groups
B. A greater inequality in the distribution of income over the period
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Assume that a monopolist practices perfect price discrimination. The firm's marginal revenue curve will
A) be perfectly elastic. B) be equal to its demand curve. C) lie below its demand curve. D) be perfectly inelastic.
The purpose of convention is
A) to create a Nash game. B) to determine one equilibrium out of a multi-equilibrium situation. C) to offer multiple choices to players. D) all of these choices.
Voting rights in a corporation are held by the:
A. common stockholders. B. board of directors. C. preferred stockholders. D. corporate bondholders.
If, when recovering from an inflationary period, the inflation rate declines and the unemployment rate also declines, this could be the result of
A. aggregate supply decreasing at a faster rate than aggregate demand is increasing. B. aggregate supply decreasing at a faster rate than aggregate demand is decreasing. C. aggregate supply increasing at a slower rate than aggregate demand is decreasing. D. aggregate supply increasing at a faster rate than aggregate demand is decreasing.