In the United States, the top 20 percent of income earners earn:
A. just under 40 percent of total income.
B. over 70 percent of total income.
C. over 60 percent of total income.
D. just under 50 percent of total income.
Answer: D
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Mark loves ice cream. At any point in time, he will buy an additional ice cream cone if
A) the marginal benefit from it exceeds the price. B) the marginal benefit from it is zero. C) his willingness to pay is less than the price. D) there is no deadweight loss produced by his purchase of a cone. E) None of the above answers is correct.
The W = MRP ethic states that individuals are paid according to the value of their opportunity cost
Indicate whether the statement is true or false
Which of the following is true of the federal funds rate? a. An increase in the federal funds rate leads to an increase in other interest rates too
b. A decrease in the federal funds rate leads to an increase in other interest rates. c. A decrease in the federal funds rate discourages banks from lending funds to other banks. d. A decrease in the federal funds rate discourages banks from giving loans to the public.
When a business cycle is affected by international relations, new discoveries, and social or political changes, it is said to have been changed by __________ factors.
A. extraneous B. external C. internal D. intrinsic