Based on the table showing income inequality in the United States, from 1950 to 1980, the distribution of income in the United States ______.









a. changed erratically

b. remained more or less stable

c. dramatically shifted to favor lower earners

d. dramatically shifted to favor higher earners


b. remained more or less stable

Economics

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The most important factor contributing to wage differences in the labor market is differences in the level of education and training among workers

Indicate whether the statement is true or false

Economics

The demand for labor is a derived demand. Employers hire workers until the

a. wage rate equals the average product of labor. b. wage rate equals the marginal revenue product of labor. c. last worker hired adds nothing to total output. d. average product of labor is zero.

Economics

Which of the following is not a result of a higher federal budget deficit?

A) a higher real interest rate B) a depreciation of the currency C) a fall in exports D) a fall in the price of foreign inputs

Economics

The impact of expansionary fiscal policy is weakened because of crowding out.

a. true b. false

Economics