The wealthiest 10 percent of the population owns about
A) 15 percent of all the wealth in the United States.
B) 50 percent of all the wealth in the United States.
C) 75 percent of all the wealth in the United States.
D) 95 percent of all the wealth in the United States.
Answer: C
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During the Middle Ages, heretics were often burned at the stake. Were the heretics violating the assumption of rational self-interest? Explain
What will be an ideal response?
Which of the following will be recorded as a credit entry in the U.S. balance of trade in merchandise account?
a. A U.S. car manufacturer selling a car to a resident of India. b. A French wine manufacturer selling wines to a distributor in Seattle. c. A U.S. investor investing in Japanese stocks. d. A U.S. steel manufacturer importing iron ore from Zambia. e. A U.S. resident buying diamonds from a diamond manufacturer in Kenya.
Which of the following occurs if government intervention forces the economy inside the production possibilities curve?
A. Market failure. B. Government failure. C. Income inequality. D. Externalities.
The ways in which the global financial and economic crisis of the 2000s resembles the crises in developing countries in the 1980s and 1990s include all of the following EXCEPT
A. Contagion made the crisis worse B. Borrowers relied on short-term funding C. Fixed exchange rates encouraged financial activity exposed to exchange-rate risk D. Overlending and overborrowing played a key role