According to the statistics, the distribution of money income:
a. fluctuated widely since 1947.
b. changed significantly in favor of the bottom 5 percent.
c. has not changed greatly since 1947.
d. has not changed greatly since 1929.
c
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Recessions occur because of
A) difficulties in coordinating economic affairs. B) shocks to technology. C) real adverse shocks to the economy. D) all of the above.
What is a necessary condition for being categorized as unemployed?
A) Being homeless B) Actively searching for a job C) Having no source of income D) Having no hope of finding a job in the foreseeable future
Which of the following best describes a typical business cycle?
A) Economic expansions are followed by economic contractions. B) Inflation is followed by unemployment. C) Trade surpluses are followed by trade deficits. D) Stagflation is followed by inflationary economic growth.
A stock has an annual dividend of $10.00 and it is expected not to grow. It is believed the stock will sell for $100 one year from now, and an investor has a discount (interest) rate of 6% (0.06). The dividend discount model predicts the stock's current price should be:
A. $103.77 B. $94.67 C. $106.60 D. $116.00