What is the percentage of income received by the upper quintiles on line K?
45
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Other things held constant, higher saving rates lead to
A) increases in the number of hours workers work. B) decreases in real per capita GDP. C) a lower standard of living. D) higher living standards.
Which of the following is an example of an inverse relationship?
A) hours of study and test grade B) calories eliminated from diet and weight loss C) beers consumed while studying and test grade D) amount of snowfall and profits of ski resorts
On a graph of production costs, the vertical distance between the fixed cost curve and the total cost curve at a specific quantity represents
a. variable cost b. average variable cost c. average total cost d. average fixed cost e. marginal cost
Suppose you hold $5,000 in cash when the interest rate on bonds is 4 percent. Other things equal, as the bond interest rate declines to 3 percent, you will want to hold more money because the opportunity cost of holding money has decreased
a. True b. False Indicate whether the statement is true or false