The percentage share of income of the top quintile on curve X is
A. 27.
B. 45.
C. 55.
D. 73.
B. 45.
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An increase in which of the following variables will cause a reduction in the demand for domestic goods?
A) foreign income B) the real exchange rate C) consumer confidence D) domestic income E) all of the above
One explanation for the sharp decline in inventory investment during the 2007-2009 financial crisis was ________
A) financing constraints B) the rise in the level of income C) the volatility of interest rates D) the increase in total spending and therefore costs
The two-period dynamic monopoly model is more useful than the static monopoly model in analyzing monopoly behavior when
A) the product produced requires a bandwagon effect. B) the product produced generates a positive network externality. C) the monopoly initially uses a lower introductory price. D) All of the above situations.
The middle class in China:
A. outnumbers the entire population of the United States. B. is about half the size of the population of the Germany. C. is almost equal in size to the entire population of the California. D. None of these is true.