Suppose that Year 1 is the base year. The CPI for Year 2 is approximately
A) 100.0.
B) 135.0.
C) 170.0.
D) 240.0.
C
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The measured distribution of income today appears more unequal than in the 1950s partly because of: a. an increase in the rate of divorce
b. an increase in the number of two-income families. c. a reduction in the divorce rate. d. both (a) and (b).
State governments' main source of revenue is
a. property taxes. b. income taxes. c. excise taxes. d. sales taxes.
Which of the following is a characteristic of oligopoly?
A) mutual firm independence B) zero economic profits in the short run C) marginal cost pricing D) only a few firms in the industry
In the United States, the median household income is ________ than the mean income, which means there are ________ households with low incomes than with high incomes
A) less; more B) greater; more C) greater; fewer D) less; fewer