What is the primary reason that the highest quintile's share of the national income increased very rapidly over the last 20 years?
A. Poor people are lazy and do not want to work.
B. All of our jobs have been shipped overseas.
C. Tax cuts on the property owners and high income citizens.
D. High cost of health care.
C. Tax cuts on the property owners and high income citizens.
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A concentration ratio gives
A) the average size of the firms in an industry. B) the total sales of four or eight of the mid-sized firms in the industry. C) the percentage of all sales contributed by the four or eight largest firms in the industry. D) the sales of the four largest firms in the industry divided by the sales of the eight largest firms in the industry.
When the legal reserve requirement is changed,
a. the money multiplier is changed but the amount of excess reserves in the banking system is unchanged b. the money multiplier is unchanged but the amount of excess reserves in the banking system is changed c. the size of the money multiplier and the amount of excess reserves change in the opposite direction from the legal reserve requirement d. the size of the money multiplier and the amount of excess reserves change in the same direction as the legal reserve requirement e. neither the money multiplier nor the amount of excess reserves change.
While vacationing in Turkey you see a rug you consider purchasing. The seller tells you the rug costs 1,200 Turkish lire. A. If the exchange rate is .60 lira per dollar, how many dollars does the rug cost? B. If the dollar depreciates against the lira, will it take more or fewer dollars to buy the rug? Explain
Opportunity cost
What will be an ideal response?