Perfect income equality is achieved if each population quintile receives what percent of income?
a. 20 percent
b. 10 percent
c. 75 percent
d. 50 percent
e. 100 percent
A
You might also like to view...
The common term for a severe recession is a
A) bottoming out. B) economic adjustment. C) depression. D) downturn.
People buy insurance
a. because they are risk averse. b. to defer consumption. c. because of externalities. d. to maximize their welfare. e. to ensure against poor health.
Insurance works best in situations where there is
a. a high probability of a small loss. b. a low probability of a small loss. c. a high probability of a large loss. d. a low probability of a large loss. e. the level of probability and the size of the loss are irrelevant.
A profit-maximizing monopolist
A. engages in more research and development activity than a perfectly competitive firm. B. produces the output level where P = MC. C. produces less output than a perfectly competitive industry. D. produces at the unit elastic point on the market demand curve.