Since the 1930s the United States has experienced continuous deflation
Indicate whether the statement is true or false
FALSE
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A graph that shows the cumulative shares of income received by a family is a:
a. Distribution curve. b. Lorenz curve. c. Ricardian curve. d. Quintlile curve.
Graphs are valuable because they facilitate interpretation of data.
Answer the following statement true (T) or false (F)
Most labor economists believe that the supply of labor is
a. less elastic than the demand, and, therefore, firms bear most of the burden of the payroll tax. b. less elastic than the demand, and, therefore, workers bear most of the burden of the payroll tax. c. more elastic than the demand, and, therefore, workers bear most of the burden of the payroll tax. d. more elastic than the demand, and, therefore, firms bear most of the burden of the payroll tax.
Recall the Application about declining U.S. labor force participation rate since 1999 to answer the following question(s). According to this Application, one explanation for the decline in the U.S. labor force participation rate since 1999 is:
A. the decline in the overall population. B. the increasing number of retiring baby boomers. C. the increase in immigration to the United States. D. the increase in outsourcing by U.S. companies.