According to the text, the highest 20 percent of U.S. income households earn about what percentage of total income today?
A) 10 percent
B) 20 percent
C) 50 percent
D) 95 percent
Answer: C
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A common response to stop a depreciation of a currency is to use contractionary monetary policy, which could lead to a recession
Indicate whether the statement is true or false
A federal government deficit is said to exist in the event that ________
A) federal outlays are less than federal revenues B) federal outlays are equal to federal revenues C) federal outlays are greater than federal revenues D) any of the above conditions exists
Refer to the above figure. If a price floor of $5 was set
A. there would be a shortage of 40 units. B. there would be a shortage of 20 units. C. there would be a surplus of 40 units. D. the quantity sold would be 80 units.
Which of the following is a macroeconomic policy?
A. Requiring locks on all guns. B. Tax cuts to bring the federal budget into balance C. Regulations limiting automobile emissions. D. How an early freeze in California will affect the price of fruit.