Refer to Figure 21.1. The highest 20% of the population earn ________ of total income
A) 40%
B) 44%
C) 60%
D) 80%
A
You might also like to view...
Who won a Nobel Prize in economics for his work in the development of game theory?
A) John Nash B) Oskar Morgenstern C) Howard Schultz D) John von Neuman
In the case of nonexcludable goods, economists contend that the market ___________ produce these goods because of the ________________________.
A. will; free rider problem B. will not; law of diminishing marginal utility C. will not; law of diminishing marginal returns D. will not; free rider problem.
What additional sources of risk come from international investments?
What will be an ideal response?
Assume that capital and labor are complementary inputs. If the firm decreases the amount of capital it employs, this would
A. cause the firm to move down along the MP schedule for labor. B. shift the firm?s MP schedule for labor to the left. C. shift the firm?s MP schedule for labor to the right. D. cause the firm to move up along its MP schedule for labor.