Answer the following statement(s) true (T) or false (F)
1. Since the 1980s, the upper fifth of earners have seen their percentage of income
drop.
2. Older people tend to have higher incomes than middle-aged and younger people.
3. Workaholics earn less than others with comparable skills.
4. Income inequality in the United States is worse than any other country.
5. Political and social conditions have decreased income inequality over the past couple
of centuries.
1. FALSE
2. FALSE
3. FALSE
4. FALSE
5. TRUE
You might also like to view...
Use the figure below to answer the following question.
Refer to the three demand curves. An "increase in demand" would be illustrated as a change from
A. line A to C. B. point 4 to point 1. C. point 1 to point 2. D. line C to B.
Which of the following would reduce the problem of the poverty trap while still providing financial help to those who need it and assisting them to phase into being self-supporting?
a. Government assistance increased by more than $1 for every $1 earned. b. Government assistance increased by less than $1 for every $1 earned. c. Government assistance reduced by more than $1 for every $1 earned. d. Government assistance reduced by less than $1 for every $1 earned.
What matters most in determining efficient distribution of production over the world is
a. absolute advantage. b. efficiency. c. the stock of resources. d. comparative advantage.
Refer to the graph shown.
The richest 10 percent of the families earn:
A. 48 percent of the income. B. 52 percent of the income. C. 63 percent of the income. D. 37 percent of the income.