According to the United Nations, approximately what percentage of the world's income is received by the richest one-fifth of the world's population?
A. 20 percent.
B. 30 percent.
C. 60 percent.
D. 80 percent.
D. 80 percent.
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A cartel is an agreement
A) among firms to flood the market and eliminate competition. B) among firms to steal industrial processes from rival firms. C) among firms to decrease output and raise price. D) by the government to restrict imports.
When colluding oligopolists meet and formally agree on mutually beneficial strategies this is called
a. implicit exclusion b. beneficial inclusion c. reciprocal inclusion d. implicit exclusionary pricing e. explicit collusion
The theory of public choice examines
A. How a policy of laissez faire works to allocate resources. B. The optimal government intervention to correct market failures. C. How to apply cost-benefit analysis. D. The role of self-interest in public decisions.
________ is a problem that occurs when one concludes that a change in variable X caused a change in variable Y when in actual fact, it is a change in variable Y that caused a change in variable X
A) The omitted variable B) The positive-to-negative relationship C) Reverse causality D) Nonlinear slope