In the United States, inheritance accounts for roughly ________ of income inequality
A) 50 percent
B) 30 percent
C) 20 percent
D) 10 percent
D
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Supply shocks after 1985
A) forced the Fed to follow restrictive monetary policy and caused a negative output ratio. B) forced the Fed to follow restrictive monetary policy and caused a positive output ratio. C) allowed the Fed to follow accommodative monetary policy and caused a negative output ratio. D) allowed the Fed to follow accommodative monetary policy and push the output ratio toward zero.
Police protection in a community is an example of a _____
a. merit good b. club good c. public good d. private good
Considering perfect competition, monopolistic competition, and monopoly, which of the market structures results in production of the welfare-maximizing level of output?
The actual value of price elasticity of demand
A) measures the relative change in quantity demanded when there is a change in price. B) will change when the units good is measured in changes. C) varies with changes in supply. D) is always negative.