Since 1980, income inequality (as measured by the income share of the highest 20 percent of income earners relative to the lowest 20 percent) has
a. been virtually unchanged.
b. increased.
c. decreased.
d. fluctuated in a random pattern.
B
You might also like to view...
Which statement most accurately captures the state of money today?
A) Money today includes currency, bank deposits and checks. B) Money today includes currency and checks but not bank deposits. C) Money today includes bank deposits and currency but not checks. D) Money today includes bank deposits and checks but not currency. E) Money today includes checks and credit cards.
The value of the discount weight used to translate utils into current utils is:
A) one. B) less than one. C) greater than one but less than two. D) greater than one but less than three.
Refer to the information provided in Figure 12.4 below to answer the question(s) that follow.
Figure 12.4There are two sectors in the economy, X and Y, and both are in long-run, zero-profit equilibrium at the intersections of S0 and D0.Refer to Figure 12.4. Assume consumer preference changes toward X and away from Y. Ceteris paribus, a new general equilibrium will eventually be reached in sector X with a price of ________ and a quantity of ________.
A. P1; Q0 B. P1; Q1 C. P0; > Q1 D. P0; Q0
The idea of time inconsistency explains procrastination by:
A. recognizing that we have several modes of decision making, and the less time we have to react, the worse the decision is. B. recognizing that we never take long-term benefits into account. C. recognizing that our ability to remember long-term benefits when making decisions diminishes the closer the action becomes. D. recognizing that we have two modes of decision making, a "future-oriented" and a "present-oriented" self, who have conflicting objectives.