Table 20-8. Refer to Table 20-8 Comparing data from 2000 and 2011, which of the following statements is correct?
a. the bottoms 40% of the population had a greater share of the income in 2011 than it did in 2001.
b. The top 40% of the population had a greater share of the income in 2011 than it did in 2001.
c. The middle 60% of the population had a greater share of the income in 2011 than it did in 2001.
d. All of the above are correct
Ans: b. The top 40% of the population had a greater share of the income in 2011 than it did in 2001.
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Hank requires 1 hour to cut the grass and 3 hours to clean the house. His sister Holly requires 1 hour to cut the grass and 4 hours to clean the house. Which of the following statements is true?
A) Hank has a comparative advantage in both cutting the grass and cleaning the house. B) Hank and Holly both have a comparative advantage in cutting the grass. C) Hank has a lower opportunity cost of cutting the grass. D) Hank has an absolute advantage in both cutting the grass and cleaning the house. E) Holly has a comparative advantage in cutting the grass.
Which of the following would lead to an increase in the demand for computer software?
a. A decrease in the price of computer software. b. A decrease in the price of personal computers. c. An decrease in the cost of producing computer software. d. An decrease in personal income.
David increases the number of companies in which he holds stocks
a. This reduces risk's standard deviation and firm-specific risk. b. This reduces risk's standard deviation and market risk. c. This raises market risk, but lowers firm-specific risk. What happens to overall risk is unclear. d. This raises firm-specific risk, but lowers market risk. What happens to overall risk is unclear.
The United States has the largest percentage of foreigners in its overall population of any nation
Indicate whether the statement is true or false