Which income distribution is more unequal and why: the income distribution in the United States or in the entire world?
What will be an ideal response?
The world Gini ratio is larger than the U.S. Gini ratio which means that the distribution of world income is less equally distributed than in the United States. The world income distribution ranges from extremely poor individuals living on less than $2.50 per day to the very wealthy living in the United States and other advanced countries.
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In which direction does the demand curve shift when demand decreases?
a. down
b. up
c. left
d. right
All large financial institutions have to hold a reserve of almost ___% of their demand deposits.
A. 2 B. 10 C. 12 D. 20
In a labor market characterized by bilateral monopoly, the wage rate will:
A. be logically indeterminate. B. be established at the level desired by the union. C. be established at the level desired by the employer. D. always be established at the competitive level.
In perfect competition, each additional unit of output that a firm sells will yield a marginal revenue that is
A. less than price. B. equal to price. C. equal to average total cost. D. greater than price.