Since 1970, the share of income in the
A. lowest quintile has increased and the share in highest has decreased.
B. lowest quintile has decreased and the share in highest has increased.
C. lowest quintile has increased and the share in highest has increased.
D. lowest quintile has decreased and the share in highest has decreased.
Answer: B
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The United States has numerous antitrust laws on the books and numerous legal precedents on acceptable corporate behavior. Still, the true commitment to enforcement is measured by the
a. number of monopolies we sue b. number of monopolies we break up c. partiality of the federal judges d. willingness of industry to behave e. budget of the enforcement agencies
According to economist Emmanuel Saez, between 1993 and 2010, the incomes of the richest 1 percent grew by ________, and the other 99 percent grew by ________ on average.
A. 5.8 percent; 64 percent B. 58 percent; 6.4 percent C. 58 percent; 64 percent D. 5.8 percent; 6.4 percent
Figure 10-2
At which point in is the economy experiencing an economic boom?
a.
G
b.
I
c.
F
d.
H
The short-run Phillips curve relationship indicates that
A. an unanticipated increase in aggregate demand lowers the inflation rate but raises the unemployment rate. B. only an anticipated change in aggregate demand affects the inflation rate or the unemployment rate. C. an unanticipated increase in aggregate demand raises both the inflation rate and the unemployment rate. D. an unanticipated increase in aggregate demand raises the inflation rate but lowers the unemployment rate.