Which statement is true?
A. Income is fairly evenly distributed in the U.S.
B. The richest 1% of our population has nearly 50% of the income.
C. The percentage of Americans below the poverty line has been falling steadily (except for recession) since the 1950s.
D. Eleven percent of the children under six living in a two parent home are poor.
D. Eleven percent of the children under six living in a two parent home are poor.
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The double coincidence of wants is that each party to an exchange must want precisely what the other has to offer
Indicate whether the statement is true or false
Which of the following is not a tariff pattern of the major world traders?
A. overall tariff rates are relatively low B. tariffs are higher in agriculture than in other industrial sectors C. tariffs are higher to economically hostile countries D. commonality in the sectors they protect most
_____________ is the additional output produced by the last worker hired.
Fill in the blank(s) with the appropriate word(s).
Economists define the unemployed as individuals who are
A. working less than their desired amount of time. B. not currently working but are actively looking for work. C. not currently working. D. working but looking for a different job.