Which of the following most closely represents the share of total U.S. income to the poorest 20 percent of all U.S. families?
a. 47 percent.
b. 23 percent.
c. 10 percent.
d. 4 percent.
d
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
Why might most people, as in the United States, save less than is good for themselves and for the economy as a whole? How might policymakers encourage more saving?
What will be an ideal response?
If a principle is reducing agency costs by gathering information about the agent's type, he is most likely trying to solve the problem
a. Adverse selection b. Moral hazard c. Both of the above d. None of the above
Proponents of a command economy argue that it promotes:
a. efficiency. b. equity. c. consumer sovereignty. d. economic growth.