Two of the biggest changes in income distribution in the United States since 1980 are ______.
a. a drop in the lowest quintile and a rise in the highest quintile
b. a drop in the highest quintile and a rise in the lowest quintile
c. a drop in the lowest and highest quintiles
d. a rise in the lowest and highest quintiles
a. a drop in the lowest quintile and a rise in the highest quintile
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During the last several decades the labor force participation rate
a. of women has increased substantially. b. of men has increased substantially. c. of women has steadily declined. d. of both men and women has steadily declined.
If a increase in income decreases the demand for a good, then the good is a(n)
a. substitute good. b. complementary good. c. normal good. d. inferior good.
To avoid the imposition of capital controls, a government wishing to keep its exchange rate at a certain level, may rely on:
a. forbidding all sales or purchases of foreign currency. b. asking the large banks to keep the prices at a certain level. c. asking for loans from the International Monetary Fund (IMF). d. intervention in the foreign exchange market to raise or lower the exchange rate.
When Toyota introduced its 2010 Prius, it announced that the average retail price of the 2010 model would be lower than the average retail price was for the equivalent 2009 model. Which of the following would explain the price differential?
A) The demand for the Prius had increased, and the supply of the Prius remained unchanged. B) The supply of the Prius had decreased, and the demand for the Prius remained unchanged. C) The demand for the Prius had decreased, and the supply of the Prius had increased. D) The demand for the Prius had increased, and the supply of the Prius had decreased.