The wealthiest 10 percent of the population owns about

A) 30 percent of all the wealth in the United States.
B) 50 percent of all the wealth in the United States.
C) 70 percent of all the wealth in the United States.
D) 90 percent of all the wealth in the United States.


C

Economics

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In the United States during the 1970s, the unemployment rate rose from previous years, and the inflation rate increased rapidly. This set of events is best described by saying that the

A) the long-run Phillips curve shifted leftward. B) short-run Phillips curve shifted downward. C) economy moved to a lower point on its short-run Phillips curve but the short-run Phillips curve did not shift. D) short-run Phillips curve shifted upward. E) economy moved to a higher point on its short-run Phillips curve but the short-run Phillips curve did not shift.

Economics

The output-capital ratio (Y/K) depends on the following four determinants. Which determinant of these four is most likely to be affected by government growth policy?

A) the nature of the production function B) the depreciation rate C) the growth rate of labor input D) the growth of capital per person

Economics

Which of the following best expresses the law of demand?

What will be an ideal response?

Economics

Stagflation refers to a situation in which the economy is experiencing:

A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.

Economics