Which of the following is a main factor that explains the differences in the incomes of U.S. households?

A. inheritances
B. luck and misfortune
C. discrimination
D. All of these


Answer: D

Economics

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According to the text, today's Lorenz curve is

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Workers’ reluctance to take nominal pay cuts offers a feasible explanation of why the Phillips Curve relation breaks down when there is deflation.

a. true b. false

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If your income increases from $30,000 to $40,000 and your savings increases from $2,000 to $4,000, your marginal propensity to save (MPS) is:

A. 0.2. B. 0.4. C. 0.5. D. 0.8.

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Ceteris paribus is the same as rise / run.

Answer the following statement true (T) or false (F)

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