The highest-income fifth of the U.S. population earns more than 50 percent of all income.
Answer the following statement true (T) or false (F)
True
You might also like to view...
The tax interaction effect is the _________ in excess burden in the labor market stemming from the _______ in real wages caused by a Pigouvian tax.
A. increase; increase B. reduce; reduction C. increase; reduction D. reduction; increase
Which of the following would likely be the most affected when the economy is in the recession phase of the business cycle?
A) gasoline sales B) housing sales C) beer and wine sales D) movie ticket sales
When banks hold excess reserves, the size of the money multiplier
A) is less than the simple deposit multiplier would suggest. B) is greater than the simple deposit multiplier would suggest. C) is equal to the size of the simple deposit multiplier. D) becomes infinite.
Which of the following best describes the reason for studying economics?
a. Studying economics helps individuals, businesses, and governments make the best decisions. b. Studying economics helps individuals, businesses and governments understand the financial problems facing the world today. c. Studying economics gives businesses and governments the answers to economic problems. d. Studying economics only helps governments understand the major problems facing the world today.