The income distribution of the United States is basically the nation's answer to the
A. WHAT question.
B. FOR WHOM question.
C. HOW question.
D. WHAT, HOW, and FOR WHOM questions.
Answer: B
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In the short run, changes in output can only be brought about by a change in the quantity of variable inputs
Indicate whether the statement is true or false
If demand is ________ with respect to price, a price increase will ________ total revenue.
A. inelastic; decrease B. unit elastic; decrease C. inelastic; increase D. elastic; increase
Most economists are against rent control, in part, because it:
a. leads to surpluses b. encourages landlords to build too many apartments c. Discourages tenants from searching for apartments d. encourages landlords to overspend in upkeep and maintenance on apartments e. none of the above
A nation has a population of 300 million people. Of these, 100 million are retired, in the military, in institutions, or under 16 years old. There are 190 million who are employed and 10 million who are unemployed. What is the unemployment rate?
a. 1.9 percent b. 10 percent c. 2 percent d. 5 percent