The personal distribution of income shows
A) that labor receives the largest percentage of total income.
B) how profit accounts for the largest fraction of total income.
C) that the richest 20 percent of households receive 23 percent of total income.
D) that interest accounts for most of the income of the richest 20 percent of households.
E) that the poorest 20 percent of households receive less than 4 percent of total income.
E
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In an unregulated competitive market, the presence of marginal external benefit from a good or service results in overproduction
Indicate whether the statement is true or false
Economies of scale is another term for
A. increasing returns to scale. B. constant returns to scale. C. increasing marginal physical productivity. D. decreasing returns to scale.
Why did banks increase their holdings of excess reserves during the Financial Crisis of 2007-2009?
What will be an ideal response?
In a market characterized by a single seller and many buyers, a seller's investment to reduce transaction costs can lead to which of the following situations?
a. It can reduce producer surplus in the long run. b. It can raise the price paid by customers and still make them better off. c. It can decrease the brand value of the product. d. It can lower the quality of the product in the long run.