Since the 1970s, the share of income in the top fifth of households
A. has steadily increased.
B. has steadily decreased.
C. has remained relatively constant.
D. dipped in the 1980s but increased since.
Answer: D
Economics
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When a reduction in the price of a good allows a consumer to purchase more of all goods, this effect is called the:
a. income effect. b. substitution effect. c. elasticity effect. d. monetary effect.
Economics