Income is more unequally distributed:
a. than wealth
b. today than it was 40 years ago
c. at a point in time than over the course of a lifetime
d. both b. and c.
Answer: d. both b. and c.
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Which of the following pairs of goods is likely to be considered complements?
A) Nokia and Samsung cell phones B) Laptops and electric heaters C) Motorcycles and typewriters D) Pens and writing pads
Refer to the scenario above. Which of the following statements is true of the model?
A) The model predicts that two additional years of education is likely to increase future earnings by 60 percent. B) The prediction of the model can be applied to unlimited years of additional education. C) The predictions of this model cannot be tested empirically. D) The prediction of the model is accurate and will hold for all individuals.