Most economic activity in the United States is carried out by monopolies.

Refer to Figure 21.1. The middle 20% of the population earn ________ of total income

A) 16% B) 23% C) 28% D) 32%

Suppose that the consumer price index has risen from 100 to 200. From this information we can conclude that

a) each person's real income was cut in half b) consumer incomes are doubled c) the prices in an average consumer's basket have doubled d) all consumer good prices are doubled e) all prices in the economy are doubled