Use the above table. What percentage of income is received by the poorest 60% of the population?
A) 27.78 percent
B) 33.33 percent
C) 44.44 percent
D) 55.56 percent
C
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Which of the following statements represents a correct and sequentially accurate economic explanation?
A) Goods X and Y are substitutes. The price of X falls, the quantity demanded of X rises, and the demand for Y rises. B) Goods X and Y are substitutes. The price of X rises, the demand for X falls, and the demand for Y rises. C) Goods X and Y are substitutes. The price of X falls, the demand for X rises, and the quantity demanded of Y rises. D) Goods X and Y are substitutes. The price of X falls, the quantity demanded of X rises, and the demand for Y falls. E) Goods X and Y are complements. The price of X falls, the quantity demanded of X rises, and the demand for Y falls.
The following data give the dates of successive turning points in U.S. economic activity and the corresponding levels of real GDP at the time. Turning PointDateReal GDP (1996 $ billions)(A)July 19531992.2(B)May 19541941.0(C)Apr. 19572182.7(D)Apr. 19582117.4(E)Apr. 19602391.0 Which of the turning points are troughs?
A. (C), (D), and (E) B. (B) and (D) C. (A), (B), and (C) D. (A), (C), and (E)