The above table shows the distribution of income and wealth in Miseria. What percent of income is earned by the richest 40 percent of the population?

Many Americans are selling their used cars and buying new fuel-efficient hybrids. Other things remaining the same, in the market for used cars, ________ and in the market for hybrids ________

A. supply increases and the price falls; demand increases and the price rises B. demand decreases and the price rises; supply increases and the price falls C. both demand and supply decrease and the price might rise, fall, or not change; demand increases and the price rises D. demand decreases, supply increases, and the price falls; supply in-creases and the price falls

Explain the economic idea that "people respond to incentives."

What will be an ideal response?