The 2011 U.S. distribution of income shows that the top 5 percent of families earn approximately how much income per year?

Ball's research showed that the sacrifice ratio

A) was the same for all countries. B) was nearly zero for most countries. C) was about 10 for all countries except the United States, where it was about 2. D) varied considerably across countries.

If the elasticity of supply for a good is greater than the government expected: a. Consumers will bear more of the burden of the tax than the government expected. b. Producers will bear more of the burden of the tax than the government expected. c. The tax will raise more revenue than the government expected

d. Both a. and c. are true.