How has the distribution of money income changed over time?
What will be an ideal response?
The distribution of money income has remained fairly stable for a long time. Between 1947 and 1980, the share of income going to the top 20 percent declined, while the share going to the bottom 20 percent increased. However, since 1980, the share of income going to the top 20 percent has increased, while the share going to the bottom 20 percent has declined.
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Which of the following is true about the game in Scenario 13.2?
A) ABC's dominant strategy is to offer a rebate. B) ABC's dominant strategy is not offer a rebate. C) XYZ's dominant strategy is to offer a rebate. D) XYZ's dominant strategy is not offer a rebate. E) Both ABC and XYZ offer a rebate as a dominant strategy.
Which of the following is an incorrect statement? a. An economy with many unemployed workers and idle factories is not operating efficiently. b. Idle factories represent unemployed capital resources
c. A large amount of unemployed resources will shift the production possibilities curve outward. d. Idle farms represent unemployed land resources.