The lowest-income fifth of the U.S. population ordinarily earns about 20 percent of the income.
Answer the following statement true (T) or false (F)
False
Economics
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In the circular flow model, households earn their incomes in the:
A. Resource markets B. Product markets C. Capitalist markets D. Money markets
Economics
Refer to the given data. At what price does each shoe shine sell?
Answer the question on the basis of the following information for Manfred's Shoe Shine Parlor.
Assume Manfred hires labor, its only variable input, under purely competitive conditions. Shoe
shines are also sold competitively.
A. $1.
B. $2.
C. $3.
D. $2.50.
Economics