"Over the past two decades, the distribution of income in the United States has become more equal." Is the previous statement or in? Briefly explain your answer
What will be an ideal response?
The statement is incorrect. In recent years, higher income groups have gained relatively more than the lower income groups. The Gini ratio has increased, which means that the share of income going to the richest households has increased and the share of income going to the poorest households has decreased.
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Which of the following is a macroeconomics question?
A) What factors determine the price of carrots? B) What determines the production of DVDs? C) What determines the inflation rate? D) What determines the wage of auto workers?
A payoff matrix shows:
A. the payoff to being a perfectly competitive firm. B. the demand curve facing a firm when there are only two firms. C. the payoffs for each possible combination of strategies. D. the payoff to being a monopolist.