In the United States, approximately what percentage of the total income is earned by the highest 5 percent of the families?

Overproduction results in

A) external costs. B) external benefits. C) deadweight loss. D) super-efficiency. E) the marginal benefit of the last unit produced being larger than the marginal cost.

Which of the following statements is true?

a. A less developed country (LDC) is a country with a low GDP per capita, low levels of capital, and uneducated workers. b. The vicious circle of poverty exists because GDP must rise before people can save and invest. c. LDCs are characterized by rapid population growth and low levels of investment in human capital. d. All of these.