Over the past two decades the U.S. has persistently had trade deficits

From 1993 to 2012, average real income for the bottom quintile of U.S. households

A) decreased by more than 10%. B) remained virtually unchanged. C) increased by about 5%. D) almost doubled.

If income rises and the demand for toothbrushes stays the same, income elasticity of toothbrushes is said to be unit elastic

a. True b. False