Compared to their percentage shares in 1968, over the next 40 years, the percentage shares of each of the lowest four quintiles
A. rose substantially.
B. rose somewhat.
C. stayed about the same.
D. declined.
D. declined.
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A decrease in the price of milk (and ingredient of ice cream) will result in a(n):
A) shift of the supply curve of ice cream to the left. B) shift of the supply curve of ice cream to the right. C) lower price of ice cream, and thus an increase in the demand for ice cream. D) increase in the demand for ice cream and a decrease in the supply of milk.
If the price of inputs rises when a nation is in the intermediate range:
a. Real GDP rises and average price level falls. b. Real GDP falls and average price level rises. c. Real GDP rises and real GDP remains the same. d. Real GDP remains the same and average price level falls. e. Real GDP remains the same and average price level rises.