In the United States
A) there are more households with incomes below the mean income than above the mean income.
B) there are more households with incomes above the mean income than below the mean income.
C) the mode income equals the mean income.
D) the income distribution is bell shaped.
A
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On the long-run Phillips curve, the unemployment rate
A) equals the natural unemployment rate, but the inflation rate can be any value. B) decreases when the inflation rate increases. C) equals the natural unemployment rate, and the inflation rate equals the expected inflation rate. D) can be any value, but the inflation rate equals the expected inflation rate. E) and inflation rate can take any value.
What is the source of comparative advantage in the Heckscher-Ohlin model?
What will be an ideal response?