The quintile distribution of family income in the United States shows
A) the average incomes of 5-person families grouped by age, sex, race, education, and similar factors.
B) the percentage of total family income received by each 5 percent of U.S. families grouped by income.
C) the percentage of total income received by each 20 percent of U.S. families grouped by income.
D) the percentage of total family income spent on food, clothing, shelter, medical care, and essential services.
E) the percentage of total family income stemming respectively from wages, interest, profit, rent, and welfare grants or other transfers.
C
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As the price level increases, the quantity of RGDP demanded in the economy ____, and when the price level decreases, the quantity of RGDP demanded in the economy ____
a. decreases, decreases b. increases, increases c. increases, decreases d. decreases, increases
Since monopolists that practice price discrimination generally increase market output, compared to a monopoly that charges a single price, practicing price discrimination generally leads to a smaller deadweight loss
a. True b. False Indicate whether the statement is true or false