Over the last 50 years, the poor have:
A. become richer at the same rate as the rich, and so inequality has stayed the same.
B. become richer at a slower rate than the rich, and so inequality has grown.
C. become poorer, while the rich have become richer, and so inequality has grown.
D. become richer at a slower rate than the rich, and so inequality has decreased.
Answer: B
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How are Treasury bond prices affected when the interest rate rises?
A. The purchaser of the bond needs to spend less money to obtain a given number of dollars of interest per year, so the price of the bond must decrease. B. The purchaser of the bond needs to spend more money to obtain a given number of dollars of interest per year, so the price of the bond must increase. C. The purchaser of the bond needs to spend more money to obtain a given number of dollars of interest per year, so the price of the bond must decrease. D. The purchaser of the bond needs to spend less money to obtain a given number of dollars of interest per year, so the price of the bond must increase.
The market's way of rationing limited resources, goods, and services to consumers in a market economy is through
A. commissions. B. profits. C. incentives. D. prices.