The wealthiest 10 percent of the population owns about
A) 30 percent of all the wealth in the United States.
B) 50 percent of all the wealth in the United States.
C) 70 percent of all the wealth in the United States.
D) 90 percent of all the wealth in the United States.
C
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Based on the circular flow model, money flows from households to businesses in:
a. factor markets. b. product markets. c. neither factor nor product markets. d. both factor and product markets.
Dillon is undecided about whether to eat at a restaurant or to order pizza at home. He then obtains a coupon for 10 percent off at the restaurant and decides to go there to eat. This is an example of
A) someone using criteria other than price to make a consumption decision. B) a lower price leading a consumer to substitute more of the less expensive good for the relatively more expensive good. C) a lower price leading a consumer to buy more of a good because of the income effect. D) a consumer making a decision irrationally.