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Author Question: Over the past two decades, the distribution of income in the United States has become more equal. Is ... (Read 217 times)

clmills979

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on: Jun 29, 2018
Over the past two decades, the distribution of income in the United States has become more equal. Is the previous statement or in? Briefly explain your answer.
 
  What will be an ideal response?

Question 2

The marginal rate of substitution of the good measured along the x-axis increases as a consumer moves downward along an indifference curve. Is the previous statement correct or not?
 
  What will be an ideal response?


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memslove

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The statement is incorrect. In recent years, higher income groups have gained relatively more than the lower income groups. The Gini ratio has increased, which means that the share of income going to the richest households has increased and the share of income going to the poorest households has decreased.

Answer to Question 2

The statement is incorrect because the marginal rate of substitution decreases as a consumer moves downward along an indifference curve.


clmills979

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Reply #2 on: Jun 29, 2018
Correct answers!


memslove

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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