This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Over the past two decades, the distribution of income in the United States has become more equal. Is ... (Read 190 times)

clmills979

  • Hero Member
  • *****
  • Posts: 551
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?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

memslove

  • Sr. Member
  • ****
  • Posts: 321
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

  • Hero Member
  • *****
  • Posts: 551
Reply #2 on: Jun 29, 2018
Correct answers!


memslove

  • Sr. Member
  • ****
  • Posts: 321
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Phacopid trilobite, Devonian age, Ohio, United States Phacopid trilobite, Devonian age, Ohio, United States
High rates of rural poverty have been a part of the United States from its origin to the present. ... High rates of rural poverty have been a part of the United States from its origin to the present. ...
Torque is a twisting force equal to the distance from the pivot point times the force applied ... Torque is a twisting force equal to the distance from the pivot point times the force applied ...
Top Ten States Ranked by Rate or Reported Bacterial STI Cases in 2011 Top Ten States Ranked by Rate or Reported Bacterial STI Cases in 2011
Population distribution (dispersion) Population distribution (dispersion)
Saving Rates by Income Quintile, 2003 Saving Rates by Income Quintile, 2003
Video: Global warming and its effect on climate change

For a complete list of videos, visit our video library