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 185 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?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

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?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Mediterranean woodland and shrubland distribution and climate. Mediterranean woodland and shrubland distribution and climate.
Microscopic photo taken by Opportunity showing a gray hematite concretion, indicative of the past pr Microscopic photo taken by Opportunity showing a gray hematite concretion, indicative of the past pr
Rule of Nines. A method for determining percentage of body burned. Each different colored section re Rule of Nines. A method for determining percentage of body burned. Each different colored section re
Cerebral angiography. The four angiograms each reveal the distribution of blood vessels supplying th Cerebral angiography. The four angiograms each reveal the distribution of blood vessels supplying th
Distribution and Forms of Precipitation: Snow Distribution and Forms of Precipitation: Snow
Distribution of Earth's Water Distribution of Earth's Water
Video: Buffers definition and the role of buffer in the body

For a complete list of videos, visit our video library