Fact: The lowest 20 of U.S. family incomes in the U.S. has fallen from 4.8 to 3.8 between 1960 and 2010. Your authors argue that
A) this is clear evidence that the poor have gotten poorer.
B) this is primarily the result of a general decline of the power of labor unions in America.
C) while their percentage of national income has fallen, real GDP has increased over 4 times during the past 50 years, and so those persons actually earned much more income than before.
D) none of the above are true.
Question 2
Which of the following statements is true?
A) Optimizers with the highest opportunity cost of time push up the rental price of apartments with the highest commute time.
B) Optimizers with the lowest opportunity cost of time push up the rental price of apartments with the lowest commute time.
C) As the rental prices of downtown apartments rise, only workers with the highest opportunity cost of time will be willing to rent them.
D) As the rental prices of downtown apartments rise, only workers with the lowest opportunity cost of time will be willing to rent them.
Trapdoor spider (family: Ctenizidae), an ambush predator.
Median Annual Earnings of Full-Time Workers, by Gender, 1960–2010
Changes in Time Spent with Family Members
Albert Camus (1913–1960).
Social Capability versus GDP per Capita in 1960
A pedigree showing the inheritance of a trait through several generations of a family.