Question

When the occupational choices of women or minorities are restricted, this results in

		lower wages for these groups, but has no effect on the efficient allocation of labor resources.
		lower wages for these groups and less efficient allocation of labor resources.
		lower wages for these groups, but more efficient allocation of labor resources.
		higher wages for these groups and more efficient allocation of labor resources.

(Last Word) Between 1995 and 2007 in the United States,

		average U.S. household wealth declined and median household wealth increased.
		average U.S. household wealth increased and median household wealth declined.
		both average and median U.S. household wealth increased.
		both average and median U.S. household wealth declined.

Suppose the members of population A, consisting of Al, Bob, Curt, Doris, and Ellie, receive annual incomes of $5,000, $2,500, $1,250, $750, and $500, respectively. What percentage of total income is received by the richest quintile?

		25
		20
		50
		5

Answer 1

1. When occupational choices are restricted for women or minorities obviously it will result in lesser wages than their other counterparts.This also indicates less efficient allocation of resources/labor forces.

2.Between 1995 and 2007 both average and median wealth increased.Average wealth doubled whereas median wealth increased by almost 70% during this period.However, after 2007 due to recession things changed drastically.

3.Total income is $10000. and richest group earns $5000.Hence,the richest receive 50% of total income.