Assuming a real interest rate of four percent, which of these causes the largest increase in the present value of lifetime resources?
A) a winning lottery ticket that pays $9,600 today
B) an additional $10,000 of income in the future period
C) a salary increase of $5,000 both today and in the future period
D) an additional $10,000 of current wealth
D
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Before the 1970's, the immigrant population in the U.S.:
A. Was more likely to receive public assistance than people born in the United States B. Was less likely to receive public assistance than people born in the United States C. Was just as likely to receive public assistance as people born in the United States D. Did not qualify for public assistance
Open market operations refer to the Fed's transactions with ________
A) households B) private banks C) state governments D) firms
Refer to Figure 3-5. At a price of $0
A) there is a shortage of 8 units. B) there is a shortage of 0 units. C) there is a surplus of 8 units. D) there is a surplus of 0 units.
According to Joseph Schumpeter, the success of capitalism relies on:
a. continuous, small improvements to existing products. b. "gales of creative destruction." c. careful government direction of the manufacturing sector. d. a strong agricultural sector to support the manufacturing workforce.