In 2017, about what percentage of total income was earned by the richest fifth of all U.S. households?
A. 30 percent
B. 50 percent
C. 70 percent
D. 90 percent
Answer: C
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The problem created by asymmetric information before the transaction occurs is called ________, while the problem created after the transaction occurs is called ________
A) adverse selection; moral hazard B) moral hazard; adverse selection C) costly state verification; free-riding D) free-riding; costly state verification
In the steady state, real GDP per worker ________, and real GDP per effective worker ________
A) will grow; will grow B) will grow; is constant C) is constant; will grow D) is constant; is constant
A likely consequence of debt default is: a. a decrease in the federal cost of borrowing
b. an increase in unemployment due to growing uncertainty. c. a sudden decline in the market interest rates. d. an increase in the credit flows in an economy. e. a sudden increase in the investment flows in the economy.
Which of the following is true?
a. The buyer of a firm's stock is purchasing a fractional share in the firm's future net revenues. b. When investors believe that a business decision by the management of a firm will increase the firm's future earnings, the price of the firm's stock will tend to rise. c. Changing stock prices provide the board of directors and managers of a firm with a strong incentive to make good decisions and undertake productive projects. d. All of the above are true.