Which of the following is true?
a. Taxes and transfers generally increase the income share of the bottom quintile of income recipients, while reducing the share of the top group of earners.
b. In a market economy, the distribution of income is determined by the quantity and value of the resources supplied by the various individuals, and nearly half the value of resources owned by the rich was inherited.
c. Between 1980 and 2009, the income share received by the highest quintile of earners fell, while the share received by the bottom quintile of earners rose.
d. All of the above are true.
A
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A box of biodegradable baby diapers is an example of a(n) ________ good and also an example of a(n) ________ good.
A) inspection; experience B) credence; inspection C) credence; experience D) inspection; greenwashed
If a bank receives a deposit of $3,000 and loans out $2,000 . what changes will occur on the bank's balance sheet (after all checks involved with the loan are cleared)?
a. Reserves decrease by $3,000 . total assets decrease by $1,000 . and total liabilities increase by $3,000. b. Reserves increase by $1,000 . total assets increase by $2,000 . and total liabilities increase by $3,000. c. Reserves increase by $3,000 . total assets by increase $3,000 . and total liabilities increase by $3,000. d. Reserves increase by $3,000 . total assets by increase $2,000 . and total liabilities decrease by $3,000. e. Reserves increase by $1,000 . total assets increase by $3,000 . and total liabilities increase by $3,000.
What was the per capital income level for the United States in 2011?
a. $28,100 b. $38,100 c. $48,100 d. $58,000
Milton Friedman, a leading monetarist, believes the Fed should not manage the money supply in a discretionary manner. Which of the following statements is NOT a reason for Friedman's belief?
A. The limitations of our knowledge make any discretionary policy very unpredictable. B. The past performance of the Fed has not given a strong indication that it has the ability to regulate the money supply in such a manner. C. Friedman advocates the rule of steady monetary growth. D. Discretionary monetary policy promotes confidence within the business community by providing a greater amount of stability to money and credit.