The income of the household lying at the exact middle of the income distribution is:
a. mean household income.
b. median household income.
c. modal household income.
d. second quintile household income.
Answer: b. median household income.
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Loud music from a neighbor's party is
A) a negative externality whether or not you like it. B) a positive externality whether or not you like it. C) a positive externality if you like the music, and a negative externality if you don't. D) a negative externality if you like the music, and a positive externality if you don't. E) not an externality.
Which of the following is true?
a. Marginal tax rates that take a large share of income will enhance the incentive of individuals to invest and engage in productive activities. b. High tax rates will tend to drive investment funds and highly productive citizens to other countries where tax rates are lower. c. As marginal tax rates increase, individuals get to keep a larger share of their earnings. d. Countries can gain by imposing higher tariffs and other barriers that will restrain international trade.
The portfolio demand for money reflects:
A. the money we hold for our everyday transactions. B. the money we hold for our everyday transactions and the money we hold to purchase stocks and bonds and other financial securities. C. the portion of wealth people desire to hold in the form of money. D. the money we hold to purchase stocks and bonds and other financial securities.
Currency and checkable deposits are
Redeemable for gold and silver from the Federal Reserve System Of intrinsic value which determines the relative worth of money Assets of the Federal Reserve Banks or of financial institutions The major components of money supply M1