In the United States, the lifetime distribution of income is more equal than the annual distribution. This statement is:
A. true because the rich have gotten richer and the poor have gotten poorer.
B. true because there is considerable income mobility over time.
C. false because people tend to stay in the same income quintile over extended periods of
time.
D. false because the rich have gotten richer and the poor have gotten poorer.
Answer: B
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Which of the following is definitely true if the production possibilities curve shifts outward?
A. Aggregate supply has increased. B. Population has increased. C. GDP per capita has increased. D. Inflation has increased.
In 2014 , the U.S. GDP accounts for ________ of world output
A) 20% B) 23% C) 45% D) 50%
The supply curve has a
A) negative slope. B) positive slope. C) slope equal to -1. D) undefined slope.
Emma, 23, just graduated from college in Child, Youth and Family Studies and has been working in outreach for the past 12 months. She doesn't make a lot of money at her job, but she learned in her financial management class that she should do what she can to save and invest her money for her future financial goals. Currently, in her budget, she has been able to save $50.00 each month and at the end of her first year of working, she has accumulated $600.00. She has decided to invest her $600.00 in a Certificate of Deposit that will pay annual interest rate of 3% if she leaves the money on deposit (in the account) for 4 years. Use the information provided above to fill in the Future Value (FV) formula: FV = PV*(i+1.0)n