The United States has a mixed market economy.
a. true
b. false
Ans: a. true
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Reserves of a bank equal its
A) deposits with the Federal Reserve. B) vault cash plus deposits of its customers. C) vault cash plus deposits with the Federal Reserve. D) vault cash.
In 2010, the highest quin tile of the income distribution earned approximately
a. 5 percent of aggregate income. b. 10 percent of aggregate income. c. 15 percent of aggregate income. d. 50 percent of aggregate income.
If total spending rises from one year to the next, then
a. the economy must be producing a larger output of goods and services. b. goods and services must be selling at higher prices. c. either the economy must be producing a larger output of goods and services, or goods and services must be selling at higher prices, or both. d. employment or productivity must be rising.
In the above table, when output is 8 units, average total costs are
A. $38. B. $4.75. C. $3.50. D. $28.