In recent years, average household income in the United States was highest for households headed by someone aged
A) 35 to 44.
B) 45 to 54.
C) 55 to 64.
D) 65 and over.
B
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In much of Europe, the legal age to obtain a driver's license is 18. If the legal driving age in the United States was changed to 18, how would this affect the market for new automobiles? The market for automobile insurance?
What will be an ideal response?
The supply of foreign currencies is upward sloping and the demand for foreign currencies is downward sloping
a. True b. False Indicate whether the statement is true or false
You are hired by the Bureau of Economic Analogies (BEA) as an economic consultant. The Chairperson of the BEA tells you that he believes the current unemployment rate is too low. The unemployment rate can be increased if aggregate output decreases. He wants to know what policy to pursue to decrease aggregate output by $100 billion. The best estimate he has for the MPC is 0.9. Which of the following policies should you recommend?
A. Cut taxes by $60 billion and to increase government spending by $60 billion. B. Decrease government spending by $100 billion. C. Decrease government spending by $10 billion. D. Increase taxes by $100 billion.
Traditional sports gambling is legal
A. everywhere. B. as long as it is on the internet. C. nowhere. D. in some states (Nevada, Montana, Delaware, and Oregon) and illegal in others.