Incomes of U.S. households in the 1970s and 1980s
a. grew rapidly, due to the widespread success of labor unions in pushing up wages during those decades.
b. grew rapidly, due to several increases in the minimum wage during those decades.
c. grew rapidly, due to government policies that discouraged the importation of foreign products during those decades.
d. grew slowly, due to slow growth of the output of goods and services per hour of U.S. workers' time during those decades.
d
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Assume that there is a 25% reserve requirement and that the Federal Reserve buys $200 million worth of government securities. If the securities are purchased from the public, then this action has the potential to increase bank lending by a maximum of ________.
A. $800 million, and also by $800 million if the securities are purchased directly from commercial banks B. $600 million, and also by $600 million if the securities are purchased directly from commercial banks C. $800 million, but only by $600 million if the securities are purchased directly from commercial banks D. $600 million, but by $800 million if the securities are purchased directly from commercial banks
In the figure above, in which country do the highest-income 30 percent of households have the highest fraction of the nation's income?
A) Country A B) Country B C) Country C D) It is impossible to answer the question without more information.
Refer to Table 4-5. The table above lists the highest prices five consumers are willing to pay for a concert ticket. If the price of one ticket is $50
A) Violet's consumer surplus is $2. B) everyone will buy a ticket. C) consumer surplus will be maximized. D) no one will buy a ticket.
Other things the same, which of the following is correct?
a. A decrease in the price level causes the dollar to appreciate. Aggregate demand shifts right. b. A decrease in the price level causes the dollar to depreciate. Aggregate demand shifts right. c. If speculators lose confidence in the American economy, the dollar appreciates. Aggregate demand shifts right. d. If speculators lose confidence in the American economy, the dollar depreciates. Aggregate demand shifts right.