In 2017, an income of $125,000 would, roughly, make a family
A. richer than 40 percent of U.S. households but poorer than 35 percent.
B. richer than 50 percent of U.S. households but poorer than 25 percent.
C. richer than 85 percent of U.S. households but poorer than 8 percent.
D. richer than 95 percent of U.S. households but poorer than 1 percent.
Answer: C
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Suppose a bank has the following balance sheet:
Assets Liabilities Reserves $14,000 Deposits $100,000 Loans $90,000 Net Worth $4,000 If the required reserve ratio is 10 percent, how much excess reserves does the bank have? What is the maximum amount that the bank can expand its loans?
The current base period for the CPI is
a. 1967. b. 1977. c. 1982–1984. d. 1990.
Money multiplier is the amount of money the banking system generates with each dollar of reserves.
Answer the following statement true (T) or false (F)
When the number of substitutes increase, the demand curve for a monopolist will
A) not change. B) become more elastic. C) become more inelastic. D) become steeper.