The lowest-income fifth of the U.S. population ordinarily earns about 20 percent of the income.
Answer the following statement true (T) or false (F)
False
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In our modern financial system, money is created
A) only by central banks. B) only by the banking system. C) by central banks and the banking system. D) only by federal governments.
The demand for money in an economy is high when the: a. real GDP is low
b. personal tax rate is low. c. unemployment rate is high. d. price level is high. e. interest rate is high.
An oligopoly market is characterized by limited number of sellers, each having complete control over the market price level as in case of monopoly
Indicate whether the statement is true or false
Suppose everyone in a town prefers spending on improved public transportation systems instead of public parks, and prefers spending on public parks instead of building a public zoo. A voting system that would ensure that zoo funding would never beat spending on transportation would demonstrate which criteria for an ideal voting system?
A. Transitivity B. Unanimity C. No dictator D. Independence of irrelevant alternatives