The measured distribution of income today appears more unequal than in the 1950s partly because of:
a. an increase in the rate of divorce
b. an increase in the number of two-income families.
c. a reduction in the divorce rate.
d. both (a) and (b).
d
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Relative to a manager of a company owned store, a franchisee is more likely to
a. Work very hard b. Not work as hard c. Work only evenings d. Work only night shifts
Fiscal policy involves changes in government spending and taxes, but not regulation of prices or production.
Answer the following statement true (T) or false (F)
A bank has $100 million of checkable deposits, $6 million of required reserves, and $2 million of excess reserves. What is the required reserve ratio?
A. 2 percent B. 3 percent C. 6 percent D. 12 percent
Suppose the economy's production function is Y = A(300N - N2). The marginal product of labor is MPN = A(300 - 2N). Suppose that A = 10. The supply of labor is NS = 0.05w + 0.005G.(a)If G is 26,000, what are the real wage, employment, and output?(b)If G rises to 26,400, what are the real wage, employment, and output?(c)If G falls to 25,600, what are the real wage, employment, and output?(d)In cases (b) and (c), what is the government purchases multiplier; that is, what is the change in output divided by the change in government purchases?
What will be an ideal response?