Income distribution in the United States over the past 40 years has become more equal
Indicate whether the statement is true or false
FALSE
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If you worked 35 hours a week at a minimum wage job you could ________ a family of four above the poverty line.
A. easily keep B. barely keep C. not come close to keeping
When Adam Smith's ten pin workers specialized, they were able to increase output of pins in a day from 200 to 48,000. One reason for the increase in pin output was due to
A) the time saved when workers do not need to shift from one task to another.
B) the boredom the workers suffered when they stopped making a whole pin and only concentrated on one task such as painting the heads white.
C) new machinery.
D) the bonus they received when they produced more pins.
Refer to the information provided in Figure 23.11 below to answer the question(s) that follow.
Figure 23.11Refer to Figure 23.11. If MPC increases to 0.8, equilibrium aggregate output
A. increases to $250 million. B. increases to $400 million. C. remains at $200 million. D. cannot be determined from the given information.
"Official" recessions in the United States are declared by:
A. the National Bureau of Economic Research. B. Congress. C. the Federal Reserve. D. the U.S. department of the Treasury.