In the figure above, the middle fifth of all households receive what share of income?
A) 10 percent
B) 30 percent
C) 20 percent
D) 5 percent
C
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Pat can either drive to work, which takes half an hour and uses $1.50 worth of gas, or take the bus, which takes an hour and costs $1.00. How should Pat get to work?
A. Pat should take the bus if saving half an hour is worth $0.50 or more. B. Pat should drive if saving half an hour is worth $0.50 or more. C. Pat should drive because it saves half an hour relative to taking the bus. D. Pat should take the bus because it costs $0.50 less than driving.
Under U.S. commercial policy, the escape clause results in
A) temporary quotas granted to firms injured by import competition. B) tariffs that offset export subsidies granted to foreign producers. C) a refusal of the U.S. to extradite anyone who escaped political oppression. D) tax advantages extended to minority-owned exporting firms. E) tariff advantages extended to certain Caribbean countries in the U.S. market.
Income received minus personal taxes is called:
a. national income. b. personal income. c. disposable personal income. d. transfer payments. e. net national product.
If the Fed doubled the money supply in one day, the amount of goods and services traded would:
A. not change. B. increase. C. decrease. D. collapse.