In the period from 1996 to 2007, real wages in the United States ________ during the 1973 to 1995 period.
A. declined more rapidly
B. grew at about the same rate
C. declined
D. grew more rapidly
Answer: D
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Suppose your bank pays you 5 percent interest per year on your savings account. If prices increase by 5 percent per year over that time, approximately how much real value do you gain by keeping $100 in the bank for a year?
A) $0 B) $1 C) $3 D) $6
If the marginal propensity to save (MPS) is 0.50, the value of the spending multiplier is:
a. 1. b. 2. c. 4. d. 9.
"Near monies" are
a. stocks, bonds, and real estate. b. U.S. notes and Federal Reserve notes. c. included in the M1 definition of the money supply. d. liquid assets that are close substitutes for money. e. All of the above are correct.
What is the assumption underlying public-choice theory?
A. Resources in the public sector are not scarce. B. Individuals act within the political process to improve their own individual well-being. C. Elected officials believe in cooperating with one another and they seek to avoid competition among themselves. D. The costs and benefits of being efficient are the same whether one is in the private sector or in the public sector.