In 2013, the Lowest Income 60 percent of households had about what percentage of total money income?
a. 23.4%
b. 26.0%
c. 46.6%
d. 60.0%
Answer: b. 26.0%
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In general, supply curves slope upward because:
a. increases in the price of a good result in lower opportunity costs. b. rising prices provide producers with a greater profit incentive. c. consumers buy a greater quantity. d. technology improves the ability of firms to produce more at each possible price.
The __________ is the price of money (loanable funds).
A. wage B. rent C. demand D. interest rate
If a good is normal, then an increase in income will result in a(n)
a. increase in the demand for the good. b. decrease in the demand for the good. c. movement down and to the right along the demand curve for the good. d. movement up and to the left along the demand curve for the good.
What are the problem with Medicare and Medicaid?
What will be an ideal response?