Risk taking
A. is economically wasteful.
B. is a cause of income inequality.
C. is not a cause of income inequality.
D. evens out income inequality because of the bell curve.
Answer: B
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When the Fed acts as a "lender of last resort," like it did in the financial crisis of 2007-2008, it is performing its role of
A. providing for check clearing and collection. B. being the bankers' bank. C. controlling the money supply. D. setting the reserve requirements.
What did economists Robert Jensen and Nolan Miller determine must be true for a good to be a Giffen good, where the income effect is larger than its substitution effect?
What will be an ideal response?
Suppose that in our economy: G = 1100, T = 900, S = 140, and NX = -90. How much of our final product is left for domestic firms to purchase for themselves?
A) 110 B) 200 C) 230 D) 50 E) 30
Which of the following groups had the highest percentage unemployed in February 2015?
a. new entrants b. job leavers c. job losers: temporary d. job losers: nontemporary