In the United States, inheritance accounts for roughly ________ of income inequality.
A. 10 percent
B. 30 percent
C. 50 percent
D. 20 percent
Answer: A
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If the Fed has announced that it plans on lowering the interest rate it will
A) engage in contractionary open market operations, thereby increasing the money supply. B) engage in contractionary open market operations, thereby decreasing the money supply. C) engage in expansionary open market operations, thereby decreasing the money supply. D) engage in expansionary open market operations, thereby increasing the money supply.
In long-run equilibrium, the typical perfectly competitive firm will:
a. earn zero economic profit. b. change plant size in the long run. c. change output in the short run. d. do any of these.
Remittances refers to:
A. money paid to immigrants from hosting countries. B. money sent home from immigrants working abroad. C. the portion of money paid to immigrants that is not domestically taxed. D. the money immigrants get from the government once they immigrate to a nation.
Suppose the government used the following formula to compute a family's tax liability: Taxes owed = 28% of income - $8,000 . How much would a family that earned $75,000 owe?