In the United States, the highest quintile of income earners contribute ________ of all federal tax dollars received, and the lowest quintile of income earners contribute ________ of all federal tax dollars received
A) 20%; 20%
B) 68.8%; 0.4%
C) 24%; 1.5%
D) 29.4%; 11.5%
B
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Which of the following activities is most likely to be counted in GDP?
A. Gail buys paper and crayons to donate to poor children in need of school supplies. B. Fran volunteers at the local veteran's hospital twice a month. C. Stu gave $5 to a homeless man he met in the park. D. Bud works hard five hours each week to make sure that his lawn always looks nice.
Suppose the money market has an equilibrium interest rate of 10 percent. If the actual interest is 8 percent, which of the following occurs to bring the money market back to equilibrium?
A) People buy bonds, the price of bonds rises and the interest rate rises. B) People buy bonds, the price of bonds falls and the interest rate rises. C) People sell bonds, the price of bonds rises and the interest rate rises. D) People sell bonds, the price of bonds falls and the interest rate rises.
If the income-consumption path slopes down, then:
A. both goods are inferior. B. both goods are normal. C. one good is normal and the other good is inferior. D. we can't tell anything about whether the goods are normal or inferior.
When the money market is drawn with the value of money on the vertical axis, long-run equilibrium is obtained when the quantity demanded and quantity supplied of money are equal due to adjustments in
a. nominal interest rates. b. real interest rates. c. the price level. d. the money supply.