If the population is split up into quintiles by income, the bottom quintile would include:
A. the poorest half of the population.
B. the poorest 60 percent of the population.
C. the richest half of the population.
D. the poorest 20 percent of the population.
D. the poorest 20 percent of the population.
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The length of money or commodity demand disturbances is important to the "policy activism" debate between non-activists and activists because
A) changing the money supply affects the economy with a lag. B) changes in private spending must be offset by policy debate. C) Both A and B are correct. D) None of the above is correct.
The marginal cost of investment for the firm is equal to
A) 1. B) -1. C) MP'K. D) -MP'K.
Markets can be missing:
A. because a market is taxed. B. when the sale of a particular service is banned. C. when miscommunication of information between buyers and sellers leads to the wrong equilibrium price. D. All of these are true.
The sign on the income elasticity formula will be positive for inferior goods and negative for normal goods.
Answer the following statement true (T) or false (F)