In the United States, most people's wealth comes from
A. inheritance.
B. transfer payments.
C. profits.
D. saving.
Answer: D
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In the short run, when the Fed decreases the quantity of money
A) bond prices fall and the interest rate rises. B) bond prices rise and the interest rate falls. C) the demand for money increases. D) the supply of money curve shifts rightward.
Most income differences across households are due to differences in worker productivity
Indicate whether the statement is true or false
Refer to the above figure. Economic profits for this firm are
A. negative. B. zero. C. positive. D. undetermined without more information.
Consider the currency market for British pounds and U.S. dollars. A decrease in the supply of British pounds results in:
A. An appreciation of the pound and a depreciation of the dollar B. A depreciation of the pound and a depreciation of the dollar C. An appreciation of the pound and an appreciation of the dollar D. A depreciation of the pound and an appreciation of the dollar