The 2011 U.S. distribution of income shows that the top 5 percent of families earn approximately how much income per year?
a. $170,000 and over
b. $205,000 and over
c. $250,000 and over
d. $325,000 and over
b
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The end of a recession is called the:
A. boom. B. expansion. C. trough. D. peak.
Which of the following will shift the aggregate demand curve to the left, ceteris paribus?
A) an increase in disposable income B) an increase in expected profits for firms C) an increase in net exports D) an increase in interest rates
When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
As economic development progresses, eventually birth rates _____.
Fill in the blank(s) with the appropriate word(s).