In the United States, the poorest 20 percent of households receive about ________ percent of total income
A) 15 B) 20 C) 3 D) 49 E) 23
C
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If people withdraw $10 million from the nation's money market mutual funds and redeposit the funds in various checkable and debitable accounts, then
A) M1 and M2 will remain unchanged. B) M1 will increase, M2 will remain unchanged. C) M1 will increase, M2 will decrease. D) M1 and M2 will increase.
One way to allocate 1,000 (stadium capacity) football tickets priced at $20 to 2,000 would-be buyers is to
a. put the tickets on sale for half price b. increase market efficiency c. make the tickets available to more people at the low price d. use a price ceiling to ensure that the market will remain in equilibrium e. implement a ration coupon system
A difference in wages between a highly-educated worker and a less-educated worker
a. may be due to a difference in the amounts of human capital between the workers. b. may be a signal that the market is indifferent to a worker's level of human capital. c. is considered unfair by economists. d. is considered unfair by everyone.
The income effect of higher wages leads workers to want to work more.
Answer the following statement true (T) or false (F)