In 2017, the U.S. median income for a family of four was about $61,000.
Answer the following statement true (T) or false (F)
True
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Refer to Table 4-1. The table above lists the highest prices three consumers, Tom, Dick, and Harriet, are willing to pay for a short-sleeved polo shirt. If the price of the shirts falls from $28 to $20
A) Harriet will receive more consumer surplus than Tom or Dick. B) Tom will buy two shirts; Dick and Harriet will each buy one shirt. C) consumer surplus increases from $14 to $35. D) consumer surplus will increase from $70 to $95.
The legislation passed in 2010 that was intended to reform regulation of the financial system was the
A) Glass-Steagall Act. B) Wall Street Reform and Consumer Protection Act. C) Sarbanes-Oxley Act. D) Federal National Mortgage Act.
Compared with a partnership, a corporation can raise money more easily because owners of a corporation have less liability for the corporation's actions than owners of a partnership have for the partnership's actions
Indicate whether the statement is true or false
The direct exchange of one good or service for another is called
A) a token exchange. B) a standard of deferred payment. C) the exchange of purchasing power. D) barter.