Suppose that young people often borrow and then repay the loans when they are older. These actions relate to which problem in measuring inequality?
a. in-kind transfers
b. the economic life cycle
c. a negative income tax
d. economic mobility
b
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Which of the following will raise consumer expenditures?
A) an increase in interest rates B) an increase in the price level C) a general decline in housing prices D) an increase in expected future income
The Federal Reserve Act of 1913 was passed to
a. convert all banks to national banks b. check the overreach of powerful financial trusts c. allow banks to hold excess reserves d. allow banks to accept collateral as guarantees against outstanding loans e. prevent banks from accepting collateral as guarantees against outstanding loans
A competitive firm has been selling its output for $10 per unit and has been maximizing its profit. Then, the price rises to $14, and the firm makes whatever adjustments are necessary to maximize its profit at the now-higher price. Once the firm has adjusted, its
a. marginal revenue is lower than it was previously. b. marginal cost is lower than it was previously. c. quantity of output is higher than it was previously. d. All of the above are correct.
The basic data source to track the number of unemployed comes from a calculation of applications for new unemployment benefits.
Answer the following statement true (T) or false (F)