Which age householder group's mean income among the following was the highest in 2010?
A) 15-25 years old
B) 25-34 years old
C) 45-54 years old
D) 65 years and older
C
You might also like to view...
Which of the following is collected only by local and state governments?
A) Excise tax B) Personal income tax C) Toll taxes D) Payroll tax
You are considering buying a store. In order to better access your return on the investment, your expectations of the return should be based on
a. Days where sales are high, costs are low b. Days where sales are low and costs are high c. Days where both sales and costs are low d. A weighted average of all the above scenarios
The situation where a country can produce a good at a lower opportunity cost than another country is called a(n) __________ advantage
A) permanent B) transitory C) absolute D) comparative E) natural
The income effect indicates that:
A) a rise in money income will cause consumers to buy smaller quantities of normal goods. B) when the price of a product falls, the lower price will induce the consumer to buy more of that product now that it is relatively cheaper. C) consumers should substitute among various products until the marginal utility from the last unit of each product purchased is the same. D) when the price of a product falls, a consumer will be able to buy more of it with a specific money income.