Compared to low-income families, upper-income families are likely to
a. be larger in size.
b. be headed by an adult of prime working age (between 35 years and 64 years).
c. have more than one family member working.
d. be all of the above.
D
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John's utility of wealth curve is shown in the above figure. He currently has total wealth of $20,000. If there is a 50 percent chance that his $10,000 car will be stolen, then his expected wealth equals
A) $0. B) $10,000. C) $15,000. D) $20,000.
MPK falls when production becomes more ________-intensive, meaning a ________ in v* and a ________ in net investment
A) labor, fall, fall B) labor, fall, rise C) labor, rise, fall D) capital, rise, rise E) capital, fall, fall
Dollarization is a policy action that
A) tries to stabilize the value of the local currency vs. the U.S. dollar. B) adopts the currency of another country as the national medium of exchange. C) mimics policy actions taken by the U.S. Federal Reserve. D) outlaws the holding of foreign currencies other than the U.S. dollar.
Unemployment rates differ widely among various groups in the population
a. True b. False Indicate whether the statement is true or false