In the United States, approximately what percentage of the total income is earned by the highest 5 percent of the families?
a. 10 percent.
b. 20 percent.
c. 30 percent.
d. 40 percent.
b
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A surplus occurs when the actual selling price is above the market equilibrium price
Indicate whether the statement is true or false
Interest payments on home mortgages and home equity loans are tax deductible. This tax deductibility encourages households to
a. shift other forms of debt to their home mortgage. b. increase the equity in their house. c. make larger payments and pay down their mortgage loan more rapidly. d. decrease the overall amount of household debt in relation to household income.
Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply. B. a reduction in aggregate demand. C. an increase in long-run aggregate supply. D. an increase in aggregate demand.
You put your product on 20% off sale market A but leave it unchanged in market B. Sales in A increase from 840 to 1040 units per week while sales in B rise from 770 to 830 . The Difference-in-difference estimate of the effect of the price change is:
a. 80 units b. 100 units c. 120 units d. 130 units