During 1989 to 2015, the wealth share of the top 1 percent
A. grew from 67% to 74.5% despite the financial crisis in 2007.
B. remained relatively stable around 45%.
C. grew from 30% to 36% with the rise in the stock market during the 1990s.
D. dropped from 2.5% to 1.1% due to the bursting of the housing bubble.
Answer: C
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Does monetary policy require the accompaniment of fiscal policy to change total spending?
A) No, because the Fed is an independent agency of the federal government. B) Yes, because monetary policy can contract total spending but cannot by itself expand it. C) Yes, because no policy is effective if it only changes nominal money values. D) Yes, if the demand for money tends to change in about the same direction and amount whenever the supply changes.
The simultaneous occurrence of inflation and unemployment is called
a. depression b. downturn c. deflation d. demand-pull inflation e. stagflation
If the price of output? increases, the marginal revenue product curve will shift? ________ and the profit maximizing quantity of labor demanded will? ________.
A.
?down; decrease
B.
?up; decrease
C.
?down; increase
D.
?up; increase
Higher nominal interest rates ________ the amount of money demanded and higher real income ________ the amount of money demanded.
A. increase; increases B. decrease; increases C. increase; decreases D. decrease; decreases