In 2011, about what percentage of U.S. households had annual before-tax incomes of less than $15,000?
A. About 6 percent
B. About 13 percent
C. About 25 percent
D. About 33 percent
B. About 13 percent
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________ emphasize(s) that changing expectations about the future is the main reason behind fluctuations in the economy
A) The real business cycle theory B) Keynesian theory C) Ricardian theory D) Monetary theories
Voluntary exchanges between ____________ generates surplus.
A. firms B. countries C. individuals D. All of these are true.
The natural right to life, liberty and pursuit of happiness is an idea of:
a. Hayek b. Schumpeter c. Marx d. Lange e. Locke
If a reform of the tax laws encourages greater saving, the result would be
a. higher interest rates and greater investment. b. higher interest rates and less investment. c. lower interest rates and greater investment. d. lower interest rate and less investment.