According to the Pew Charitable Trust methodology for identifying the middle class, in 2014, the bottom end of the middle class is ________, and the top end is ________.
A. $42,000; $126,000
B. $75,000; $300,000
C. $50,000; $75,000
D. $30,000; $250,000
Answer: A
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In the above figure, when the economy is in a long-run equilibrium, real GDP will be
A) $15.5 trillion. B) $16.0 trillion. C) $17.5 trillion. D) $17.0 trillion.
You have a bond that pays $18 per year in coupon payments. Which of the following would result in a decrease in the price of your bond?
A) The likelihood that the firm issuing your bond will default on debt decreases. B) Coupon payments on newly-issued bonds rise to $22 per year. C) The price of a share of stock in the company rises. D) Coupon payments on newly-issued bonds fall to $15 per year.
Historians of economic thought often describe ________ written by ________ and published in ________ as the first real exposition of an economic model
A) "Of the Balance of Trade," David Hume, 1776 B) "Wealth of Nations," David Hume, 1758 C) "Wealth of Nations," Adam Smith, 1758 D) "Wealth of Nations," Adam Smith, 1776 E) "Of the Balance of Trade," David Hume, 1758
An improvement in managerial efficiency in a Fortune 500 corporation increases the marginal revenue product of all people working for the corporation. Assuming that the wage of workers who are hired in a competitive labor market remains constant, the company will
A. fire some workers. B. hire some workers. C. neither increase nor decrease the number of workers employed. D. shut down unless it can lower wages.