Truck drivers usually earn more than secretaries because
a. drivers require more education and training
b. truck drivers have more flexibility in their daily activities
c. truckers face greater risks
d. secretaries have higher productivity than truckers
e. truckers are discriminated against
C
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In 2014, the poverty rate among children under age 18 was approximately
A. 45 percent. B. 29 percent. C. 36 percent. D. 21 percent.
Any reserves held by a bank above the amount of minimum legal reserves are called
A. total reserves. B. required reserves. C. fiat money. D. excess reserves.
A value of the absolute price elasticity of demand equal to 0.4 indicates that
A. a 4 percent increase in price leads to a 10 percent decrease in quantity demanded. B. a 1 percent increase in price leads to a 4 percent decrease in quantity demanded. C. a 0.4 percent increase in price leads to a 1 percent decrease in quantity demanded. D. a 10 percent increase in price leads to a 4 percent decrease in quantity demanded.
In the short run, when the Fed increases the nominal interest rate, the real interest rate
A) permanently falls. B) does not change. C) permanently rises. D) temporarily rises. E) temporarily falls.