In 2013, the bottom 90 percent of wealth holders in the United States had less than one-quarter of the total wealth.
Answer the following statement true (T) or false (F)
True
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If the price of salmon increases relative to the price of cod, the demand for:
A) cod will decrease. B) cod will increase. C) salmon will decrease. D) salmon will increase.
At a price of $5, Sam buys 10 units of a product; when the price increases to $6, Sam buys 8 units. Martha says Sam's demand has decreased. Is Martha correct?
a. Yes, Martha is correct. Sam's demand has decreased. b. No, Martha is incorrect. Sam's demand has increased. c. No, Martha is incorrect. Sam's quantity demanded has decreased, and his demand has not changed. d. No, Martha is incorrect. Sam's quantity demanded has increased, and his demand has increased. e. No, Martha is incorrect. Sam's demand has increased, and his quantity demanded has decreased.
A majority of international transactions involve the buying and selling of _____
a. bank deposits denominated in foreign currency b. currency notes c. traveler's checks d. stocks denominated in domestic currency e. bills of exchange
What is "crowding out"? Why is it important in discussions of fiscal policy? Use an appropriate diagram to illustrate your answer