From 1979-2007, labor income for U.S. households became more evenly distributed.
Answer the following statement true (T) or false (F)
False
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The rate at which one currency is traded for another is called a(n)
a. prime rate. b. trade rate. c. exchange rate. d. money rate.
Other things the same, as the real interest rate rises
a. domestic investment and net capital outflow both rise. b. domestic investment and net capital outflow both fall. c. domestic investment rises and net capital outflow falls. d. domestic investment falls and net capital outflow rises.
Which of the following statements is true?
A) Knowledge of economics complicates decision making. B) Economics is more of a theoretical subject with limited applications in the real world. C) Testing with data is essential to develop a good theory. D) Cost-benefit analysis can be applied only to limited economic decisions.
The figure above shows the market for milk. If the efficient quantity of milk is produced, the producer surplus is
A) $100. B) $400. C) $200. D) $600.